Finding a mortgage lender for a purchase loan or refinance is not a problem. Selecting someone who will help you find the best loan product for your situation even if it means sending you to another lender, is paramount.
There is a huge advantage to be able to sit across the table from someone you’re doing business with and look them straight in the eye. It’s difficult to make an informed decision based on a website and a phone call.
Continue reading Selecting a LenderThe CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) recently published its California housing market forecast for 2015. They are predicting something we are already seeing happen in San Diego County – moderate price increases and a return to a more traditional market.
This article is intended for general informational purposes only and does not constitute financial, tax, or legal advice. Homeowners considering a reverse mortgage should consult with qualified professionals to determine whether it is appropriate for their individual circumstances.
With encouragement from celebrity spokespersons such as Fred Thompson, Robert Wagner, and Henry Winkler, awareness of reverse mortgages increased significantly over the past decade. As the population continues to age, the topic remains relevant, with more than 25 million homeowners meeting the minimum age requirement.
A reverse mortgage allows homeowners age 62 or older who live in their home as a primary residence to access a portion of their home equity. The amount available is based on the borrower’s age, the home’s current value, and prevailing interest rates. Loan proceeds may be received as a single lump sum, a line of credit, or as periodic payments. Closing costs can be paid in cash or rolled into the loan amount.
