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Showing posts with the label refinance loan

Is a Reverse Mortgage Right For You?

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Like most people, I'm exploring different strategies that will allow me a comfortable retirement. As we all know, retirement requires money!  One of the options at my disposal is a Home Equity Conversion Mortgage (HECM) or commonly know as a reverse mortgage. It is a home loan only for homeowners who are 62 and older. With a reverse mortgage loan, monthly mortgage payments are eliminated. Interest and fees are added to the loan balance each month and the balance grows. The loan is repaid when the borrower passes away or no longer lives in the home.  Reverse mortgage borrowers must pay property taxes, homeowners insurance, keep the property in good condition, and use it as their primary residence. As a notary signing agent, I've sat at the signing table with many a borrower guiding them through their reverse loan documents. These borrowers who utilize this type of loan product were able achieve their financial freedom while not having to move out of their house. In one instan...

Let's Talk About Notary Signing Agents

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  All notary signing agents (aka NSA, loan signing agents, or signing agents) are notaries, but not all notaries are signing agents. So, what's the difference and why should you care? A notary signing agent has additional training and certification to handle real estate documents: purchase, sales, refinance, HELOC etc. They also carry higher E&O insurance policies. In essence, NSAs perform two functions: The certified NSA guides the signer through the real estate document package making sure all the required forms are correctly signed and dated, boxes are checked, and is tasked to make sure the signing process goes as smoothly as possible. After docs are signed and double checked for errors, the NSA gets the documents back to escrow as quickly as possible. The NSA also is performing her notarial duties by verifying that the signer is indeed who they present themselves to be, and to notarize and document in her journal all the required documents within a real estate package....