Columnists

Big Change, Good Change

Issue 20.13

It seems change is in the air. As our economy changes for the better, we see more opportunity for buying and even selling homes in the Southern Utah area. This is a strange and uncommon phenomenon but welcome to many. Home inventory is dropping quickly so builder production of new homes is increasing and turn times for selling existing homes is less than in years past (seller benefit). Prices, on the other hand are still much lower overall in Washington County than in 2006 so this combined with the low interest rate trend, homes are very affordable for a vast range of clients (buyer benefit).

The Change in the Reverse Mortgage world blew in like a small tornado. Very scary initially but did very little damage. The modification of the product has been a breath of fresh air to many who feared the elimination of the main stream fixed rate loan. Actually, more options have pushed to the forefront for the potential client, which were once easily overlooked. Down payment percentages did not change, rates are actually lower and qualification is every bit as easy as ever before.

Have you have ever had questions about the HECM but did not know where to get answers? Have you ever wondered the difference between a Reverse Mortgage and a HECM? Maybe you didn’t know the many different ways a HECM loan can be used? Or possibly, you would like to know what has exactly changed with the HECM loan (reverse mortgage) and how does it affect yourself or the loan potential?

I can provide answers to all your questions. I, myself have been working with the senior client for over 7 years assisting with the Reverse Mortgage. Education about all aspects of the loan and how it may affect your circumstance is absolutely FREE. Whether your questions are regarding pulling money out of your existing home with a refinance to improve your financial position or regarding purchasing a home with a minimum cash investment and never paying a monthly mortgage payment on the home as long as you live in it. Your questions are welcomed and I strive to answer them thoroughly and correctly.

Recently I made a change myself. After much investigation, I decided to represent an outstanding Mortgage Company who is very strong in support of the HECM loan as well as all residential home loans. This allows me to better represent you, the client, in a more efficient and expedient fashion. Feel free to give me a call anytime at my new company, Veritas Funding and see my ad on the opposite page of the Sampler. Scott Gibson 435-767-1092.

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