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.

 

 

 

Friday the 13th History

Friday the 13th History

reprinted from History.com

The History of Friday the 13th

Long considered a harbinger of bad luck, Friday the 13th has inspired a late 19th-century secret society, an early 20th-century novel, and a horror film franchise.   Additionally, it has inspired not one, but two unwieldy terms—paraskavedekatriaphobia and friggatriskaidekaphobia—that describe fear of this supposedly unlucky day.

Just like walking under a ladder, crossing paths with a black cat or breaking a mirror, many people hold fast to the belief that Friday the 13th brings bad luck. Though it’s uncertain exactly when this particular tradition began, negative superstitions have swirled around the number 13 for centuries.

While Western cultures have historically associated the number 12 with completeness (there are 12 days of Christmas, 12 months and zodiac signs, 12 labors of Hercules, 12 gods of Olympus and 12 tribes of Israel, just to name a few examples), its successor 13 has a long history as a sign of bad luck.

The ancient Code of Hammurabi, for example, reportedly omitted a 13th law from its list of legal rules. Though this was probably a clerical error, superstitious people sometimes point to this as proof of 13’s longstanding negative associations.

Fear of the number 13 has even earned a psychological term: triskaidekaphobia.

According to biblical tradition, 13 guests attended the Last Supper, held on Maundy Thursday, including Jesus and his 12 apostles (one of whom, Judas, betrayed him). The next day, of course, was Good Friday, the day of Jesus’ crucifixion.

The seating arrangement at the Last Supper is believed to have given rise to a longstanding Christian superstition that having 13 guests at a table was a bad omen—specifically, that it was courting death.

Though Friday’s negative associations are weaker, some have suggested they also have roots in Christian tradition: Just as Jesus was crucified on a Friday, Friday was also said to be the day Eve gave Adam the fateful apple from the Tree of Knowledge, as well as the day Cain killed his brother, Abel.

An important milestone in the history of the Friday the 13th legend in particular (not just the number 13) occurred in 1907, with the publication of the novel Friday, the Thirteenth written by Thomas William Lawson.

The book told the story of a New York City stockbroker who plays on superstitions about the date to create chaos on Wall Street, and make a killing on the market.

The horror movie Friday the 13th, released in 1980, introduced the world to a hockey mask-wearing killer named Jason, and is perhaps the best-known example of the famous superstition in pop culture history. The movie spawned multiple sequels, as well as comic books, novellas, video games, related merchandise and countless terrifying Halloween costumes.

In more recent times, a number of traumatic events have occurred on Friday the 13th, including the German bombing of Buckingham Palace (September 1940); the murder of Kitty Genovese in Queens, New York (March 1964); a cyclone that killed more than 300,000 people in Bangladesh (November 1970); the disappearance of a Chilean Air Force plane in the Andes (October 1972); the death of rapper Tupac Shakur (September 1996) and the crash of the Costa Concordia cruise ship off the coast of Italy, which killed 30 people (January 2012).

Get in Touch with Mario, Your Miami Realtor

Don’t let Friday the 13th scare you.  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. Let’s find your dream home!

 

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.

Forgotten Passwords

Forgotten Passwords

Forgotten Passwords

Several years ago, a young man named Maruicio Estrella had one of those inspirational moments that makes so much sense in hindsight.

Due to a recent divorce in his life, he found himself in an angry depression. The final straw seemed to be one day when he walked into his office and was faced with a “Your Password Has Expired” message on his computer.

Remembering that a former boss had combined to-do lists with passwords, he had a sudden insight. He would use a password to change his life.

He came up with the password Forgive@h3r. The constant reminder over the next 30 days as he typed in his password every morning seeped into his subconscious. It had a healing effect on him.

At the end of 30 days, he changed his password to Quit@smoking4ever. According to Estrella, he quit smoking overnight.

Here are some other passwords he has used since, and his results:

  • Save4trip@thailand. I went 3 months later.
  • Sleep@before12. It worked. Got lots of sleep.
  • No@drinking2months. It worked, felt great!
  • Eat2times@day. Never worked, still overweight.
  • Get@c4t! It worked…we have a cat.
  • Facetime2mom@sunday. It worked. I talk with my mom every week.

What kinds of goals can you put into your passwords, and possibly into your life?

Why Work with Mario Quintero

I help people reach their goals.  Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

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 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 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.

 

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.

Miami Reverse Mortgage

Miami Reverse Mortgage

 

What is a Miami Reverse Mortgage?

Do you know how a Miami reverse mortgage works?.  You may or you may not.

Are you over 62 years old?  Interested in eliminating your monthly mortgage payments?  Looking for income for life?

A Miami reverse mortgage loan is available to seniors who are above 62 years old. One function of the Miami reverse mortgage is designed to help seniors eliminate their monthly mortgage (in the event they still have one).  There must be enough equity in the property to qualify. The Miami reverse mortgage allows seniors above 62 to transform a part of their home equity into immediate cash.  This eliminates the need to sell your home.  It also eliminates your need to refinance.

Moreover, a reverse mortgage loan allows you to access your accumulated home equity.  Through this financial instrument,  you don’t have to make payments on the reverse mortgage.  Because of this, payments are deferred until you pass away or you vacate your property.  This is an amazing opportunity for you, as a senior citizen. Why? Because you are not required to make a mortgage payment.  You don’t have to pay any interest.  Still, you must continue to have homeowner’s insurance. And, you must pay the yearly property taxes due on your home.

 

What Mario Quintero Can Do For You?

If you are still confused about what a Miami reverse mortgage loan is, contact me here.  Call me at 305-598-1600.   I’ve helped thousands, like you,  secure financing through mortgage loans since 2002.

 

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 loan.  Furthermore, I can help your senior parents secure a comfortable retirement through a reverse mortgage.

Florida Reverse Mortgage

Florida Reverse Mortgage

 

The Florida Reverse Mortgage

 

The Florida reverse mortgage is the answer to senior citizens’ financial needs.

How a Florida Reverse Mortgage Works

What exactly is a Florida Reverse Mortgage and why it is beneficial to seniors?

The Florida reverse mortgage program is available to home owners who are 62 years and older.  Consequently, this mortgage makes it possible to convert a part of the equity of the senior’s home into tax-free cash flow. This program was offered so that seniors have the opportunity to tap their home equity without needing to sell their homes or refinance, hence, getting a new mortgage.

Because of its benefits, rather than making regular monthly payments to a loan provider,  such as a mortgage company, the Florida reverse mortgage pays the senior homeowner.  Regardless of this, you must still pay your home’s real estate taxes and insurance.

Strock & Tanner Mortgage Will Help you

STC Loans is a well known company based in Miami, Florida, offering the Florida reverse mortgage to senior citizens within the entire state.

How do we help you?  STC Loans takes pride in having developed a reputation for being the Florida mortgage company which takes care of its clients as we work for you, our customer.  Because of this,  seniors achieve the best quality of life throughout their years of retirement.  Strock & Tanner Mortgage is one of the leaders in the Florida reverse mortgage market.

Through a team of the knowledgeable and experienced advisors in the Florida reverse mortgage market, we have the ability to simplify the process, as we close most reverse mortgages in not more than a month.

Get in Touch with Us

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.