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

Florida

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

 

New VA Credit Thresholds

 

Southchase Mortgage 1/5/18

New VA Credit Thresholds

  • 100% Purchase owner occupied starting at 560 credit score
  • 100% Cash Out Refinance owner occupied starting at 620 credit score
  • 100% Streamline Refinance owner occupied, second home, and investment starting at 560 credit score
  • Loan amounts up $1,200,000
  • No Monthly Mortgage Insurance
  • Fixed or ARM loans with competitive rates

Call 251-625-0444 now for more information.  Serving Alabama and Florida.

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

 

 

Now Licensed in FLORIDA!

We are pleased to announce that we are now licensed in the state of Florida!

As a sole proprietor mortgage broker, we work with many different lenders with hundreds of loan programs to offer which potentially save borrowers thousands of dollars over the course of their loan.

We are so confident of our rates and loan costs we actually encourage borrowers to rate shop their loan!

Call now for a no cost rate quote or preapproval.

Merry Christmas!
Penny Phillips, CRMS NMLS 204553
Certified Residential Mortgage Specialist
Certified Military Housing Specialist
Southchase Mortgage NMLS 193181
22394 Miflin Road, Suite 201A
Foley, AL 36535
251-625-0444

southchasemort@att.net
www.southchasemortgage.com

Conventional, Jumbo, VA, FHA, USDA, Commercial, and Reverse
Purchase or Refinance