You've worked hard all your life, now is the time to breathe a little easier in your home without the stress of monthly mortgage payments. According to financial experts, seniors in our country have accumulated between $6-8 trillion in home equity (Reasons why Baby Boomers are a Market to Watch, David Loman).
Unfortunately, most of that equity is just sitting; valuable home equity that could be a financial asset. The HECM (Reverse Mortgage) program has been in operation since the 1980's. HECMs are becoming increasingly popular as more and more seniors realize the benefit of using untapped home equity funds.
Unfortunately, most of that equity is just sitting; valuable home equity that could be a financial asset. The HECM (Reverse Mortgage) program has been in operation since the 1980's. HECMs are becoming increasingly popular as more and more seniors realize the benefit of using untapped home equity funds.
Services
Cherry Creek Mortgage Company holds a top 25 national ranking in retail originations with a record $3.6 billion in volume in 2012 and $3.3 billion in 2013. Cherry Creek Mortgage Company has achieved 320% annual growth based on volume since 1991. Cherry Creek Mortgage Company has achieved 320% annual growth based on volume since 1991, including 92% growth in 2009.
A Reverse Mortgage, or Home Equity Conversion Mortgage (HECM), is a special type of home loan that enables homeowners 62 & older to convert some of their home equity into tax-free cash, without having to take out a second mortgage or sell their home. You choose how you want to receive your Reverse Mortgage Loan funds, whether as monthly payments, cash at closing, a line of credit or a combination of these.
Government regulations require that all HECM Reverse Mortgage lenders operate under the same guidelines. This assures borrowers that as long as they are using an approved lender and obtaining an FHA insured HECM Reverse Mortgage, the loan will have all the consumer protections required in this program.
Clients who need a comprehensive retirement plan can unlock their home equity and use it with a reverse mortgage. By doing this, they open a greater range of possibilities to strategically manage and enhance their wealth. Conventional wisdom has been changing even though the challenge remains the same: How to Make a Client's Money Last!
Affordability - no monthly mortgage payments required (borrowers must remain current on property taxes, homeowner's insurance and HOA dues). Realtors across the country are finding that a reverse mortgage may be an option for potential senior-home buyers who want to move or need to move but cannot qualify for a new mortgage or want to take on a new payment.
Reviews (1)
Scott W.
Apr 26, 2019
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Do not, under any conditions use this company to fund your Reverse Mortgage. They will waste 2 months of your time with adding multiple conditions and at the end, they will simply state that they do not want to do it. They give no reasons other than there are inconsistencies with the file.
This file was 100% factual!
STAY CLEAR!!!!!!!
This file was 100% factual!
STAY CLEAR!!!!!!!
