How low will they go? Live Well Financial is offfering the lowest fixed rate HECM option in the business at 4.99%. This comes one day after Financial Freedom announced a low ball 5.39%, cutting deeper into the industries recent 5.49% adjustment. For more information please email or call me.
Michael Manfredi is an Arizona Reverse Mortgage Specialist
7310 N 17th Street #315
Phoenix, AZ 85020
(800) 507-2080
Reverse mortgages are quickly becoming an important part of the residential mortgage lending business. Reverse mortgages are more widely accepted by consumers, industry professionals and regulators today because of the successful track record they have achieved, specifically in the last few years. If you are a residential mortgage lender and you have not yet capitalized on this niche market or have not yet found a way to make the reverse mortgage program work for you, chances are, you will benefit by some of the services I offer to lenders who may be interested in entering the market and signing up for reverse mortgage sales training.
Free Reverse Mortgage Publications are available from Reverse Mortgage Concepts by following these links. You can view and read or print the publications and distribute them to friends and family. If you have any questions, please call me to discuss, thank you! (800) 507-2080
NRMLA publications:
AARP publication:
National Council on Aging publications:
If you are a home owner in the process of applying for a reverse mortgage, take my advice and ask the lender for a discount. I have been in the reverse mortgage business for almost ten years now and I’m still amazed to see customers being charged full retail lender fees. I have been repeatedly contacted by customers of Wells Fargo Bank and others who have decided to shop around before closing their loans. They are usually shocked to find that I can offer most customers SUBSTANTIAL discounts on fees. This is money that would end up being paid to the bank as an origination fee and then added to the customer’s loan balance at closing. My discounts go right into the customer’s pocket keeping the overall closing costs lower and the beginning loan balance lower as well.
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.
Michael Manfredi is an Arizona Reverse Mortgage Specialist
7310 N 17th Street #315
Phoenix, AZ 85020
(800) 507-2080
Posted in Reverse Mortgage 
Tags: AARP, Arizona, FHA, LLC, Mortgage Concepts, LLC, reverse mortgage lender 
No Comments »Dear Senators McCain & Kyl:
Mortgage Concepts, LLC has closed another low fixed rate Reverse Mortgage in Scottsdale, Arizona. The borrower is age 65 and he received 172, 000 with no monthly mortgage payments. The borrower will no longer be forced to make a monthly payment but has the option to make one, if he so chooses. The interest rate is a low 5.5% and it is fixed for life. Because this is a reverse mortgage, the term is for the life of the borrower, not the life of the loan.
Posted in Reverse Mortgage Tags: LLC, Mortgage Concepts, LLC, Reverse Mortgage, reverse mortgage lender No Comments »
