Spot Condo Approval Process
Mortgage Concepts, LLC, Reverse Mortgage Lenders Division, has closed another reverse mortgage with Mr. and Mrs. Phoenix, AZ. The reverse mortgage was for a non-FHA approved condominium in the Biltmore area of Phoenix. The condo was approved with a spot condo approval process and the borrowers received $100,000 net. The money was used to pay off taxes and HOA fees and the balance will help the couple recover from the financial devastation of the loss of other investments.
This Phoenix reverse mortgage was a fixed interest rate of 5.56% with a lump-sum pay out at closing. Condominiums without FHA approval must qualify for the spot condo approval process. This process can be difficult if not performed by an experienced mortgage originator. Mortgage Concepts, LLC has closed hundreds of reverse mortgages and many of them were spot condo approvals. For information on how to get a spot condo approval or to be introduced to Mr. and Mrs. Phoenix, AZ call us at (602) 456-0009.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=32201adc-4a4b-4929-a234-60586ff9205c)
Posted in 
Tags: 
