Thank you to the Prescott Valley Chamber of Commerce and Marnie Uhl for having us on Community Connections to share more info on Reverse Mortgages. Watch the full interview with Traci Ranic and Marnie Uhl of Prescott Valley Chamber of Commerce HERE Register for the next Reverse Mortgage Lunch & Learn on June 20th, 2023: https://www.arizonareversemortgages.net/events/… [Read More]
Q & A with Traci
Question: With the bank problems we are hearing about and seeing, is there any effect on our reverse mortgage funds? Answer: None of what is happening with the banks will affect your reverse mortgage. The FHA HECM is a government insured loan. If your lender went out of business, FHA would step in and cover… [Read More]
It’s time to trade out that low interest rate mortgage for a high interest rate Reverse Mortgage
You read the title correctly! If you have been on the fence about getting a reverse mortgage now is the time to get serious about it. Why would you possibly trade in a regular 30 year fixed loan at say 3% or even 4% for a higher interest rate Reverse Mortgage? The straight answer is… [Read More]
PAAR Prescott Reverse Mortgage Lunch & Learn was a success!
We had a successful Lunch & Learn with the Prescott Area Association of Realtors at their office this week. They made a great video for #nationalcomplimentday We love this community. Thank you for having us join you to educate local realtors on the benefits that a Reverse Mortgage can bring to their clients and to… [Read More]
Major Changes in the Reverse Mortgage Market that could affect you!
Reverse Mortgage Funding, LLC filed for bankruptcy protection December 1, 2022. By December 6, 2022 monthly disbursements were approved by the courts to continue without interruption. What does this mean for you if you have a reverse mortgage with RMF? For the most part, nothing. One of the protections you get with the FHA backed… [Read More]
Reverse Mortgage Lunch and Learn Fun!
We had a great time helping, education and answering questions for our guests at the last Reverse Mortgage Lunch & Learn! Thank you to everyone that joined us, and thank you to Kimberly Marsh Photography for these fun photos. If you would like to join us at the next one on November 15th, you can… [Read More]
FREE Reverse Mortgage HECM Counseling in October!
If you are ready to get a Reverse Mortgage, Counseling is the first step. Money Management International is offering ALL Arizona & California homeowners FREE HECM Counseling all October! There is a batch of documents you need for counseling of which you can ONLY get through someone like me (ie, License Mortgage Professional)! That packet… [Read More]
If you’re a Senior 65 or over did you know you may be able to freeze your Property Value…
Recently you should have received your Property Tax Assessment from the County in which you live. Seniors who fall into the qualifying criteria below can freeze their PROPERTY VALUE for 3 years and then can reapply if they are still eligible. BENEFIT: To Freeze the Limited Property Value of your Primary Residence. Should you qualify… [Read More]
Building a Retirement Portfolio with Real Estate
There was a time when saving for retirement was primarily about investing in a 401K or IRA. If you were lucky enough to have worked for a company for a long time, you may also receive a pension. You also would get a little bit of income from social security. I know for people like… [Read More]
FHA HECM Loan Limits Rise
On December 14, 2018, FHA issued Mortgagee Letter 18-11, effective for forward mortgage case numbers, and Mortgagee Letter 18-12, effective for Home Equity Conversion Mortgage (HECM) case numbers, assigned on or after January 1, 2019. These Mortgagee Letters provide the mortgage limits for Title II FHA-insured forward mortgages and the maximum claim amount for FHA-insured… [Read More]