Galen Call Reverse Mortgage Specialist Monterey California

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Galen Call August 25, 2021

A HECM isn’t for Everyone YET it can be a Fabulous Tool for Unlocking Home Equity

Robert Klein, CPA is the founder and President of Retirement Income Center in Newport Beach, CA. As a writer and publisher, he brings a holistic approach to retirement planning and presents a five-point matrix to consider with respect to evaluating a reverse mortgage. This comprehensive review illustrates the following factors:

Projected Mortgage Balance

Projected Savings

Projected Net Worth

Projected Line of Credit

Projected Liquidity

Most discussions I have with my client’s financial advisor are regarding the line of credit feature particularly unique to the HECM reverse mortgage. Unused funds grow larger over time for future use, and the growth is optimized by younger homeowners closer to 62 years old. Recent communication with a client revealed that their line of credit grew significantly over the last 13 months. Its beginning balance was over $400,000 and there was no existing mortgage balance on the house when the reverse mortgage loan was created. That line grew an additional $16,000.00 in funds in the same period. No funds had been withdrawn since their closing. This is the perfect strategy for a couple wanting to increase their retirement spending, especially if they also have funds under management.

Read Robert Klein’s article here: https://www.thestreet.com/retirement-daily/financial-adviser-center/5-steps-to-find-out-if-hecm-is-for-you

Filed Under: Reverse Mortgage HECM Tagged With: HECM, Home Equity, reverse mortgage

About Galen Call

Galen Call is a Certified Reverse Mortgage Professional (CRMP) in Monterey, California. She manages the Reverse Mortgage Division at TreeHouse Mortgage Group, a Division of American Pacific Mortgage Corporation (CALDRE #01215943 | NMLS# 1850). Galen can be reached at 831-645-1164 or by email.

Galen has been originating reverse mortgage loans since 2006 and active in the mortgage lending industry since 2003. She helps clients aged 62 and older with Home Equity Conversion Mortgages (HECM) and proprietary jumbo reverse mortgage loans. Galen brings a proactive and collaborative approach to reverse mortgage lending.

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California zip codes served: 93940, 93901, 93905, 93908, 93921, 93933, 93943, 93950, 93953, 93955, and 93962

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Copyright © 2021 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.

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Monterey, CA 93940
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