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.
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.
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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.
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).
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.
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.
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.
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