Patty was receiving social security income. She had missed a mortgage payment, needed a new roof, and feared she might have to sell her home. She also had a significant amount of additional debt. Due to her limited income, no Forward mortgage options were available to her. Patty chose to complete a Reverse Mortgage, the ideal solution for her situation. She was not only able to pay off her remaining Forward mortgage but used a portion of her equity money to purchase a new roof and pay off her other debts, all while staying in her home.
Our financially savvy borrower wanted to strengthen his retirement portfolio and recognized that by liquidating some of his housing equity, his other financial investments could continue to grow untouched. By utilizing the Jumbo Reverse Mortgage, Gerald tapped into a portion of his home equity to set up a $3,000,000 credit line!
Jim was behind on his property tax bill and was hoping a cash-out refinance could provide the proceeds to catch him up. He was unable to qualify for Forward mortgage options due to his limited income, but did qualify for a Reverse mortgage and used the proceeds to pay off his delinquent taxes!
Edward and Marcella had previously refinanced their first mortgage with us when rates were low, however recent unexpected expenses were impacting their finances. Traditional home equity options wouldn’t provide enough funds and they couldn’t qualify with the new mortgage payments. Our fixed rate Reverse Second product provided the funds they needed with the benefit of no added monthly payments!
Stanley wanted to be near his grandchildren and decided to sell his California home to relocate to Nevada. Using a Reverse Purchase, Stanley leveraged the equity from the sale of his California property to purchase his new home in Carson City. Stanley’s transition to his new home was seamless and he’s enjoying the financial freedom of no monthly mortgage payments!