Call: (251) 625-0444 /  NMLS 193181
Alabama Purchase, Refinance, and Reverse Mortgages

REVERSE MORTGAGE

Southchase Mortgage 2/5/2018 – Reverse Mortgage Marketing Statement

Southchase Mortgage 2/5/2018 – Reverse Mortgage Marketing Statement

 

Frequently, we hear from clients who tell us that before they contacted us, they called one of the national lenders to inquire about a reverse mortgage. What followed then was an unrelenting barrage of sales calls trying to pressure them into proceeding with the loan.

We do not operate this way. We have built and sustained our business for over 17 years by helping clients who want and need our help, and we never use pressure to coerce a client into any loan.

When a client is referred to us, they will be treated with the utmost courtesy and respect, whether we can do their loan or not.   If they do choose to work with us, they will receive a level of service that few other lenders can match.

We are all about clients shopping their loan, but they need to be aware of the risks involved with some lenders, or lender referral services.

If you know someone age 62 or older, and would like to speak to a local mortgage expert, have them call today.   We will be happy to personally meet with them at their home, bank, our office, or anywhere they feel comfortable.

We will be happy to explain how these HUD-insured loans work, and answer any and all questions they may have. If they decide that this is for them, we will then guide them every step of the way. There is no pressure- we will only answer questions and give honest advice.

 

Thanks for helping us, help you, help your clients!

 

Danny Phillips

 

Penny Phillips, CRMS, CMHS NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Home Specialist

 

Southchase Mortgage NMLS# 193181

 

251-625-0444

 

southchasemort@att.net

www.southchasemortgage.com

 

Conventional, Jumbo, VA, FHA, USDA, Commercial, Reverse

Purchase or Refinance

 

Women Face Deep Disadvantages in Retirement

Women Face Deep Disadvantages in Retirement

Women account for a disproportionately large chunk of retired Americans, but shoulder a disproportionate amount of the burdens that older folks carry as they age.

Women don’t just earn less because of the enduring pay gap — they also take extended time off to take care of children or other family matters, clocking an average of 12 years out of the labor force, and that is going to have a big impact on their Social Security income, as Social Security calculates benefits in part on the amount of time one spends in the workforce.  In addition, women are far more likely to work part-time during their careers in order to juggle childcare, and even those who work full-time might have to decline promotions or positions that require significant travel, potentially restricting access to employer-sponsored retirement plans and hindering their ability to build significant quantities of retirement savings.

And after a lifetime of these structural and social disadvantages, women often find themselves alone in their golden years: There are 6 million more women than men above the age of 65, as men generally have shorter life expectancies.

For most women, widowhood is inevitable, and often for an extended amount of time: 15-year periods of widowhood are not uncommon.

Once the husband is gone, the widow loses his Social Security benefits, and may have to endure health problems alone — often after providing care to their ailing husbands toward the end of their lives. And while many couples plan for a long retirement, Stone pointed out that older married folks tend to only think about their life together as a couple, and not about what might happen when one of them dies.

Faced with these facts, a Home Equity Conversion Mortgage, or reverse mortgage, can be a significant part of women’s retirement planning.

Home Equity Conversion Mortgages can allow adult children to provide care for their elderly mothers in the family homestead, allowing her to maintain her lifestyle by providing financing for in-home extended care.

If you know someone who may be a candidate for a Home Equity Conversion Mortgage, ask them to call today.  In the 17 years we have been in business we have helped many people with this product, and we have seen the tremendous difference it can make in someone’s peace of mind and well-being.

No offering Home Equity Conversion Mortgages (Reverse Mortgages) in Alabama and Florida.

Call 251-625-0444

Penny H. Phillips, CRMS, CMHS, NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Home Specialist

 

Southchase Mortgage  NMLS# 193181

 

Questions?

Southchase Mortgage

Do you have a question about a mortgage scenario?  Even if you aren’t ready to submit an application, I will be happy to answer your questions.

You may be thinking about relocating to the beautiful Alabama or Florida Gulf Coast.  To areas like Foley, Gulf Shores, Orange Beach, Daphne, Fairhope, Pensacola, Gulf Breeze, Navarre, Fort Walton, or anywhere in Alabama or Florida.

As a mortgage broker, I work with multiple lenders, and have access to hundreds of lending programs-not just a few.  This means more choices and incredibly low rates, whether you are considering a purchase, refinance, or even a home equity conversion mortgage (reverse mortgage).

If you have a question about any of our mortgage programs, call 251-625-0444 today.

We look forward to hearing from you!

 

Penny Phillips, CRMS NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Home Specialist

Southchase Mortgage NMLS# 193181

251-625-0444

southchasemort@att.net

www.southchasemortgage.com

 

Conventional, Jumbo, VA, FHA, USDA, Commercial, Reverse

Purchase or Refinance

 

A Couple of Reverse Mortgage Myths

Myth #1– One of the biggest misconceptions about a Home Equity Conversion Mortgage (HECM) or Reverse Mortgage, is that the borrower is “giving up their home”.  This is categorically not true.  A Reverse Mortgage incurs a lien on the home just like any other loan, with one big exception- Reverse Mortgages are non-recourse loans.  This means that the only collateral for the lender is the property itself.  All contents of the home, as well as all other assets of the borrower are excluded from the loan. The borrower retains full ownership of the home, and is free to sell the home, or refinance the reverse mortgage into a forward mortgage, at any time.

Myth #2- Another misconception is that Reverse Mortgages are an assist for poor people, which is changing.  More and more affluent borrowers with multimillion dollar homes and healthy retirement assets are using Reverse Mortgages as part of their financial and estate planning to enhance their overall quality and enjoyment of life.

Are you or your spouse age 62 or older, and considering a Reverse Mortgage, and would like to speak to a local mortgage expert?

For over 17 years we have been helping Alabamians with forward and reverse mortgages, from Decatur to Gulf Shores, and all points in between.

We will be happy to talk with you, explain how these government-insured loans work, and answer any and all questions you may have.  We can do this over the phone, or if you prefer you are welcome to stop by our office in Foley, AL or we can come to you.  If you decide that this is for you, we will then guide you every step of the way.

 

Penny Phillips, CRMS NMLS# 204553

Southchase Mortgage NMLS# 193181

251-625-0444

southchasemort@att.net

www.southchasemortgage.com

 

Conventional, Jumbo, VA, FHA, USDA, Reverse

Purchase or Refinance