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@keepgrindingup7661 Күн бұрын
Hi, i'm Tom Selleck... I'd never speak for an industry which targets senior citizens it's not a scam. Now take a look at my next endeavor, Angel of mercy retirement homes
@keepgrindingup7661 Күн бұрын
Hey, as Tom Selleck has told us. It's not some fancy way for the banks to take your house. I believe him he looks like a very nice man
@bladesilver7190 2 күн бұрын
I'm 61 in NY, is there any possibility of getting an reverse mortgage line of credit?
@Dadlovesderb 5 күн бұрын
I had to stop listening to. You speak way too fast for any senior to understand!!! Wow!!
@TerryHall-l1s 21 күн бұрын
I am 66 and divorced by both my ex husband and I still own the house. My ex still lives in the house and is 74 can he still get a reverse mortgage where I would get the money since he never bought me out at the time of the divorce?
@emmettmortgage 20 күн бұрын
Depends on who is still on title. What state are you in?
@rhondanorthcutt7499 27 күн бұрын
your ebook link does not work
@emmettmortgage 20 күн бұрын
Yeah I am updating links. Email me at [email protected]
@billbonu1639 Ай бұрын
Basically their scooping up nice houses for pennies on the dollar.dont cut the grass,they can take your house, don't pay taxes, they can take it,go on extended vacation for a year with all that reverse mortgage money, they'll take it, can't afford homeowners insurance, they'll take it.why would I sell my paid off house for UP TO 60% of the EQUITY?If it's paid for and the kids are gone and you need money put it on the market for 100% of the market value,sell it,buy something smaller and cheaper, maybe a small condo or something and keep the change with no monthly payments to worry about.besides, closing costs, loan origination fees etc are your responsibility with a reverse mortgage so that's going to eat into the UP TO 60% of the equity you will have to pay back with interest.I wish I could loan someone with one foot in the grave 100k on a half million dollar house, make sure they keep it insured and in pristine condition until they die then tell their estate the loan must be paid in full with interest or I'm taking the house and make 400 grand on the side every ten years or less.most people would laugh me out of town.
@emmettmortgage Ай бұрын
I am sorry you have such short sighted vision, but what are you talking about, 60% of the equity? You also assume that senior homeowners want to move. Statistically most don't. I have helped many clients with their Reverse and it met their goals. I was very clear in my video who this is NOT for. Like anything do you own research with a licensed professional to see if it meets your goals.
@alibaba4063 Ай бұрын
Thank you for the information, very helpful!
@emmettmortgage Ай бұрын
Youre welcome. Thanks for watching!
@myrtlemoore7611 Ай бұрын
Reality Mortgage companies do not care about you they're to make money period You're better off just selling your home or renting it out
@emmettmortgage Ай бұрын
I completely disagree. Yes I and mortgage companies are in business to make money. I greatly care about all my mortgage clients. And your advice is terrible....sell the home or rent it out? Hmm...most seniors I talk with every day have no desire to do either of those. I have talked about the issues with that in previous comments above. Thank you for your comment and have a Merry Christmas and Happy New Year!
@ERabbit18 Ай бұрын
Can you send me a copy of the worksheet? Thanks!
@emmettmortgage Ай бұрын
Sure. What state are you looking to buy in?
@nurmohammadSohag-m9h Ай бұрын
Your channel's content is very beautiful, but your content is not getting views and your channel is not growing. This is due to a problem. If you want, you can grow your channel quickly by solving the problems.
@emmettmortgage Ай бұрын
Thank you
@nurmohammadSohag-m9h Ай бұрын
@@emmettmortgage Your content is great. If you optimize your videos for search engines, your channel's video views will increase and your channel will grow quickly.
@emmettmortgage 2 ай бұрын
What do you think about my mortgage predictions? Tell me what you think! Leave a comment below! 👇
@jonbadboy112 2 ай бұрын
This is great information..
@emmettmortgage 2 ай бұрын
Thank you!
@jonbadboy112 2 ай бұрын
Great content!
@emmettmortgage 2 ай бұрын
Thank you!
@diegoalbor106 2 ай бұрын
Awesome thank you!! God bless you!!
@emmettmortgage 2 ай бұрын
God bless you as well
@emmettmortgage 2 ай бұрын
Have Reverse Mortgage questions? You can call/text me or book a call at the link in my channel header.
@marcodeluca4068 2 ай бұрын
But can we reverse a reverse mortgage?
@emmettmortgage 2 ай бұрын
No
@Micapitan30 2 ай бұрын
Great content, I wish the tempo were a little slower to be able to follow 100%.
@emmettmortgage 2 ай бұрын
Thank you. Ive been working on that in recent videos.
