Hovig Khatchadourian Reverse Mortgage Expert’s Post

The first question that I get on reverse mortgages loans is: Will the bank get my loan after I die? The answer is NO. The house is yours. You or your heirs can do whatever they want with the house. Here are some options... 1- Sell the house and pay off the reverse mortgage balance, Pocket the rest of the equity. 2- Refinance and pay the reverse mortgage balance, keep the house. Maybe even rent it out for income. It's all about securing your golden years with peace of mind. Don't let the wrong information stop you from doing so. Wanna know more? Comment below or call us for the inside scoop on reverse mortgages! #ReverseMortgage #RetirementPlanning #FinancialFreedom American Mortgage Factory, 818-307-5544, NMLS#384113, NMLS#333999, DRE #01438921 See less

Myth Buster: Reverse Mortgages! 🏡 Did you know that with a Reverse Mortgage, you can't owe more than your home's value? It's true! This non-recourse loan means if your loan balance exceeds your home's worth, you simply walk away. Have you heard this myth before? Let's clear the air! When borrowers leave their homes, many find they still have equity left. This means selling the home often allows them to pay off the loan and take that remaining equity with them. What questions do you have about Reverse Mortgages? Reach out #ReverseMortgage #MythBuster #MoneyMatters

Myth Buster: Reverse Mortgages! 🏡 Did you know that with a Reverse Mortgage, you can't owe more than your home's value? It's true! This non-recourse loan means if your loan balance exceeds your home's worth, you simply walk away. Have you heard this myth before? Let's clear the air! When borrowers leave their homes, many find they still have equity left. This means selling the home often allows them to pay off the loan and take that remaining equity with them. What questions do you have about Reverse Mortgages? Reach out #ReverseMortgage #MythBuster #MoneyMatters

Saving 0.25% on your mortgage isn't worth the effort of refinancing, right? On a $400k mortgage, going from 6.50% to 6.25% interest is a saving of "just" $2 per day. Who cares? But multiply that out to a standard 30 year loan term. That $2 per day is about $23,000 that you can either have in your pocket or have paid to the bank. I know which I'd rather do! In my blog article "Small Savings Pay Off" I show how these savings can be even greater. Check it out at https://lnkd.in/g2afjxFU, or contact me at Mortgage Choice Darwin now to get a great rate on your loans and achieve financial freedom sooner!

Want to save money on your next mortgage? When it comes to financing what will likely be your largest investment, securing the best interest rate can save you thousands over the life of your loan. Here are 3 tips to help you secure the best interest rate when it's time to buy. → And remember: 1. Rates are always changing. 2. You are NOT stuck with the same rate forever. 3. You can refinance & cash out your equity later at a different rate and term. If you are interested in comparing estimates, send us a message — we’d love to help you get to the payment you are comfortable with, regardless of the interest rate. Kelly & Robert Doucet Call/Text: 408.605.0129 MyEDHHome.com [email protected] DRE# 01196389 | #01185577 #EDHRealEstate #EDHRealtor #SacramentoRealtor #Realtor

Mortgage interest rates are fleeting. They’re here today but gone tomorrow! Economic news can change the direction of the 10 yr treasury in a hurry, which in turn affects mortgage interest rates…either good or bad! If you’re thinking of refinancing your mortgage, be ready to go at the drop of a hat, because sometimes, that’s all the time you have. Complete an application, upload the required documents your lender asks for, and have your credit report pulled and in your file. When the rates drop, your lender will want to work fast to lock in the rate that guarantees you savings each month. If they don’t have everything they need, you may miss that opportunity. Don’t wait, get ready! Message the word ‘REFI’ if you’re interested to see how much money you could save every month by refinancing your loan. #refi #refinance #interestrates #mortgagetips #homeowner #loweryourpayment #lowerrate #cashout #rateandterm

🏡 Curious about Reverse Mortgage Loans? Take our quiz to find out if it's the right financial move for you! Read the article now! 👉 https://bit.ly/3PKEVKb #RetirementPlanning #HomeOwnership

Curious about reverse mortgages? 🏡 A reverse mortgage is a type of loan for homeowners 62 years or older that allows you to convert part of the equity in your home into cash. Unlike a traditional mortgage where you make monthly payments, with a reverse mortgage, you receive payments from the lender. It's a great option for retirees looking to supplement their income. Have more questions? Let's connect! #ReverseMortgage101 #FinancialFreedom #RetirementPlanning"

Whether reverse mortgage loans are a scam is a common concern. While they're certainly not scams, they do require careful consideration to understand if they're right for your situation. Today’s FHA-insured Home Equity Conversion Mortgage (HECM) loans, the most popular type of reverse mortgage, have enhanced consumer protections, helping borrowers fully understand the loan terms and avoid being taken advantage of by unscrupulous lenders. Have questions or concerns about reverse mortgages? Share your thoughts in the comments. #ReverseMortgageTruths #FinancialEducation #Homeownership #RetirementPlanning

Ever heard of a NO-INCOME loan?  This borrower is unable to qualify for a traditional mortgage because of certain circumstances surrounding their employment and income. They can't even qualify for a non-traditional mortgage, because their business is so new. They originally purchased this home (which is their primary residence) with cash. Now they want to tap into the equity so they can expand their business quicker, so we're doing a cash-out refinance to pull out funds so they can scale. So even though they don't have rental income, pay stubs or tax returns, they can still qualify for a mortgage. You can do this on a refinance or a purchase, all you need is equity, reserves, and a good credit score.