Rate

Reverse Mortgage rate have come down a ½ point.

Mortgage company rate speculators try to “get ahead”.  This is not the quarter point we have been waiting for since early 2022. Instead, the rate has gone up for 19 months in a row. I am 50/50 if they will cut it, but if they do it will be in September. Based on good news the speculators have almost come down a point ready.

I know so many people are waiting, but I cannot see how someone on SS income can make it.

Also, if you are waiting, do not miss any payments. I know from experience you will not qualify for a mortgage, HELOC, or Reverse Mortgage.

Remember that a Reverse Mortgage has a floating rate lock (from the application date until the close date) which means you get the best rate when we process your Reverse Mortgage.

Take your eye off of getting the perfect interest rate, I went through the small housing bubble and it was never fun telling someone their house had depreciated.

Please call Scott Underwood “The Souths Reverse Mortgage Guy” at 205-908-2993 or email scott@reversemortgagealabama.com. We serve Alabama, Tennessee, Mississippi, and Georgia. Scott has been exclusive to the Revere Mortgage business since 2007 and I still do business the old-fashioned way; I will be your only contact. If my team needs something I will call. This means I look at your file daily, and keep up with it even though my team is doing that also.

We have broker contracts with the lenders you see on the computer or TV; I can offer you I better deal because I’m spending 1 million a month for TV ads. Ever wonder who foots that bill???????????