C2 Steve Mitchell Blog | Monterey | Santa Cruz

February 5, 2018 | by Editorial Team at New Retirement According to AAG, the first reverse mortgage was issued in 1961 to a widow in Portland, Maine. A banker, Nelson Haynes of Deering Savings & Loan designed the loan to help the widowed wife of his beloved former high school football coach. The idea behind these loans…

A reverse mortgage is a loan that enables homeowners that are generally 62 years of age or older to use part of their homes’ equity to obtain cash proceeds that can be used in many ways. The loan does not have to be repaid until the last surviving borrower or remaining eligible non-borrowing spouse passes…

This free toolkit for real estate agents from the National Reverse Mortgage Lenders Association explains how senior homebuyers can use a reverse mortgage to finance the purchase of a new home with the Home Equity Conversion Mortgage for Purchase program. The toolkit describes the benefit of using HECM for Purchase and outlines the HECM for…

Quality operators are the key to brokering deals and achieving long-term success From: Scotsman Guide Entering fourth-quarter 2017, the senior-housing and care industry remained active. This sector is comprised of independent and assisted living, memory care, nursing care, or any combination of these care levels, including continuing-care retirement communities. The senior-housing sector, with long-term demographic…

From SMART Living 365 Last month Thom came across an article in the Wall Street Journal (WSJ) with a headline that said, “Everybody Says You Should Downsize. Everybody May Be Wrong.” We both found that statement to be so incredulous that we had to reread it. And we weren’t alone in our surprise. Most of…

Hanging in the Balance: The High Cost of Long-Term Services and Supports

From AARP I recently had the opportunity to participate on a panel sponsored by Genworth that turned out to be a truly candid and oftentimes personal discussion on an emerging crisis. The topic: “Solving America’s Long-Term Care Crisis: What We Can Do Now to Fix the $750 Billion Program.” In what way was the panel…

From New York Times WHEN Peter and Joyce Hill wanted to buy a home in a community for people 55 and older in an area they had always admired in Lancaster County, Pa., they used a reverse mortgage to finance building in that development. “A reverse mortgage gave us the option to build what we…

Reverse mortgages offer seniors an opportunity to tap the equity in their homes so they can meet their expenses without having to move.

First-time buyers accounted for 32 percent of sales in June, down slightly from 33 percent a year ago Dow Jones Newswires – Denver Post Sales of previously owned U.S. homes fell in June and prices jumped as strong demand overwhelmed a pinched supply of available homes. Existing home sales fell 1.8 percent in June from…

Press Release – FOR IMMEDIATE RELEASE CARMEL-BY-THE-SEA August 2, 2017 — C2 Financial Corp. Steve Mitchell has been selected for the 2017 Best of Carmel-by-the-Sea Award in the Mortgage Broker category by the Carmel-by-the-Sea Award Program. Each year, the Carmel-by-the-Sea Award Program identifies companies that we believe have achieved exceptional marketing success in their local…

March 2017 saw a rebound in existing home sales. Buyers flooded into the market as the spring season began, only partly deterred by the shortage of inventory. For previously owned homes, the majority of American purchases, increases under a seasonally adjusted annual rate, up 4.4% from last year. Read the full article on the Wall…