All Reverse Mortgage launches proprietary online calculator to assist seniors researching reverse mortgage options.
Garden Grove, CA (PRWEB) June 27, 2012
All Reverse Mortgage Company is pleased to announce the launch of brand-new, cutting-edge reverse mortgage calculator to anyone seeking information on how a reverse mortgage can help people ages 62-plus tap into their home equity.
Unlike other calculators available, All Reverse Mortgage Company provides free real-time estimates showing the amount borrowers can receive and accurate closing costs by utilizing live data supplied by third-party vendors.
"We use all of the essential information that the other calculators use, but we also ping third-party vendors to get accurate closing costs," says Cliff Auerswald, All Reverse Mortgage Company President. "That way we can provide the most current rates and fees. There's nothing else out there like this."
Whether a borrower is interested in using the Home Equity Conversion Mortgage (HECM) Standard or the HECM Saver, which allows for a lower-fee, credit-line option, All Reverse Mortgage Company's calculator provides you the most accurate quote in the marketplace.
The company is also announcing the release of a new loan amortization schedule calculator to show how borrowers can benefit from making payments on their reverse mortgages.
As the economy has worsened, lenders have implemented additional restrictions that have made it more difficult for seniors on a fixed income to qualify for traditional "forward" loans.
As a result, a growing number of seniors are turning to reverse mortgages as a way of receiving a loan without income or credit requirements, Auerswald says, while still maintaining equity in the home.
"We base all of our calculators on demand," Auerswald says. "We are seeing a significant number of seniors take reverse mortgages, especially on the Saver plan, as more of a temporary solution, that they can pay back in part or in full."
Whether you're looking to remain in your home or purchase a new residence, check out ALLRMC.COM to get the most accurate reverse mortgage quote today.
All Reverse Mortgage is a family owned reverse mortgage company with 100 years of combined experience in mortgage banking. We have been instrumental in educating some of the largest banks on the nuances of the reverse mortgage products, and their benefits to senior homeowners.
We maintain an A+ exemplary rating by the Better Business Bureau and are proud members of the National Reverse Mortgage Lenders Association. As a NRMLA member, we abide by a Code of Ethics & Professional Responsibility in which we pledge to serve all borrowers with integrity.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweball-reverse-mortgage/calculator/prweb9639291.htm
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