Reverse Mortgage Specialist

When I come in contact with something that I think can help Ocean Hills Country Club buyers or other seniors, I just have to share. A purchase reverse mortgage is one of these things, and Owen Coyle is a great person to explain how it works.

Here is Owen Coyle’s bio in his own words:

“I’m Owen Coyle, a 79 year young “Seasoned Citizen” living in Escondido California.

As of April 1, 2015, I’m starting my 11th year as a Reverse Mortgage Specialist.
I have no desire to retire, so as long my health remains good, I’m planning on
setting up reverse mortgages for at least the next ten (10) years to age 90!!!

I absolutely have a passion for working with senior home owners, improving their
“Quality of Life” and giving them “Peace of Mind” by setting up reverse mortgages
for them.

A reverse mortgage is not for every senior, but when “it fits”, it can absolutely change their
life for the better.  When I meet with the seniors, I always suggest that they include as
many of their children as possible in our meetings.  I always want to have the entire family
“On The Same Page” and understand how the reverse mortgage will benefit their parents –
based on their particular situation.

Most reverse mortgage companies do business by using the telephone, email or U.S. Mail
and use a notary to take care of the reverse mortgage “Application” & “Closing Documents”.

I do business “The Old Fashion Way”.  I go to the senior’s home and sit down with them
and their children at their kitchen and talk to them “Face to Face”.  I make sure that I answer
all their questions and that the entire family understands how the program works.”

In 2015 there were many reverse mortgage revisions.  Again, a reverse mortgage specialist like Owen Coyle in necessary to keep you up to date on the latest changes.

Gary Harmon, you Ocean Hills & Seniors Real Estate Specialist, would like to put you in touch with Owen.  Just contact Gary Harmon to learn more.

Reverse Mortgage Revisions

HUD is changing the rules for doing reverse mortgages as of March 2, 2015. These anticipated changes are creating a rush by reverse mortgage applicants to get grandfathered in under the old less stringent rules. One of the current requirements for obtaining a reverse mortgage is that applicants must go through counseling with an FHA approved counselor. Because time is running out before the changes take effect, counselors are getting booked up and people are experiencing a difficult time arranging for their counseling session. Reverse mortgage specialist are advising prospects to get their counseling done ASAP. If you decide to get a reverse mortgage, then you will have a much better chance to get in before the deadline. The counseling certificate is good for 6 months.

If you are considering using a purchase reverse mortgage to buy a home in Ocean Hills Country Club, I can put you in touch with a reverse mortgage specialist. Just contact me, Gary Harmon, your Seniors Real Estate Specialist.
Contact Gary Harmon

Reverse Mortgage Down Payment Required

If you are considering buying an Ocean Hills home using a reverse mortgage, you may want to know how much down-payment is required.  The answer isn’t always simple and depends on your age or the age of your spouse, whichever is younger.  See table below.

Approximate down payment based on age.

HEMC Reverse Mortgage Chart

HECM for purchase financing can make it easier and more affordable for Ocean Hills Country Club buyers 62 and older.  They can buy an Ocean Hills home that better fits their lifestyle, without ever having to make a monthly mortgage payment.  The chart above shows hypothetical  examples of the down payment required with this type of mortgage option.

If you have ever considered a reverse mortgage, I have several different lenders that I could refer to you that are knowledgeable in the area.

Contact Gary Harmon, your Seniors Real Estate Specialist.