Reverse Mortgages

April 12th, 2007

Reverse Mortgages . . . with Laura Strickler

Laura Strickler -
Your Reverse Mortgage Specialist
 

Many of you have heard of the new reverse mortgage products entering the marketplace. There are changes to the existing reverse mortgage programs that may allow the senior homeowner to access more equity in their home.

These changes are so beneficial that I have been contacting my clients to offer them the opportunity to receive more cash by refinancing their existing reverse mortgage. This is true for some of my clients even if they closed their loan as recently as last month.

The reason for the additional available equity is that lenders have reduced their margin by a half of a percentage point (.50%). This allows the senior to realize more money in their pocket. The numbers are working in many of my clients' favor, allowing them to pull out additional funds.

I encourage you to contact me to receive an updated summary of the funds that are available to you. I will explain the figures and review the new programs with you so you can make an informed decision based on current program information.

The year 2007 is well under way and many of us will continue to try to be better…better at our finances, better at our health and work out commitments, better friends, spouses, children. The new market condition makes it possible for many of you, present, past or future clients, to realize tremendous gains in your equity and available cash.

This is just one of many reasons that I absolutely love working with Reverse Mortgages! We are able to follow the market and to advise our clients immediately when profound changes occur and we are then able to save them substantial money.

If you are thinking of utilizing a reverse mortgage, remember the rates are the same no matter which lender you go with for your loan. When collecting quotes from various lenders, just remember that the interest rates change on late Monday afternoon. So, that may make a difference in the figures you receive. That is one of the most common differences in comparing quotes. But, origination and third party fees can also vary. There is a maximum origination fee charged, which is 2% of the lending limit. There are also third party closing costs that can vary. These fees are estimates from the lender for your title, escrow, appraisal, notary, recording fees, etc. We can, and do, sort all of this out for you.

Remember, CALL TODAY for NEW REVERSE MORTGAGE INFORMATION! NEW CHANGES MEAN MORE MONEY FOR YOU!

Laura Strickler, CSA
Certified Senior Advisor
Reverse Mortgage Consultant
760-518-9839/800-491-2374