Galen Call Reverse Mortgage Specialist Monterey California

  • Home
  • Just The Facts Please
    • Due and Payable Timeline
    • Reverse Mortgage Facts
    • One Step at a Time
    • Adult Children
    • Trusted Advisors
    • Government Guarantee
    • History of Reverse Mortgages
  • News You Can Use
    • What You Need to Know After Closing
    • What do I do when my loan is due?
    • NRMLA Reverse Mortgage Self-Evaluation
    • NRMLA Home Toolkit
    • CFPB Reverse Mortgage Guide
  • Realtors
  • Blog
  • About Galen
  • Contact Galen
  • Call 831-645-1164

Galen Call March 31, 2021

What is a Reverse Mortgage?

What Is A Reverse MortgageIn short, a reverse mortgage is a type of home loan secured by a primary residence, where repayment is deferred to a later date – generally when the home sells. If you are 62  or older and you want money to pay off your mortgage, supplement your income, or pay for healthcare expenses, for example, you may consider a reverse mortgage. This loan allows you to convert some of the equity in your home without having to sell your home.

The reverse mortgage is not for everyone! You need enough equity built up in your home as well as qualifying with a financial assessment of income and credit to ensure that you can pay property taxes, homeowners’ insurance, and other applicable property charges.

The HECM  ( home equity conversion mortgage) is the FHA government-insured reverse mortgage which today is the most popular in the United States.  It is the only reverse mortgage insured by the federal government, and because of their involvement, lenders can offer these loans with generous financing terms. HUD regulates the program and FHA is the insurer.  It is a federally insured loan product that allows homeowners age 62 or older to access a portion of their home equity in cash, monthly payments, or a growing line of credit. In a traditional loan, funds ( payments ) move from a borrower’s bank to a lender or servicer. A reverse mortgage loan moves funds from the lender or servicer to the borrower. Thus, it moves in reverse.  Today proprietary reverse mortgage loans which are not FHA insured yet follow HUD guidelines,  are available to homeowners whose home values are higher than the maximum claim levels established for the HECM.

To learn more about reverse mortgages, contact your local certified Reverse Mortgage professional mortgage (CRMP) for guidance and expertise.

Filed Under: Reverse Mortgages Tagged With: Reverse Mortgage Requirements, Reverse Mortgages Explained, What is a 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.

GALEN CALL
Manager, Reverse Mortgage Division
American Pacific Mortgage Corporation
dba TreeHouse Mortgage Group
Call Today: 831-645-1164
Fax: 831-643-1161
Galen@TreeHouseMortgage.com
NMLS #226129 | DRE #00908338
APMC DRE #01215943 | APMC NMLS #1850

How can I help?


0 / 180

Learn More:

  • Reverse Mortgage Facts
  • Adult Children
  • One Step At a Time
  • Accessibility Statement
  • Privacy Policy
  • NMLS Consumer Access
Licensed by the Department of Corporations under the California Residential Mortgage Lending Act

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

Equal Housing Opp

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.

Our Location


288 Pearl Street
Monterey, CA 93940
Branch NMLS# 150751

Return to top of page

Copyright © 2023 Galen Call Reverse Mortgage Specialist Monterey California. All rights reserved.   Log In