choices: Exploring Reverse Mortgage Options: Fixed Rate or Variable Rate(ARM)
- 11/24/12 10:49 PM
By Maggie O'Connell I’ve been working with Louise and her daughter for about a month. She came to me interested in learning about a reverse mortgage and was considering getting one for herself. She was also talking to a large reverse mortgage company who was strongly advocating the fixed rate lump sum option. I met with Louise and her daughter in her home and we discussed her situation, explored her attitude about equity, her thoughts about planning for the future and what she is trying to achieve. We looked at various reverse mortgage options with that in mind. After getting rid … (0 comments)
choices: What Is The Best Reverse Mortgage Option For You, Fixed or Adjustable Rate, Lump Sum or Credit Line?
- 01/26/12 10:13 AM
The most common and important discussion I have with my clients is regarding the payment plan and interest rate option. Someone I’ve been talking with over the past 2 years announced she was ready to do the reverse mortgage and wants the most money she can get. She stated very emphatically that she wanted the fixed rate with a lump sum draw. So I suggested we talk further and I started asking questions.
How long do you intend to stay in your home? She felt five years was the maximum time she would live there as the home … (0 comments)
In this blog, I go into detail on reverse mortgage information, through questions seniors and their families ask, industry news and current events, new programs; rate options, client stories and experiences and more. From my 20 years experience as a reverse mortgage specialist, I can help guide and educate you and answer the question, is a reverse mortgage right for you and if so, what is the best option with lowest costs, interest rates and payment plan. I am easily accessible and will be happy to talk with you.
Maggie O'Connell
direct line 800-489-0986
maggie@rmstore.net www.ReverseMortgageStore.com
NMLS #279499 Equal Housing Opportunity/ 411500
By Maggie O'Connell
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