Reverse mortgage

Reverse mortgage

 

What is a Reverse Mortgage?

While you may have heard about a reverse mortgage loan, do you really know what it is? When you hear “loan”, you conclude you owe something. However, when associated with “reverse”, what is its meaning?

Are you over 62 years old?  A reverse mortgage loan, or house equity conversion, is available to seniors 62 years old or older. This tool aids senior homeowners in their retirement years.  Why?  Because when their income is not as it was during their younger, more productive years, this tool allows seniors to transform a part of their home’s equity into a certain amount of money. Instant money is available to the elderly without needing to sell their house.  The also don’t need to make additional regularly monthly mortgage payments.

How a Reverse Mortgage Helps Seniors

Reverse mortgage loans permit senior citizens to access their home’s equity.  There are two ways you may this off. The repayment can be deferred until you pass away.  Or, you may liquidate it when you  vacate the house you currently own. Subsequently, this is a great opportunity for the elderly.   Since they make no payments, it provides liquidity in retirement. A reverse mortgage is an excellent financial tool.  The interest on the loan is added to the loan balance itself every month.

Why Work with Mario Quintero

Is a reverse mortgage right for you?  Are you still confused on the benefits this loan may provide you?  Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

Art Basel Miami

Art Basel Miami

reprinted from timeout.com

Heading to Miami’s Art Basel this Weekend?

Some 268 of America’s top galleries and art museums will be showing us what they’ve got at annual contemporary art bonanza, Art Basel Miami Beach 2017. Since its launch in 2002, Art Basel has become North America’s premier art fair. Because of this, expect amazing contemporary paintings, films and videos, sculptures, drawings, photography, digital art and installations from more than 4,000 artists. You might even see them if you can tear yourself away from the parties and buzzing rooftop bars. Take a road trip or book your flight and use our guide for all your art, event, party, eating, drinking and hotel needs.

What is Art Basel Miami Beach?

First staged in 2002, Art Basel Miami Beach is an annual art show held at Miami Beach. Art Basel Miami stages three major fairs each year. These are held in Hong Kong, Basel and Miami Beach. Art Basel focuses on modern and contemporary art. It puts more than 250 galleries and 4,000 artists from across the globe in front of the art world’s top curators, museums and collectors. Hence, the weekend of Art Basel has become a major draw for Miami.  as it showcases major events held in conjunction with the show.  As an added bonus, have fun celebrity-spotting.

When is Art Basel Miami?

Art Basel Miami Beach is held December 7, 2017, through December 10, 2017.

Where is Art Basel Miami Beach held?

Art Basel Miami Beach 2017 is at the Miami Beach Convention Center, 1901 Convention Drive.  Check out a floorplan of the Convention Center to see who’s showing and where. Other works, film screenings and performances take place close by at Collins Park and SoundScape Park.

Why Work with Mario Quintero

Art adds great value to your home.  Mario’s wife, Claudia Quintero, has a keen eye for art and home design.  Moreover, Mario has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

reverse mortgage

reverse mortgage

Who Qualifies for a Reverse Mortgage?

A  reverse mortgage is a unique financial instrument designed to benefit property owners age 62 and older. Though we help individuals with all types of loans, Miami-based Strock & Tanner Mortgage specializes in a reverse mortgages.  Clients for a reverse mortgage are seniors searching for a way to tap their home’s equity without having to repay the loan while they still live in their home.

How does a Reverse Mortgage work?

A reverse mortgage pays you by returning you the equity in your home. You do not have to repay the proceeds until death. So, you may live in the home comfortably without making mortgage payments. You are still responsible for insurance and taxes. Many Florida seniors are you using a Florida reverse mortgage today in order to offset their retirement. This tool allows for the optimum quantity of flexibility to resolve your specific financial requirements and needs.

Say, for instance, you need to pay healthcare expenses or any other regular payments to help subsidize your monthly income and earnings. Unlike standard and traditional home equity loans, you do not have to repay a reverse mortgage until you die.  You must continue living in this house, however.

Why Work with Mario Quintero

Is a reverse mortgage right for you?  Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

 

 

 

benefits of a reverse mortgage

benefits of a reverse mortgage

 

Benefits of a Reverse Mortgage

There’s a certain misconception about reverse mortgages. Many believe reverse mortgages are financial tools only those with debt or final distress take. This is untrue.  A reverse mortgage is a financial instrument you may use in addition to other financial instruments when you are about to enter into retirement. The reality is that many Americans are unprepared for retirement.  However, there are many benefits of a reverse mortgage.

