Reverse Mortgages Will Help 62 and Older Stay in Home Create Cash Flow


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Posted by Anne James on March 21st, 2022 12:50 PM


The above chart is what we use to determine the amount of money refunded at the time of a FHA to conventional refinance. FHA charges an upfront MIP (mortgage insurance premium) amount of 1.75%, a sizeable refund when you do it after 6-18 months from original purchase. Southern Californians are among the few states' area to appreciate enough to get rid of both the monthly MI (often higher than your taxes!) and get a nice refund!
As an example, let’s say you purchased your home 15 months ago and paid an upfront mortgage insurance premium of $1,750. If you sell your home or refinance in month 15, you may be eligible to receive 52% of that amount back, or $910. So how do you request this refund? Read more
And don't forget to call Anne James at 562 619-2058 to see if you're eligible to refi and the same or lower rate, drop the monthly MI and recieve a nice refund!

Posted by Anne James on January 2nd, 2015 7:40 AM
Getting rid of FHA Mortgage Insurance is the gift that 'Keeps on Giving' expecially during the holidays: You will:
*Thank us for lowering your payment by hundreds of dollars
* Recieve up to 80% of the 1.75% Funding Fee (the sooner, the better & more)
* Skip a payment as well as recieve old tax/insurance impounds back
* Don't Pay the high MI for another month-CALL!
**Call or email to see a comparison of how much you can save monthly.

Posted by Anne James on December 9th, 2014 2:51 PM

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Reliance Mortgage Service, Inc

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