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Video

May 24, 2022
Airs live on YouTube
May 24, 2022

HECM & Reverse Mortgages as an Equity Buyout

Podcast: "Divorce & Homeownership"

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Divorce in senior couples is on the rise. Often one of the spouses will have an emotional attachment to the marital home and want to retain it. A reverse mortgage might be the option for you.

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Gaylord-Hansen's "Divorce & Homeownership" podcast airs live on YouTube.

Video Transcript for
HECM & Reverse Mortgages as an Equity Buyout
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Featuring:

Bill Gaylord, NMLS 680603 | Gaylord-Hansen Team at CrossCountry Mortgage

Christine Edwards, NMLS 2037883 | Gaylord-Hansen Team at CrossCountry Mortgage

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The information contained is the viewpoint of the presenter(s). Individuals should consult their own financial representative.

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CrossCountry Mortgage, LLC does not provide legal, investment, accounting, or tax advice. Please consult a licensed attorney, financial planner, CPA, or tax professional on the opinions and information provided.

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With a reverse mortgage, no monthly mortgage payments are required. Minimum age is 62. Borrowers are responsible for paying property taxes and homeowner’s insurance. Failure to pay may subject the property to a tax lien or other encumbrance or to possible foreclosure. Borrowers must occupy home as primary residence and pay for ongoing maintenance, otherwise the loan becomes due and payable. A reverse mortgage is a loan and may result in negative equity. The loan must be paid off when the last borrower or eligible non-borrowing surviving spouse dies, sells the home, permanently moves out, or does not comply with the loan’s terms. Reverse mortgages are first and second mortgage loans. This video is not from HUD or FHA and was not approved by HUD/FHA or a government agency. If you are in any doubt as to the suitability of a product or service that you are intending to purchase, or any aspect of your personal finances, we recommend that you seek independent financial advice first. Rates, terms, and availability of programs are subject to change without notice. To find a Reverse Mortgage counselor near you, search the HECM Counselor Roster (https://entp.hud.gov/idapp/html/hecm_agency_look.cfm) or call (800) 569-4287.

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We guide homebuyers in making smart financial decisions to build their future.

The Gaylord-Hansen Team is a branch of CrossCountry Mortgage, LLC. Company NMLS 3029.(www.nmlsconsumeraccess.org)
Our branch is licensed in the following states:
AZ, CA, CO, FL, ID, MT, NV, OK, OR, TX, UT, WA

San Diego, CA

Branch NMLS 1437924

9255 Towne Centre Drive, Suite 950
San Diego, CA 92121

(858) 259-8700

Las Vegas, NV

Branch NMLS 1628467

7885 W Sunset Road, Suite 140
Las Vegas, NV 89113

(702) 757-8131
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© 2023 Gaylord-Hansen Team. All Rights Reserved.

Equal Housing Opportunity. CrossCountry Mortgage, LLC. Company NMLS 3029 (www.nmlsconsumeraccess.org). Branch NMLS 1437924 / 1628467

All loans subject to underwriting approval. Certain restrictions apply. Call (858) 259-8700 for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the federal government. CrossCountry Mortgage, LLC is not affiliated with or acting on behalf of or at the direction of the Veteran Affairs Office or any government agency. Certificate of Eligibility required for VA loans. By refinancing, the existing loan total finance charges may be higher over the life of the loan. For more licensing and disclosures, see crosscountrymortgage.com/licensing-and-disclosures.
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TESTIMONIALS
Compensation was not paid in exchange for any testimonial on this site. Individuals pictured may not be that of the endorsers and are for display purposes only.
Refinance Disclosure - Refinancing may result in higher total finance charges over the life of the loan.
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RATE ASSUMPTIONS
Rates displayed are subject to change and assume that you are buying or refinancing an owner-occupied single-family home, debt-to-income ratios of 35% or lower, asset and reserve requirements are met, and your property has a loan-to-value of 80% or less. The Annual Percentage Rate (APR) is based on the loan amount and may include up to 3 points. (Points include any origination, discount and lender fees.) On adjustable-rate loans, interest rates are subject to potential increases over the life of the loan, once the initial fixed-rate period expires. Please contact one of our Mortgage Experts at (858) 259-8700 for a customized rate and payment quote.

STATE LICENSING
AZ - Main Office Licensed as a Mortgage Banker with the Arizona Department of Financial Institutions No. 0919020.
CA - Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act No. 4131098. California - DFPI Residential Mortgage Lending Act License.
CO - Mortgage Company Registration – Regulated by the Division of Real Estate - www.dora.state.co.us/real-estate.
FL - Mortgage Lender Servicer License No. MLD806.
ID - Licensed as a Mortgage Broker/Lender No. MBL-7779. Regulated Lender License RRL-10257.
MT - Mortgage Lender/Broker/Servicer License No. 3029.
NV - NV Mortgage Company License 3259. Supplemental Mortgage Servicer License No. 4352.
OK - Mortgage Broker License No. MB001744. Mortgage Lender License No. ML010107
OR - Lender License No. ML-4709. Servicer License MS-134.
UT - Licensed as a DRE Mortgage Entity No. 8071063. UT-DFI Residential First Mortgage Notification.
TX - SML Mortgage Banker Registration. SML Residential Mortgage Loan Servicer Registration 3029. Texas Rights.
WA - Licensed by the Department of Financial Institutions under the Consumer Loan Act No. CL-3029.

TEXAS RIGHTS
Consumers wishing to file a complaint against a mortgage banker or a licensed mortgage banker residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 N. Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.
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