@emmettmortgage 3 ай бұрын
Get My Free Guide 📖About the Buyer Broker Agreement! Go to this link to snag yours - form.jotform.com/243038481181151
@jacquelynwilliams4529 3 ай бұрын
If you die, what happens to this house?
@emmettmortgage 2 ай бұрын
It goes to your estate and administered per your estate plan.
@myrtlemoore7611 Ай бұрын
They take it
@emmettmortgage Ай бұрын
@@myrtlemoore7611 No, "they" do not take it. Please stop this nonsense and misinformation. The home goes into your estate and disposed of according to your estate plan. The home is an asset like any other, which has the Reverse mortgage debt that needs to be paid. In general the estate tallies up assets, pays all liabilities and the difference is disbursed to the heirs.
@aloveaffairwithself 3 ай бұрын
So basically, there is no way to increase your FICO score faster. It still will take months to years to fix a terrible FICO credit score.
@emmettmortgage 2 ай бұрын
Fastest way is to pay down revolving debt
@coreangler1 3 ай бұрын
It scares me a bit your reading off notes
@emmettmortgage 2 ай бұрын
I was reading off a teleprompter from a script I wrote myself. I dont script word for word anymore.
@ItsMeMsAlpha 20 күн бұрын
He wrote them .. wtf😂
@emmettmortgage 20 күн бұрын
@@ItsMeMsAlphaYeah. i wrote them. Like any other creator here on KZbin. Your point?
@StracheyWade-i4v 3 ай бұрын
Garcia Scott Gonzalez Edward Taylor Deborah
@emmettmortgage 2 ай бұрын
OK
@premal06 3 ай бұрын
CN you send me the excel sheet
@emmettmortgage 2 ай бұрын
Yes email me at [email protected]
@tinasmith8241 4 ай бұрын
My husband and I no longer trust the real estate market. We are experienced buyers and sellers, but the manipulation, discimination, and corruption we have been running into against sellers and buyers over the last 6 months, has turned us away from using any agent to sell or buy. Sellers' properties are being blackballed from showings if they refuse to cover the full 3% compensation toward the buyer's broker (discrimination and manipulation), and buyers are not given any negotiation by most buyer's agents as those agents are expecting a full 3% compensation. As well, most of the buyer's agreements are sneaky and thievery, worded in a language that makes the buyer pay them 3% commission even if the house fails to close for any reason, or simply to show a property. Buyers do not need an agent to buy. They can go unrepresented and contact the listing agent themselves to view the house, and then do all the legwork themselves to put in an offer and close the deal. Super easy, and you will save a lot of $$$$$$$.
@yatravis 4 ай бұрын
I feel like using a real estate agent today isn’t as necessary as it was before the days of the internet. It’s easy to get on Zillow, find a desirable home and schedule a time to look at the house without any help from an agent. The idea that someone is going to get paid 3% of the sales price of a house is insane. My wife and I found a rental property on our own and for a few hundred bucks in lawyer fees were able to close the sale very easily.
@emmettmortgage 4 ай бұрын
The NAR Settlement is a major change to how homes are bought and sold. Knowing the rules is key. Are you looking to buy a home and still have questions? Let's talk! Thanks for watching!
@codyboyd5145 4 ай бұрын
Does this show who all is on the mortage? We are trying to figure out who all is involved.
@emmettmortgage 4 ай бұрын
Usually just the first borrower pair
@henrysand3900 4 ай бұрын
Very well explained, thank you
@emmettmortgage 4 ай бұрын
Welcome!
@huongtrinh8609 4 ай бұрын
thank you!
@emmettmortgage 4 ай бұрын
You're welcome!
@huongtrinh8609 4 ай бұрын
thank you!
@emmettmortgage 4 ай бұрын
You're welcome!
@huongtrinh8609 4 ай бұрын
thank you!
@emmettmortgage 4 ай бұрын
You're welcome!
@CodyPerryy 4 ай бұрын
what if you had a chapter 7 where you surrendered your home and had to short sell it
@emmettmortgage 4 ай бұрын
Well the short sale wait times goes off the Certificate of Title (CT) date, ie when the home went to a new owner and not the lender. So if the short sale takes a long time, that CT date starts the clock.
@carlosh448 4 ай бұрын
Can I go to a different lender for IRRRL loan or do I need to go the original lender? The lender have better rates.
@emmettmortgage 4 ай бұрын
You can go to who you want to. If you're in FL or GA, of course Id love an opportunity to see what I can provide as a fellow Vet.
@TryorDie2024 5 ай бұрын
You really need to work on how you explain things
@emmettmortgage 5 ай бұрын
What did I miss?
