A letter from a recent FHA insured reverse mortgage client to my office. June 2018.
A testimonial for Henry Munoz Loan Officer
"If you are pressed financially, retired or getting ready to retire, and want a budget you can live with, then you are in a position in which I found myself involved three years ago."
"Celebrity television commercials bombarded me with the great expectations of a reverse mortgage that promised the moon, paradise and a happy hereafter. I wasn’t looking for any of those things. I merely wanted a program that would allow me to live within my means without stress."
"That is exactly what I didn’t get. I was short-changed on the amount of cash I would receive, still had my bills plus insurance and property taxes on my home. What a bitter disappointment. One thing became certain - I was through with reverse mortgages."
"Then I met Henry Munoz, a licensed mortgage loan officer . He said that maybe he could get me a better deal. Yeah, and rainbows will be dripping with gold nuggets tomorrow afternoon. However, I had nothing to lose by listening to his spiel."
"Henry didn’t present me with the usual bait and switch offer. He laid out a play for me to renew my situation with a new reverse mortgage. You could say I saw it as more pie in the sky despite his promises. However if I accepted his offer I could reject it prior to closing of escrow."
"Boy, oh boy, am I glad I listened to Henry. He not only came through with what he promised but a lot more. When escrow closed I not only got money up front, but another big check to come at the end of my first year. Plus, my home insurance and property taxes will be paid annually as part of the deal.
I was further surprised to learn that I still own my home and I can also leave it to my heirs. It is like a low interest loan. If I become more solvent I’ll be able to pay off the mortgage. Other than that, if I die during the life of the mortgage, my son and his wife can decide whether or not they want to refinance the loan and keep the house in the family."
"I don’t know about you, but I’m sure glad that I hooked up with Henry .Maybe this is just the kind of deal you have been looking for. Anyway, it is
worth a try. As they say, nothing ventured, nothing gained."
Raymond Strait - Celebrity Author,Journalist and investigative reporter ,Hemet, California
The purpose of this website is to provide accurate, factual and concise information regarding FHA home equity conversion mortgages (HECM) also known as reverse mortgage. Please do not be fooled by many of the marketing websites that gather your private information and sell your information to different mortgage companies.
Watch out for websites with terms like,"Consumer Advocate", "Consumer Affairs" that is NOT a Government website OR "Best reverse mortgage companies"Or similiar sounding phrases.A good idea is to always look for a license number or a disclaimer stating that the website is a marketing company,not a licensed Lender.
A good portion of my clients have been given initial advice by unlicensed persons who have no knowledge or education of how a reverse mortgage works and what are the facts versus the myths.
Please read through my website and most of your questions and concerns should be answered. The website is continually updated to reflect current changes regarding the Federal Housing Administration and HUD guidelines pertaining to Hecm /Reverse Mortgage Loans.
And yes, you still have title to your home. Just like any Conventional ,Veterans Home Loan, or Fha standard mortgage.You or your heirs can sell it or refinance out of the Reverse Mortgage at any time.
In the event that a Reverse Mortgage does not make financial sense or the property does not qualify,I have other Refinance Loan Programs,Fha,Conventional or a Veteran home Loan options.
You may also refinance your existing reverse mortgage if you have additional market value from the first time you took out the first reverse mortgage.
Henry Munoz based in Redondo Beach, California is a licensed Loan Officer also known as a Mortgage Originator under the National Mortgage Licensing system (Nmls #228855) and The California Bureau of Real Estate Broker License(Bre# 01786680) in addition to being registered approved under the California Department of Business oversight. I am licensed to originate loans in the State of California only.
Please call or email me in order to receive a evaluation and a detailed financial analysis based on your specific situation. Even if you have been denied by another lending institution.
Quote By Sergeant Joe Friday on Dragnet:
"Just the facts, ma'm"