A Few Key Benefits of a Reverse Mortgage:

  • BeIt gives you access to cash.
  • It extends the life of other retirement savings by not having to tap into those
  • Financial counseling is required to ascertain they qualify for the product.

According to Bankrate, “The reverse mortgage is probably one of the most misunderstood programs out there.  But, when most people who don’t understand how it works learn about it, the most common thing they say is, ‘Why doesn’t everybody get one?'”

Why Work with Mario Quintero of STC Loans

Would you like to take advantage of the many reverse mortgage loan benefits available? Do you think you qualify for a reverse mortgage? Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Let me be both your trusted Miami realtor and Miami mortgage broker.  Let me be your realtor for life.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

Reverse Mortgage for New Home Purchase

Reverse Mortgage for New Home Purchase

 

Reprinted from Reverse Mortgage Daily

Reverse Mortgage for New Home Purchase…

 

Reverse mortgages have many different uses which can accommodate a variety of your personal needs.  However, one particular usage is often overlooked.  This is for you to be able to use a reverse mortgage for a new home purchase.

At the most basic level, the major benefit of this tool is that it allows homeowners age 62 and older the ability to obtain a reverse mortgage.  And, then buy a new home all within a single transaction. But there are also other benefits to this unique product which may not seem so obvious.

“In terms of coordinating the use of debt for housing, the ability to not make a monthly mortgage payment reduces your fixed costs. It also provides you potential relief for the need to spend down investments,” according to the experts.

The HECM for Purchase could also allow you the opportunity to downsize, or even upsize, into a new home during retirement.

If you downsize, experts note this tool could also free up more assets from the sale of the previous home, which could then be invested for future use.

If you’re upsizing, and you have the financial resources to manage this, experts advise this could allow for a more expensive home.  This is key particularly when you consider the potential difficulty of obtaining a traditional mortgage after retirement.

 

Why Work with Mario Quintero

Is a reverse mortgage right for you?  Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

Reverse Mortgage Florida

Reverse Mortgage Florida

Reverse Mortgage Florida as a Retirement Tool

 

Will you have enough funds available when you retire?  Are you in your early 60’s and still carrying a mortgage on your home?  How will you meet your financial obligations when you earn less?  A reverse mortgage Florida may be your answer.

According to a recent study by Harvard, “One in five Americans will be older than age 65 within the next 20 years.” Wouldn’t you want to continue living in your home as long as possible?   Furthermore, “Homeowners comprise the majority of cost-burdened older households. The number of owners carrying mortgage debt into retirement has increased over the past 20 years.”

As a result,  “Since you own a home, your high housing costs might be met with prudent and early financial planning.”  This may include planning for a reverse mortgage Florida.

Get educated about your financial challenges. If you to choose to remain in your home, you must address your options.

 

Why Work with Mario Quintero

Would you like to take advantage of the many reverse mortgage loan benefits available? Do you think you qualify for a reverse mortgage? Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

 

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

Reverse Mortgage Loan Benefits


Reverse Mortgage Loan Benefits

 

Reverse Mortgage Loan Benefits

As a senior citizen, reverse mortgages provide you with a valuable tool.  This tool can be used as part of your overall strategy in financial planning for retirement. Reverse mortgage loan benefits are numerous. If you’re looking to supplement your retirement income, have a look at just three key benefits listed below:

#1 You remain the owner of your home.

A common misconception of reverse mortgages is that the lender takes ownership of your home. This is false. You continue to maintain ownership of your home, as long as you comply with the terms of the loan and pay your taxes and insurance.

#2 There are no monthly mortgage payments required from you.

One of the most attractive benefits of reverse mortgages is that payments are made TO you, as long as you live in your home. This is quite different from a traditional forward mortgage where you must pay funds in a monthly amount. With reverse mortgages, you receive funds. The loan is repaid when you sell your home, move to another primary residence, or when the last borrower leaves the home.

#3 Choose from different disbursement options.

Each individual senior has different needs. Thus, there are different disbursement options to cover different needs. This includes the choice to receive funds in a full or partial sum, a line of credit, monthly payments, or a combination of any of these.

These are only a few of the many reverse mortgage benefits. For a complete view of how a reverse mortgage can benefit you in your particular situation or to learn more about reverse mortgage pros and cons, call us at American Advisors Group. Your Reverse Mortgage Professional will sit down with you and go over a customized financial strategy in order to take full advantage of all the benefits a reverse mortgage has to offer you.

