From the monthly archives: April 2010
I am a Reverse Mortgage Specialist in Phoenix Arizona with ten years experience. The most common problem home owners face when doing a reverse mortgage in Phoenix is getting a fair appraised value for their home. In addition, if repairs or violations exists, the home owner can be faced with less money to access at the closing of the reverse mortgage. To avoid these pitfalls, an experienced Phoenix reverse mortgage specialist will come out to your home and do a free, in-home inspection to identify any problems that may exist, before the appraiser’s visit. Getting a reverse mortgage in Phoenix should be easy, don’t trust your project to an inexperienced reverse mortgage lender.
Reverse Mortgage Concepts is offering Arizona Reverse Mortgage borrowers a rare opportunity to lock in a 4.99% fixed for life, reverse mortgage in Arizona with no lender fees and no servicing fees. A free home inspection will be performed to qualify. Please contact me directly for more information.
Michael Manfredi is an Arizona Reverse Mortgage Lender
Reverse Mortgage Concepts
Phoenix, AZ 85020
(602) 456-0009
(888) 697-5556
A decade long look at Arizona reverse mortgage lending limits in Maricopa County Arizona.
It seems like just yesterday when there was not a low, fixed rate reverse mortgage to be had. Suddenly, there are more than we could dream of and each lender is striving to make more sense of the loan from the borrowers perspective by assisting with fees and other terms.
FHA insured reverse mortgages continue to have the lowest rates because the lender has less risk but not all lenders are created equal in this highly competitive market where all the deals are drying up or get stuck in appraisal purgatory. The slippery slope has produced fixed rates down from 5.6, 5.5, 5.4 and now the ever pleasing 4.99.
Considering a reverse mortgage in Arizona? 602-456-0009 Your home’s value may be the key. Many home owners are faced with the reality of the current real estate market while planning for a reverse mortgage in Arizona. Most Arizona markets are still declining and Arizona home values have dropped 15.7% in the last year alone, according to Zillow Real Estate Market Reports. While there are some bright spots, those seem to be less affected by the downturn but none of them are seeing any gains yet, like we see in other parts of the country. This is a volatile market and all of the reasons you bought a home in Arizona or Florida for that matter are the reasons for the volatility. When times are good, they are really good in these desirable, vacation/retirement areas. When the pendulum swings back the other way, however, we can see sharp, protracted declines in value, a mirror image of the good times. This is a great time to buy and a good case can be made for borrowing against your home’s value at current market prices as well. When you borrow in lean times, like today, it’s hard to over leverage your home and when prices stabilize, you will have more equity for future use. Dont’ forget, future equity is a good thing and it can be tapped into at a later date when you refinance your reverse mortgage. If you are out bargain hunting, try calculating a reverse mortgage purchase scenario, or give me a call and I’ll explain to you how to take advantage of this downturn in market prices.
