Reverse Mortgage Pros and Cons – Is a Reverse Mortgage Right For You? – Duration: 3:24. Corona Reverse Mortgage Specialist NMLS#202003 (951)283-2983 23,694 views
We provide mortgage services, specializing in reverse mortgages. We’re the "No-Paperwork, We Make It Simple, Mortgage Guys!!" With over three decades of real estate experience, Bruce Lamarche and Walter Clayton can give you straight, honest answers regarding your financial options regarding home loans, refinancing, and reverse mortgages.
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Princeton Mortgage Homepage is located at the address 6798 S 1300 E in Salt Lake City, Utah 84121. They can be contacted via phone at (801) 304-9700 for pricing, hours and directions. Princeton Mortgage Homepage has an annual sales volume of 1M – 1,999,999. .
Are Reverse Mortgages Helpful or Hazardous? Often considered a loan of last resort for older retirees, reverse mortgages are there for homeowners who worry about outliving their savings
As with any mortgage, a reverse mortgage has closing costs such as title insurance, attorney fees and an origination fee. A reverse mortgage also requires a mortgage insurance premium. Most of these costs can be financed in the loan amount so there are minimal out-of-pocket expenses at time of application.
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A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes and homeowner’s insurance.
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A reverse mortgage is a special type of home equity loan that allows you to receive cash against the value of your home without selling it. For most reverse mortgages: You can choose to receive a lump-sum payment, a monthly payment, or a line of credit There are no restrictions on how you use the remainder of the money
High-Pressure Sales Tactics: Some brokers target the most vulnerable elderly and pressure them into taking out a reverse mortgage they don’t truly need. Taking a reverse mortgage without fully knowing all the ins and outs can lead to a home’s foreclosure, so it’s important to make this decision carefully.