Posted on: 03rd Aug, 2008 01:59 pm
I need a reverse mortgage of $1,000,000 as quickly as possible. Your immediate response is greatly appreciated.
What is the property worth? It will need to appraise for around 3,000,000 to get a 1,000,000 reverse. There are only a couple of lenders doing Rev Jombos. I am doing one right now and they are requirng 60% equity.
Good Luck
Good Luck
Hi reb,
Welcome to the forums.
This community has a group of lenders offering different types of loans to people having various income levels and credit profiles. You can request for a no-obligation free mortgage quote from the lenders in this community. You can then compare the quotes on reverse mortgages and then choose the one that suits you better.
Take Care
Welcome to the forums.
This community has a group of lenders offering different types of loans to people having various income levels and credit profiles. You can request for a no-obligation free mortgage quote from the lenders in this community. You can then compare the quotes on reverse mortgages and then choose the one that suits you better.
Take Care
Very few lenders still offer the jumbo reverse mortgage. We have this program available nationwide. I would happy to discuss in further detail.
Regards-
Ken Klawans, CSA
Certified Senior Advisor
Certified Reverse Mortgage Specialist
[Promotional text deleted as per forum rules. Thanks.]
Regards-
Ken Klawans, CSA
Certified Senior Advisor
Certified Reverse Mortgage Specialist
[Promotional text deleted as per forum rules. Thanks.]
I AM LOOKING FOR A REVERSE MORTGAGE FOR $550,000. HOUSE IS APPRAISED AT $679,000.
LET ME KNOW IF YOU HAVE A SOURCE....
LET ME KNOW IF YOU HAVE A SOURCE....
CJ:
Unfortunately, the balance you owe on the property is too high to qualify for a reverse mortgage. As a general rule of thumb, reverse mortgages require no more then 50% loan to value (i.e. If value is $400,000 and you owe $200,000 or less). Other factors which determine the amount of funds available for a reverse mortgage is the age of the youngest borrower and the FHA county limit where the property is located (however this is expected to change after 11/1/08).
Feel free to post any further questions.
Regards-
Ken Klawans, CSA
Certified Senior Advisor
Reverse Mortgage Specialist
ReverseMortgageTimes.org
Unfortunately, the balance you owe on the property is too high to qualify for a reverse mortgage. As a general rule of thumb, reverse mortgages require no more then 50% loan to value (i.e. If value is $400,000 and you owe $200,000 or less). Other factors which determine the amount of funds available for a reverse mortgage is the age of the youngest borrower and the FHA county limit where the property is located (however this is expected to change after 11/1/08).
Feel free to post any further questions.
Regards-
Ken Klawans, CSA
Certified Senior Advisor
Reverse Mortgage Specialist
ReverseMortgageTimes.org
Hi Ken Klawans!
Welcome to our community.
I have read your post and it seems that you have given some valuable information through it. Why dont you join our community? I think you will definitely enjoy participating in the community and everybody will be benefited from your valuable knowledge. Also it may help promote your business.
In case you would like to speak more about yourself and let the community know you, feel free to post at: http://www.mortgagefit.com/introduce-yourself-8.html .
Thanks,
Brian Dela Cruz
Welcome to our community.
I have read your post and it seems that you have given some valuable information through it. Why dont you join our community? I think you will definitely enjoy participating in the community and everybody will be benefited from your valuable knowledge. Also it may help promote your business.
In case you would like to speak more about yourself and let the community know you, feel free to post at: http://www.mortgagefit.com/introduce-yourself-8.html .
Thanks,
Brian Dela Cruz