The general manager of MortgageProvider.net today announced a new video presentation on the company’s video channel which dispels the myths surrounding Reverse Mortgages. The company’s management team decided to publish the video to educate people about the best way to go about finding this type of funding.
San Diego, CA -- (SBWIRE) -- 12/10/2013 -- David Jones, the general manager of MortgageProvider.net today announced a new video presentation on the corporation’s video channel which not only dispels the myths surrounding Reverse Mortgages, but also helps borrowers identify the best way to find suitable Reverse Mortgage deals. The company’s management team decided to publish the video to help borrowers, who have sufficient equity locked in their homes, to turn that equity into cash.
With the recent tightening of lending by conventional lenders, an increasing number of home owners are turning to Reverse Mortgages to raise finance to allow them to enjoy additional funding. This form of financing is designed for home owners who are aged 62 or over and it can be a useful method for seniors to access extra cash.
A Reverse Mortgage is different from conventional mortgages in a number of ways. It is a much easier way for seniors to borrow money quickly. The main criteria for qualifying for a Reverse Mortgage is that the borrower should be a home owner with little or no mortgage on the property in which they live.
One of the biggest attractions of this type of mortgage is that there are no lengthy checks for the borrower. In fact, there are not even any credit checks undertaken by the lender. This is very different from the conventional means of borrowing where, in this current financial climate, a borrower would normally need to undergo extensive and sometimes even frustrating checks to see if they qualify for a loan.
David Jones from MortgageProvider.net states that:
“As an asset-based lender, we base decisions on the “value of the asset”. There in no time wasted gathering financials and credit history information that you would normally see with traditional methods of borrowing. Approval rates for a Reverse Mortgage are much higher than conventional loans because the approval decisions are based on the amount of equity that is locked in a property. Since decisions are not credit-driven, the decisions to lend are normally fast. This type of borrowing appeals to borrowers who are asset rich who need to borrow cash fast. But not everyone is aware of the lending facility. It is for this specific reason that we decided to publish a video at: http://www.youtube.com/watch?v=C5a4aHPKDJI”
The publication of the video helps senior property owners make sense of the complexities of Reverse Mortgages and offers advice on where senior borrowers aged 62 or over can obtain such loans. The idea for MortgageProvider.net is to educate as many borrowers as possible through the online video here: http://www.youtube.com/watch?v=C5a4aHPKDJ
MortgageProvider.net is an asset-based lending service with extensive experience in the real estate and mortgage business that helps people borrow money quickly. The company makes loan approvals and funding faster, easier and more attractive to senior home owners.
2898 Copley Drive
San Diego, CA 92111