Leading Reverse Mortgage Lender Enters North Carolina Market

GARDEN GROVE, Calif., June 11, 2013 /PRNewswire/ -- All Reverse Mortgage Company Approved to Provide Reverse Mortgages in North Carolina. ARM has become one of America's fastest growing reverse mortgage lenders currently licensed in 15 states with plans to add 12 states to its reach over the next year.

Americans 62 years and older living in North Carolina have a new option when considering reverse mortgages, through the expansion of All Reverse Mortgage®

Considering that Money Magazine named Durham, NC, the best place to retire in the United States, the decision to enter North Carolina was an easy one for management.

"North Carolina has a great mix of business, resort, college and residential areas and many seniors look to the area to retire because of the beautiful climate and countryside," said Michael Branson, CEO of All Reverse Mortgage Company. "This makes the state a perfect fit for active seniors looking for a product such as the reverse mortgage to augment their retirement."

The company offers a range of reverse mortgage products insured by the Federal Housing Administration and points to the benefits North Carolina seniors receive in working with a family-owned business.

"All Reverse Mortgage is dedicated to giving our clients the best service, terms and value," Branson said. "We do not run expensive television campaigns with highly paid spokesmen. We're about educating the client and guiding them through the process smoothly."

By working with All Reverse Mortgage, seniors can obtain FHA's Home Equity Conversion Mortgage (HECM) to help them access their home equity during retirement.

The company prides itself on being dedicated to offering reverse mortgages only, which is something you won't find with other lenders.

"This is not a side project for us and we don't have staff members who were bank tellers or sub-prime originators just a few months ago," added Branson. "Our professionals all have many years of reverse mortgage experience and many were involved in writing reverse mortgage programs and selling the loans directly to Wall Street or other private investors in the past. We bring a wealth of knowledge and experience to help our clients."

The Department of Housing and Urban Development, the agency that manages the federal reverse mortgage program, recently announced the suspension of the fixed rate HECM Standard product.

Even without the HECM Standard, All Reverse Mortgage Company still offers a fixed rate option for borrowers. The HECM Saver fixed gives borrowers the peace of mind of a fixed rate loan and has lower fees than a traditional reverse mortgage.

"The HECM Saver provides borrowers with an attractive rate and is great financial planning tool," said Branson.

Older Americans can also use a reverse mortgage to purchase a new home, something most don't realize is possible. Using the HECM for purchase, borrowers can purchase a new home and take out a reverse mortgage in one transaction.

"Many Americans who lack the income to qualify for a traditional home loan have a safe and secure way to purchase a home using the HECM for Purchase," said Branson.

Many people are looking to move and retire in North Carolina, but don't have a way to finance the purchase of their dream home. A reverse mortgage allows them to do so.

All Reverse Mortgage has become one of America's fastest growing reverse mortgage lenders (rminsight.net June 2013 report) currently licensed in 15 states with plans to add 12 states to its reach over the next year. 

Learn more about the Federally Insured HECM program at ALLRMC.COM   

Contact:
Cliff Auerswald
1-800-565-1722
[email protected]

SOURCE All Reverse Mortgage