Need reverse mortgage

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Forums » Real Estate Marketplace » Need reverse mortgage

Need reverse mortgage

5 posts by 2 users

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Jon Klaus

Real Estate Investor · Dallas, Texas

Moderator Donor Pro

4,805 posts
13 awards

Jan 25, 09:53 AM

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

Jon Klaus, SellPropertyFast
E-Mail: jklaus@vnetinc.com
Telephone: 214-929-6545
Website: http://www.caddostar.com

Chris Clothier

Real Estate Investor · memphis, Tennessee

Donor Pro

714 posts
7 awards

Jan 25, 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?

Chris Clothier, Memphis Invest, GP
Telephone: 901-212-9647
Website: http://www.memphisinvest.com
www.MemphisInvest.com 1(877)-773-9998 Chris D Clothier

Jon Klaus

Real Estate Investor · Dallas, Texas

Moderator Donor Pro

4,805 posts
13 awards

Jan 26, 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: jklaus@vnetinc.com
Telephone: 214-929-6545
Website: http://www.caddostar.com

Chris Clothier

Real Estate Investor · memphis, Tennessee

Donor Pro

714 posts
7 awards

Jan 26, 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

Chris Clothier, Memphis Invest, GP
Telephone: 901-212-9647
Website: http://www.memphisinvest.com
www.MemphisInvest.com 1(877)-773-9998 Chris D Clothier

Jon Klaus

Real Estate Investor · Dallas, Texas

Moderator Donor Pro

4,805 posts
13 awards

Jan 26, 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: jklaus@vnetinc.com
Telephone: 214-929-6545
Website: http://www.caddostar.com