Please email your buyer scenarios to Jeff Lazerson by clicking HERE or call him at (949) 322-8640 and let’s see if we can solve your loan approval challenges!
Week of 1/14/17:
Elderly couple want to sell their two story home, down size square footage and go to a one level home.
All they have is social security and a small pension which is not enough to qualify. They are able to sell and manage to put 48 percent down on a smaller place (typically reverse mortgages require at least 40 percent down but it does depend on the DOB of the youngest borrower). They qualify for and get funded on a reverse mortgage which requires no payments. Deal gets done.
Realtor is a hero!