Reverse Mortgage Prescott
Why Now Might Be the Best Time to Consider a Reverse Mortgage
Yes, you read that right! It may sound counterintuitive, but now could be the perfect time to exchange your low-interest conventional mortgage for a higher-interest-rate reverse mortgage. Why would you make that switch? The straightforward answer is that you can actually build equity faster by making payments on a reverse mortgage than on a traditional…
Read MoreCash-Out Refi Versus Reverse Mortgage
What Is a Cash-Out Refi? The process for a cash-out refi is similar to refinancing an existing traditional mortgage. In a traditional refi, the borrower pays off an existing mortgage loan and secures a new loan. The terms are different from the original loan, likely with a lower interest rate, shorter term, or both. In…
Read MoreCommon Reverse Mortgage Questions
What is a Reverse Mortgage? A Reverse Mortgage enables Senior’s age 62 and older to convert a portion of the equity in their home into tax-free proceeds without giving up ownership or ever making a mortgage payment while in their home. It is a non-recourse loan which means if the loan amount ever were to…
Read MoreIt’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 MorePAAR 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 MoreMajor 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 MoreReverse 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 MoreFREE 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
