American Pacific Mortgage DBA The Reverse Mortgage Group
A reverse mortgage can be an effective tool for enhancing your retirement years. You have worked hard all your life and now is the time to enjoy. Whether it is golf, sewing, traveling or spending more time with the grand kids, it is your time to live! A reverse mortgage allows seniors to access additional cash by utilizing the equity in their home. However, it is not a decision to be taken lightly. It's important to work with an experienced originator who can help you assess your unique situation to determine if a reverse mortgage is right for you. Our team has a combined 34 years experience in the mortgage business. We are a branch of American Pacific Mortgage Corporation recently voted the 36th largest independently owned Mortgage Company in the country.
We would be like the opportunity to earn your business.
While we help many people to enjoy their retirement years with travel, or upgrades to their home or more money to enjoy their hobbies, we are also able to help you and your family cover the cost of home health care, medical equipment, medicine, we can even help you if you are in foreclosure.
Call us, don't be worried if you are having trouble covering your bills, or your mortgage payments, we may very well be able to help you to save your home.
Reverse Mortgage Myths debunked:
- You own your home - not the bank
- We can pay off a current mortgage - you do not have to own your home free of a mortgage 3. There is little to no income or credit qualifying.
- Reverse mortgages are too expensive - the cost of a reverse mortgage is the same as any FHA insured loan. Yes there is MIP that must be paid but it is the same as a traditional 'forward' mortgage.
- This is a NO RECOURSE loan - if you ended up owing more than the home is worth at the time you move out, you, nor your heirs, nor your estate is responsible for the difference. That is the purpose of the FHA mortgage insurance.
- The proceeds are TAX FREE - yes, whether taken monthly, in a line of credit or as a lump sum, the proceeds are completely tax free.