Reverse Mortgage Archives | Frontier Financial of Arizona

If you’re 62 or older and exploring ways to improve your financial flexibility in retirement, a reverse mortgage might be the solution you’ve been searching for. As a Reverse Mortgage Specialist serving clients throughout Prescott, Prescott Valley, Phoenix, Flagstaff, and Northern Arizona, I’ve helped countless homeowners use their equity to live more comfortably—without selling their…

For many years reverse mortgages were broadly considered a loan of last resort. But as these financial vehicles have become more mainstream, and financial advisors have begun giving them a second look, a new criticism has emerged: they are yet another way for the rich to get richer. Neither categorization is entirely accurate. However, looking at them…

Although couples typically take out a reverse mortgage loan together, there are some circumstances in which one spouse does not meet the eligibility requirements of the loan. In these cases, the eligible spouse may take the reverse mortgage loan in their name alone. While the borrowing spouse is living and upholding the terms of the loan, this arrangement allows…

While reverse mortgages have been around for decades, many people still don’t understand how they work. This confusion can lead to people dismissing them as a viable financial option, without really taking the time to learn more and separate the myths from the realities. While it’s difficult to pinpoint where the misconceptions came from, we’ve compiled…

FFAZ Reverse Mortgage Lunch & Learn Prescott Arizona (1)

Several situations may make refinancing a reverse mortgage a savvy financial decision. These can include: Locking in a more favorable interest rate. If market conditions have led to lower interest rates, refinancing could potentially reduce the amount due when the loan matures. Accessing more equity. If a home’s value has appreciated significantly, refinancing might make a borrower eligible for…

Traci Ranic - Reverse Mortgage Lunch and Learn

The Benefits of Attending a Reverse Mortgage Lunch & Learn with Traci Ranic from Frontier Financial of Arizona: Expert Guidance: Gain insights from Traci Ranic, a seasoned mortgage professional with extensive experience in reverse mortgages, ensuring you get accurate and reliable information tailored to your needs. Comprehensive Understanding: Learn how reverse mortgages can provide tax-free…

Hello, I’m Traci, a Reverse Mortgage Specialist in the Greater Prescott Area with Frontier Financial of Arizona. I want to talk about an important topic that many of my clients face: managing debt, especially when living on a fixed income. Many seniors rely on credit cards to cover everyday expenses, which can lead to a…

How a Reverse Mortgage Can Help with Long-Term Care: Insights from Experts Navigating the financial aspects of retirement can be challenging, particularly when it comes to planning for long-term care. Many retirees face the difficult decision of how to cover these costs while remaining in their homes. One potential solution that is gaining popularity is…

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…

Probate court is often slow and costly, and will always cause unnecessary hardship to grieving loved ones. However, with proactive estate planning, you can avoid it. Here are six tips to help your loved ones avoid the cost and hassle of probate court when the time comes. What Is Probate? Probate is a legal process by…