 

Why Work with Mario Quintero

Would you like to take advantage of the many reverse mortgage loan benefits available?  Think you qualify for a reverse mortgage?  Have a look at your options  with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. Because of this,  his experience is tested and true.  Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

 

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

A Reverse Mortgage Home Purchase

A Reverse Mortgage Home Purchase

 

What is a Reverse Mortgage Home Purchase

Many older homeowner’s have taken advantage of reverse mortgages as it has allowed them to refinance their existing mortgage or increase their cash flow and remain in their home, mortgage free.  Many retirees don’t realize, however,  they also have the opportunity to purchase a new home with the HECM reverse mortgage purchase program.  Often, people use this tool to buy a home they couldn’t otherwise afford while still eliminating mortgage payments. Utilizing this tool, you can realize the benefits of a reverse mortgage with no monthly mortgage payments.   And, you can move to a new home all in a single transaction.

Requirements

To qualify for a reverse mortgage home purchase, you must be at least 62 years old.  If you have a younger spouse, you can take advantage of the new non-borrowing spouse rules for the FHA Insured HECM Reverse Mortgage. The down payment is higher than traditional mortgages because you don’t have to make mortgage payments.  Because of this, the equity in your home is used to pay the loan back after you leave the home permanently.

Since you make no payments while you live in your home, you must have equity from the onset. The younger you are, the more money you need to contribute because of your longer life expectancy. The income qualification is lower than traditional mortgages because there are no mortgage payments added to your debt ratio. With new guidelines in place, you must show a good payment history for past housing and debt expenses.

Eligible Properties

Eligible properties are single family residences, new construction where certificate of occupancy has been issued, HUD approved condos and townhouses. Down payment sources include cash from savings and investments, gifts from family members or proceeds from the sale of an existing home or asset. Funds that are borrowed such as seller financing or credit cards are not allowed as a funding source, nor would a subordinate lien be allowed. Closing costs must be paid by the buyer.  Seller concessions are not allowed. Once appraised and inspected, if repairs are necessary,  the seller must complete these prior to closing.

Most people want to live in nicer homes, at any time of their lives.   Why not do so through this instrument allowing you that ability?

Get in Touch with Me

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

Hurricane Preparedness Tips

Hurricane Preparedness Tips

Hurricane Preparedness Tips

 

Preparing in advance is ideal.  However, what better time to reinforce and share hurricane preparedness tips than right as one is about to strike?  If there can be a positive about an imminent hurricane strike, having plenty of time to prepare for one is a hurricane’s benefit as opposed to other natural disasters.

Another positive about a hurricane is that Floridians have much experience with these.  Floridians have been hit by hurricanes regularly throughout the years. Hurricane season extends between June 1st and November 1st.  As we speak, Florida is about to be impacted by the first major hurricane in over a decade.  Traveling as a Category 4, Hurricane Matthew bears great strength, also extending over 500 miles wide.

Moreover, the following two websites provide the latest details on final check list preparations. Both NOAA (National Oceanic and Atmospheric Administration) and the National Hurricane Center offer useful tips to guide you with hurricane preparations.   You may access this website here.

The U.S. government also provides excellent resources on how you may prepare your home in the event of a hurricane. You may access this website on hurricane readiness and preparedness here.  

While much of the information on these two sites are the same,  have a look at the most important factors to keep handy below:

Tips:

Get in Touch with Me

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

The Condo Reverse Mortgage

The Condo Reverse Mortgage

The Condo Reverse Mortgage

Do you own a condo?  Are you over 62?  Soon, you may be able to qualify for a condo reverse mortgage, if the FHA proposed rules become enacted.

“In response to changing conditions in the condominium market, the Federal Housing Administration (FHA) today proposed new rules that would allow individual condo units to become eligible for FHA financing, including Home Equity Conversion Mortgages (HECMs), an agency spokesman confirmed to RMD,”  according to Reverse Mortgage Daily.

The agency further went on to state, “FHA’s intent is to modify its condominium rules to ensure financial soundness and project viability, but in a manner that is more flexible where possible and responsive to the market.”

Further excerpts from Reverse Mortgage Daily:

FHA currently requires that approved condos have a minimum of 50% of the units occupied by owners. Through this proposed rule, FHA is specifically inviting comments on this issue and is proposing to establish an allowable range between 25-75%.

“While having too few owner-occupants can detract from the viability of a project, requiring too many can harm its marketability,” FHA stated in the release. “The range allows FHA to choose a specific percentage that is responsive to future market changes.”

 

An individual unit may be eligible for single-unit approval if it meets a variety of criteria, including that the condo is not a manufactured home and is located within a project that has at least five dwelling units.

Projects approved under this rule are fully completed.

The proposal is the latest move by FHA regarding its condo financing policies.

 

Get in Touch with Me

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.