A reverse mortgage can be an effective tool for giving seniors additional cash to live on using the equity in their home. However, it is not a decision to be taken lightly. It's important to work with an experienced originator who can help you assess your unique situation to determine if a reverse mortgage is right for you. Randall treated me like family, giving me wise counsel and guiding me through every detail of the transaction.
I trusted Randall with the biggest transaction of my life and he proved himself worthy of my trust. Randall was professional at all times and never pushed me to make a hasty decision. He kept me informed at all times. And when I had questions, he always called me back right away and answered my questions in a manner that I could understand. The road was long - but thanks to Randall's continued persistence, we found the finish line!
We were honored to have Randall on our side. We are really glad we met Randall and would recommend him to anyone!. Randall walked us through each and every step of the process, and I really appreciate the way Randall was able to explain the reverse mortgage program to Mom so that she could understand it.
I trusted Randall with the biggest transaction of my life and he proved himself worthy of my trust. Randall was professional at all times and never pushed me to make a hasty decision. He kept me informed at all times. And when I had questions, he always called me back right away and answered my questions in a manner that I could understand. The road was long - but thanks to Randall's continued persistence, we found the finish line!
We were honored to have Randall on our side. We are really glad we met Randall and would recommend him to anyone!. Randall walked us through each and every step of the process, and I really appreciate the way Randall was able to explain the reverse mortgage program to Mom so that she could understand it.
Services
Randall Buffam is a well-known local expert and speaker on reverse mortgages.
He has assisted countless senior homeowners across the nation enhance their "golden years" by helping them select the correct reverse mortgage program to meet their particular needs and goals.
With his "no-pressure", educational approach, Randall is an expert at helping his clients find the right solution that exactly meets their needs.
He is also willing to tell senior homeowners when the reverse mortgage is not their best solution.
He has assisted countless senior homeowners across the nation enhance their "golden years" by helping them select the correct reverse mortgage program to meet their particular needs and goals.
With his "no-pressure", educational approach, Randall is an expert at helping his clients find the right solution that exactly meets their needs.
He is also willing to tell senior homeowners when the reverse mortgage is not their best solution.
2. Be contacted about a mortgage at my phone number even if my phone number appears on a State or National Do Not Call Registry, or any other Do Not Contact List.
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).
It is not intended to be a substitute for legal, tax or financial advice.
Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default.
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).
It is not intended to be a substitute for legal, tax or financial advice.
Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default.
A Home Equity Conversion Mortgage (HECM) is the formal name of the federally-administered loan that many commonly refer to as the 'reverse mortgage' loan.
The Home Equity Conversion Mortgage is administered by H.U.D. (The Department of Housing & Urban Development) and may help qualified homeowners 62 and older enhance their cash flow during retirement.
There may also be private jumbo reverse mortgages' available in your area for higher-valued properties (usually over $700,000 in value) which are not insured by FHA.
The Home Equity Conversion Mortgage is administered by H.U.D. (The Department of Housing & Urban Development) and may help qualified homeowners 62 and older enhance their cash flow during retirement.
There may also be private jumbo reverse mortgages' available in your area for higher-valued properties (usually over $700,000 in value) which are not insured by FHA.
Do I have the financial resources to help my parents with their medical and living expenses?.
What are my parents' wishes as to staying home if medical care is needed for an extended time?
Will Mom and Dad use up my inheritance?
While tapping into their home's value, your parents' home may appreciate in value, which could allow for some equity to be left at the end of the loan, but not always.
It is possible for your parents to use up their home's remaining equity.
Keep in mind that they could be able to live more comfortably without having to depend upon family members to support them.
What are my parents' wishes as to staying home if medical care is needed for an extended time?
Will Mom and Dad use up my inheritance?
While tapping into their home's value, your parents' home may appreciate in value, which could allow for some equity to be left at the end of the loan, but not always.
It is possible for your parents to use up their home's remaining equity.
Keep in mind that they could be able to live more comfortably without having to depend upon family members to support them.
A reverse mortgage loan is not for everyone.
We can provide detailed loan scenarios to you (with your client's permission) to help reach a decision that is aligned with the interest of all parties.
We are upfront with all our clients about the advantages and disadvantages of a reverse mortgage.
Proceeds received from a reverse mortgage typically do not affect Social Security or Medicare.
Provides access to a portion of their home's value without the requirement of monthly mortgage payments.
Borrowers must continue to meet ongoing property obligations such as homeowner's insurance and property tax payments.
We can provide detailed loan scenarios to you (with your client's permission) to help reach a decision that is aligned with the interest of all parties.
We are upfront with all our clients about the advantages and disadvantages of a reverse mortgage.
Proceeds received from a reverse mortgage typically do not affect Social Security or Medicare.
Provides access to a portion of their home's value without the requirement of monthly mortgage payments.
Borrowers must continue to meet ongoing property obligations such as homeowner's insurance and property tax payments.
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