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BiggerPockets

Need reverse mortgage

5 posts by 2 users
635 views

Jon Klaus Verified Moderator Donor

Investor from Garland, Texas

Jan 25 '13, 09:53 AM


Specifically looking for a HECM Saver for a borrower/property in the Dallas DFW TX area.



Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.sellpropertyfast.com


Chris Clothier Verified Donor

Investor from memphis, Tennessee

Jan 25 '13, 07:33 PM


I guess I could research it, but I would much rather hear from someone I knows has experience with the acronym. @Jon Klaus, what does HECM Saver mean?



Medium new mi logoChris Clothier, Memphis Invest, GP
Telephone: 901-751-7191
Website: http://www.memphisinvest.com
www.MemphisInvest.com 1(877)-773-9998 Chris D Clothier


Jon Klaus Verified Moderator Donor

Investor from Garland, Texas

Jan 26 '13, 03:41 AM


Home Equity Conversion Mortgage. It's the FHA insured reverse mortgage. The Saver version has less cost than the standard, but also has lower borrowing limits.



Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.sellpropertyfast.com


Chris Clothier Verified Donor

Investor from memphis, Tennessee

Jan 26 '13, 06:52 AM


Another example of high quality. With BiggerPockets.com, I know I have the opportunity to actually learn something new each time I get on the forums. @Jon Klaus, thanks for the answer. I am going to forward it to our team on the ground there in Dallas and see if there is anything we can do to provide what you need.

All the best to you -

Chris



Medium new mi logoChris Clothier, Memphis Invest, GP
Telephone: 901-751-7191
Website: http://www.memphisinvest.com
www.MemphisInvest.com 1(877)-773-9998 Chris D Clothier


Jon Klaus Verified Moderator Donor

Investor from Garland, Texas

Jan 26 '13, 06:59 AM


Thanks, Chris, There are few mortgage brokers/lenders that specialize in these, so the fees can be high. I'm wanting to shop for lower cost/good service. I appreciate your help!



Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.sellpropertyfast.com


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