{"id":58716,"date":"2024-09-05T03:03:12","date_gmt":"2024-09-05T01:03:12","guid":{"rendered":"https:\/\/housesmarketplace.com\/guild-announces-new-flex-payment-mortgage-suite-of-reverse-products\/"},"modified":"2024-09-05T03:03:12","modified_gmt":"2024-09-05T01:03:12","slug":"guild-announces-new-flex-payment-mortgage-suite-of-reverse-products","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/guild-announces-new-flex-payment-mortgage-suite-of-reverse-products\/","title":{"rendered":"Guild \u0430\u043d\u043e\u043d\u0441\u0438\u0440\u0443\u0435\u0442 \u043d\u043e\u0432\u044b\u0439 \u043f\u0430\u043a\u0435\u0442 \u043e\u0431\u0440\u0430\u0442\u043d\u044b\u0445 \u043f\u0440\u043e\u0434\u0443\u043a\u0442\u043e\u0432 \u00ab\u0418\u043f\u043e\u0442\u0435\u043a\u0430 \u0441 \u0433\u0438\u0431\u043a\u043e\u0439 \u043e\u043f\u043b\u0430\u0442\u043e\u0439\u00bb"},"content":{"rendered":"
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Guild Mortgage<\/a><\/strong> announced on Wednesday the introduction of a new product line called the \u201cFlex Payment Mortgage<\/a>,\u201d which includes Federal Housing Administration<\/a><\/strong> (FHA)-sponsored Home Equity Conversion Mortgages (HECMs<\/a>), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.<\/p>\n

\u201cGuild\u2019s Flex Payment Mortgage is a suite of products combining federally-insured [HECMs] with options for larger loan amounts as well as the reverse mortgage for purchase,\u201d the company stated. \u201cWith a Flex Payment Mortgage, aging homeowners are empowered to draw funds from the equity they have built over the years without having to sell their home.\u201d<\/p>\n

Citing data that indicates an overwhelming desire<\/a> among older Americans to age in place in their homes, the company said that the product line will allow \u201ca homeowner 62 years or older to pay off the remaining balance on their existing mortgage, supplement living expenses, pay for lifestyle improvements or renovations, or stay closer to their family and community.\u201d<\/p>\n

Converting equity into available cash can be accomplished without impacting Social Security<\/a> or Medicare benefits, the company said. HECM loan proceeds do not qualify as income for tax purposes. The company is aiming to position this product line as an alternative option to more traditional home equity loans or home equity lines of credit (HELOCs<\/a>), which are equity-tapping products that typically have a higher penetration rate than reverse mortgage products.<\/p>\n

\u201cThese mortgages are different [from] home equity loans or lines of credit because they are based on the value of a customer\u2019s home rather than their ability to make monthly principal and interest payments, or their credit score,\u201d the announcement explained. <\/p>\n

\u201cThere is no minimum credit score required for a Guild Flex Payment Mortgage. As with most federally-insured HECMs, the loan\u2019s balance, including interest, will never surpass a borrower\u2019s home\u2019s value, providing assurance they will never owe more than their home is worth.\u201d<\/p>\n

The same obligations of a traditional HECM \u2014 namely, keeping up with property taxes, insurance maintenance and (if applicable) HOA fees \u2014 must be maintained to avoid foreclosure<\/a>.<\/p>\n

Jim Cory, managing director of Guild\u2019s reverse division, said that the company\u2019s growth in the space<\/a> necessitated additional product options for a larger base of borrowers.<\/p>\n

\u201cOur reverse mortgage business has grown greatly in the past year and a half as Guild answers this demand with options like Flex Payment Mortgages, including reverse for purchase, and retaining reverse mortgage servicing,\u201d said Cory, who transitioned to Guild when the company purchased<\/a> Colorado-based Cherry Creek Mortgage<\/a><\/strong> and folded its reverse division into its own operations<\/a>.<\/p>\n

\u201cAs part of our relationship-based, customer-for-life approach, we are committed to helping educate our partners and aging homeowners across the nation on the best ways clients can use their home equity in retirement.\u201d<\/p>\n

The Flex Payment Mortgage line contains multiple disbursement options for loan proceeds, including advanced funds for a home purchase; a lump sum; a line of credit (which Guild describes as a \u201cflexible\u201d option); regular monthly payments; or a customized combination.<\/p>\n

\u201cCustomers can continue living in their home without making payments on the loan if they comply with the Flex Payment Mortgage terms,\u201d the company explained, describing similar terms that already apply to HECM loans. <\/p>\n

\u201cAlternatively, they may choose to make voluntary payments to minimize the accumulating interest or to reduce the overall loan balance, potentially leaving more equity in the home for their heirs.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Guild Mortgage announced on Wednesday the introduction of a new product line called the \u201cFlex Payment Mortgage,\u201d which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. \u201cGuild\u2019s Flex Payment Mortgage is a suite of products combining federally-insured [HECMs] with options for larger loan […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58716","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nGuild announces new \u2018Flex Payment Mortgage\u2019 suite of reverse products - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/guild-announces-new-flex-payment-mortgage-suite-of-reverse-products\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Guild announces new \u2018Flex Payment Mortgage\u2019 suite of reverse products - 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