Jeri Carmicheal's (jcarmicheal) Blog

Mortgage and Lending - Fresno/Clovis/Visalia/Madera and surrounding communities - NMLS ID# 582935
ONE WAY TO SELL A HOME USING A HECM FOR PURCHASE LOAN IN FRESNO, CA (Or Your Hometown)What do you do when your senior buyers have champagne taste with a beer pocketbook.     Has this every happened to you? You have a cash buyers with a $300,000 budget.   You have shown them several houses and the...
The only thing constant in life is change and like everything else the Reverse Mortgage program has been changing and evolving over the past several years. The principal limits have changed, the amount you can draw during the first twelve months has changed and coming March of 2015, the documenta...
What to do? What to do? What to do?  You've done your research and you've decided you want to go forward with a Reverse Mortgage but now you have to decide "Do I go with a fixed or adjustable rate Reverse Mortgage?" Many people are uncomfortable going with adjustable rate loans but when you're lo...
Determining whether or not a reverse mortgage is right for you is the number one question on the minds of prospective borrowers and should be answered right up front.  The best way to get an accurate answer to that question is to be sure you are working with the right Reverse Mortgage Consultant ...
  Although a reverse mortgage does have some impact on your heirs, that impact is mostly from their uncertainty of whether or not they will be personally responsible for paying off the debt.A reverse mortgage is a non-recourse loan secured by the property.  The lenders only recourse is to the pro...
You don't have to own your home free and clear in order to qualify for a reverse mortgage. In fact, most reverse mortgages are used primarily to payoff the existing home loan. Using a reverse mortgage to payoff the existing loan enables the homeowner to have some financial breathing room by elimi...
Not at all.  A reverse mortgage is a loan against the property.  Just like the mortgages most of us have on our homes.  It has terms and conditions that the borrower and lender must agree to and if the borrower does not fulfill those conditions the lender may foreclose. The borrowers responsibili...
  I live in a mobilehome and am over 62, can I get a reverse mortgage? Many mobilehomes (now referred to as Manufactured Homes) can qualify for a reverse mortgage if they conform to FHA Guidelines.  the basics of the guidelines are as follows: The home must be constructed after June 15, 1976 It m...
  Reverse mortgages used to have a reputation as a very expensive loan.  But things have changed a lot in the last few years. One of the largest fees on a reverse mortgage used to be the FHA MIP.  Now borrowers have the option of a new HECM Saver reverse mortgage which only carries an upfront pre...
  Both the fed and the adjustable are great reverse mortgages, but before you jump the gun and pronounce the fixed rate reverse the winner.  There are some things to know about the adjustable.The adjustable rate reverse is the reverse that allows you to take your money in differing ways:  A line ...

Jeri Carmicheal

Experienced Reverse Mortgage specialist in Fresno
Do I qualify for a reverse mortgage in Fresno, CA
Spam prevention