Reverse Mortgages are easy to come by in Chino Valley, AZ if you are working with an experienced Arizona reverse mortgage specialist like Michael Manfredi. Our most recent client funded a new reverse mortgage loan for a manufactured home on five acres of land in Chino Valley, AZ. The application did have its challenges, though. First of all, the loan was attempted by another reverse mortgage lender in Arizona who soon found out, not all loans are created equal. The truth is, the lender’s lack of experience, robbed the borrower of a precious four months with nothing to show for it except a whole lot of meaningless paperwork. The lender was attempting to do an adjustable rate loan with a low quality appraisal and the wrong loan criteria for the manufactured home property type that would have yielded $81,000 to the borrower.
Reverse Mortgage Concepts was called in and spotted the deficiencies right away. A new, quality appraisal report was ordered and the loan qualified for a low fixed interest rate and a net, lump sum cash to the borrower of $105,000.
Michael Manfredi is an Arizona Reverse Mortgage Specialist
Reverse Mortgage Concepts
Phoenix, AZ 85020
(602) 456-0009
(888) 697-5556
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