Blog

All Cash Home Purchase Coming Up Short?

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A question for real estate and financial professionals: What do retirees, and those preparing to retire, want in what could be their last home purchase? Single-story living Modern design Upgraded kitchen Outdoor living space Low Maintenance Neighborhood and nearby amenities Proximity to family, children and grandchildren Manageable or no monthly payments The Problem: They just sold their…

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Reverse Mortgage Myths, Or Why You May Miss One Of The Most Important Loan Products Available Today…

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Reverse mortgages have been around for nearly 60 years and, during that time, have taken their fair share of knocks…  from the unscrupulous peddlers to the lack of sufficient government oversight. Find out below how the Home Equity Conversion Mortgages (HECM), (the only HUD approved, FHA insured reverse mortgage available) has been turned into one…

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FHA’S NEW REVERSE: Independent Borrower Counseling … And We Encourage Heirs To Attend!

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The Department of Housing and Urban Development (HUD) now requires that a third-party counselor be involved in every FHA insured Home Equity Conversion Mortgage (HECM). Why is this so important in the protection of the borrower’s interests?  Because in the old days older homeowners were getting into loans that were poorly understood and, prior to…

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Did You Know You Can Buy a Home with a Reverse Mortgage?

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Reverse mortgages have become one of the primary drivers of 55+ communities over the last several years.  In fact, Epcon Communities (one of the largest developers of 55 and over neighborhoods), stated after introducing their FHA Home Equity Conversion Mortgage for Purchase (H4P) in 2013[1], “Now, 30% of our homebuyers utilize this buying option.  After the…

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Follow Richard with Ridge Reverse


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Licensing

Ridge Reverse
Powered by Amerifund Home Loans Inc.
NMLS #347051

Richard W. McWhorter
NMLS  #1618644

Amerifund Corporate
2655 First St. Suite #220
Simi Valley, CA 9306

Contact Us

Local Address
200 E Tillman Ave
Lake Wales, FL 33853

Number:
Office: (863) 456-7810
Mobile: (404) 313-9785

Hours:
MON-FRI 9AM - 5PM EST

Ridge Reverse powered by Amerifund NMLS #347051. Equal Opportunity Mortgage Broker. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Contents not provided by, or approved by FHA, HUD or any other government agency. All potential tax benefits should be verified with a professional licensed tax advisor. NMLS Consumer Access

At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.

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