@dennycannon8410 5 ай бұрын
One very important thing I didn't hear mentioned is that money from RMs is non-taxable which means if you're property tax exempt due to age and lower income as I am here in Alabama, the $ from a RM won't affect your property tax exemption status.
@emmettmortgage 5 ай бұрын
Great Point
@pattiseigstauffer2037 5 ай бұрын
Can you help people with this loan in other states?
@emmettmortgage 5 ай бұрын
Currently licensed in FL and GA. Other states I can refer to other Broker colleagues.
@emmettmortgage 4 ай бұрын
I am currently licensed in FL and GA. I get inquiries from all over the US, and I refer them to trusted colleagues I know around the country. I will get licensed in more states as demand dictates.
@elyorish 5 ай бұрын
Can you still switch lenders after signing this Closing Disclosure?
@emmettmortgage 5 ай бұрын
Yes
@emmettmortgage 4 ай бұрын
After the Initial One...yes, but generally not recommended. You would essentially have to start from scratch.
@MiguelColon-i1e 6 ай бұрын
How can you apply for an FHA?
@emmettmortgage 6 ай бұрын
You can call/text me at 772-618-5058
@emmettmortgage 4 ай бұрын
You talk to a Mortgage Broker like me. We have a discovery conversation, go over goals and work out a strategy plan tailiored to you.
@steveludwig4200 6 ай бұрын
6:00 - This is the point I quit watching. If "Loan Costs (A)" is "clean" that usually means that "Lender Charges" are hidden somewhere because no mortgage broker works for free. Please explain what I am missing here because this LE does not appear transparent at all to me.
@emmettmortgage 6 ай бұрын
This LE is the example one from the CFPB, so its a bit basic. And you are 100% right about lender compensation disclosure. The Closing Disclosure or CD has that info. And depending on what kind of mortgage company you work with will determine what is disclosed. If you use a bank or Independent Mortgage Bank (IMB) like a retail lender the lender paid compensation (LPC) is not displayed. I am a Mortgage Broker, and ALL comp is displayed on Box A. Seems the "banks" wrote the rules after 2008 to prevent that disclosure. Brokers can also use Borrower Paid Comp (BPC) if the buyer wants a lower interest rate in exchange for upfront origination vs a higher a rate. And that is in box A. Mortgage Brokers are far more transparent as to what their compensation is.
@tonimeece3308 6 ай бұрын
So is there anyway to be able to buy a home if your credit score is in the 400s or are you just stuck renting until you get your credit raised.
@emmettmortgage 6 ай бұрын
Stuck renting until you get your credit up...for normal financing. You may be able to find a private investor to give you a hard money loan. But that requires other strengths to make up for the credit score; namely a good job, a lot of assets down etc.
@emmettmortgage 4 ай бұрын
Well if you're a Veteran, there are ways. VA Loans are faily lenient in that respect. For FHA, you need to be at least 500 FICO with 10% down.
@keviebabyx5433 6 ай бұрын
I am a reverse mortgage specialist, This guy just gave an excellent and thorough explanation of what a HECM is and how it can be used. ATTAWAYTOGO
@davidporterrealestate 6 ай бұрын
Who issues the CD? the bank? the title co?
@emmettmortgage 6 ай бұрын
The Lender who made the credit decision.
@emmettmortgage 4 ай бұрын
The one making the credit decision. As a Broker, that would be my wholesale lenders. I would administer it, but the name on the top of the CD is the funding source/credit decision maker.
@Semper2003 6 ай бұрын
I still don’t understand the numbers I bought a home in CA for $605k in 2021, now homes in same area are $720 plus How would second entitlement help me
@emmettmortgage 6 ай бұрын
Only if you desire to buy another VA home to live in. In your case, I am assuming you have an outstanding rate. Unless you must move, why would you?
@jessecaroe8356 6 ай бұрын
I guess they've changed the deposit requirement on the first card bc you said no required deposit but when i applied it said i had to deposit $200
@emmettmortgage 6 ай бұрын
Yeah they are known to change things pretty regularly
@Amador-u2p 6 ай бұрын
They are crazy and crooks
@starjuliann5920 6 ай бұрын
My capital one quicksilver card says no annual fees . When I seen this video I almost cried 😂 but I doubled checked my app . Maybe they changed it to no annual fee because mine doesn’t have one
@Mohit-uk6pm 7 ай бұрын
It should b in detail..
@emmettmortgage 6 ай бұрын
What should be in detail?
@JC-tm4cj 7 ай бұрын
My cash to close has an X to borrower with 4300. What does that mean?
@emmettmortgage 6 ай бұрын
Your CD does?
@emmettmortgage 4 ай бұрын
It seems to mean you are getting money back.
@MikeGaskinsPodcast 7 ай бұрын
Good video
@emmettmortgage 6 ай бұрын
Thank you!