Have a reverse mortgage lender in Menifee California explain the HECM reverse loan to you
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Menifee, California (PRWEB) December 18, 2014
Reverse mortgages have become popular over the last few years in California, and the HECM or Home Equity Conversion Mortgage is the one most commonly used. The team of mortgage experts headed by Kevin Leonard offers this product through an assortment of lenders. Not all reverse mortgage lenders in Menifee California are the same; they have different origination fees and processing fees. The group explains the basics of a reverse mortgage with their new webpage and video dedicated to that specific area. Menifee is located just north of the city of Murrieta and has a population of roughly 80,000 according to the latest Census. There are plenty of seniors in this city that could benefit from a reverse mortgage, and the group of mortgage professionals is trying to spread the word on how to apply for one. To find out more about the Home Equity Conversion Mortgage in Menifee California, or to speak directly with one of the mortgage consultants visit the new city page here, http://www.kevinleonardmortgageexpert.com/reverse-mortgage-menifee-ca
Learning more about any type of home loan is the key to making the right choice in which financing options are best for an individual. The reverse mortgage is no different, but there are still many myths out there that tend to worry seniors about this type of loan. The biggest fear people have is that the government will take away the home when they die. The truth is that this home loan is like any other type of lien, any equity left in the property will be passed down to their heirs. The reason this type of home loan is so appealing to seniors is they can live in the home without having to make a mortgage payment every month. This is a huge benefit for those living on a fixed budget, and may have a tough time covering the mortgage payment. Instead of falling behind on bills or even the mortgage payment and risk foreclosure, a reverse mortgage allows the senior to draw from the equity in the house with minimal conditions for an approval compared to a traditional loan. Some seniors are even buying a home using a reverse mortgage purchase or HECM purchase in Menifee. They put down enough on the home to where they never make a mortgage payment.
Kevin Leonard entered into the mortgage business in 1997 and since then he has become of the top reverse mortgage consultants in the industry, and has worked in this field for years. Mr. Leonard prides himself in offering constant communication with his clients so that they have a full understanding of the loan process from start to finish. He is personally responsible for thousands of fundings, and along with his team, he has over 5 billion in residential loans funded to his credit. Mr. Leonard has a full understating of the loan process from start to finish, and also consults with a long list of mortgage bankers in the secondary market. There are few, if any, that have the experience that Kevin Leonard has in the mortgage profession. He was one of the first to register with NMLS in 2008 when it was first instituted, and currently is licensed in the state of California as a loan originator. He is partnered with the best real estate agents in Riverside for a good reason—he offers fast pre-approvals with the ability to fund purchase loans quickly. To find out more about reverse mortgages in Sacramento, click on the link provided.
Phone: (858) 999-3737