American Pacific Mortgage

American Pacific Mortgage

Friday, February 24, 2017



The fall election brought about many changes, not the least of which was an immediate increase in interest rates, resulting in a .5% to 1% bump in mortgage rates across the board. So far, we haven’t seen much effect on home prices, which seem to be holding at a steady increase, albeit at a slower pace than the last few years.

The attention to Reverse Mortgage financing is building as more and more aging baby boomers reach the age of 62. There are many uses for reverse loans, not the least of which is to access untapped equity in your home, or to purchase a new home. They are gaining in acceptance as consumers realize they do still own the home, and may will it to their heirs, but can live without making a payment against the mortgage. Oftentimes I set these up as a line of credit to be used in the future for emergencies, or basic living expenses. More financial advisers are encouraging clients to take out a reverse loan soon after turning 62, as a way to boost their next egg. The credit line available to them (and unused) grows over time and can provide substantial monthly income in later years.


Last June saw me in Dallas for some fun in the Arts District. Always great restaurants!

July 4th Steve and I ventured back to King’s Beach in North Lake Tahoe, where we were married the year before. We stayed in the same home on the waterfront, and had a wonderful visit with dear friends, each of us taking turns cooking dinner. We kayaked, swam, read listened to music and drank a lot of Rombauer Chardonnay.
And, we were treated to two nights of fireworks on the Lake, both Sunday and Monday. The level of the lake was really low, so I’m so glad to hear the level is back to pre-drought levels after all our rain this year.

Near the end of July my daughter Katie flew out from Michigan to visit for a baby shower—for her---with friends. Then we took all the family to Catalina for the day and rented two cabanas at Descanso Beach club. What a blast! All 14 of us!

August saw us attending the Pirate and Wench party at the Yacht club. They love dress-up parties.
Then at the end of the month we went camping to our favorite place, El Capitan State Beach north of Santa Barbara. Steve loves to paint while we are there…and I just relax.

There have been lots of weddings and Birthday celebrations in between and around.

The BIG news…I flew to Ann Arbor for the birth of my granddaughter in September. It was very exciting!

I stayed for two weeks to act as maid, cook and general bottle washer (for real) and was so sad to leave. The kids have been out to visit a couple of times, including an extended stay over the holidays.

We rang in the New Year at the Yacht club, and by early January were on our way to Florida to watch my one and only SISTER Katie tie the knot with her beloved Luke.
They are living between their homes in Florida and northern Michigan, and loving retired life. Their new home in Florida is gorgeous!

Here we are on the Coast at Sunset after the ceremony. We had a lovely dinner at Roy's to celebrate.

We spent the weekend in Dallas before heading to Florida and did all the “right” cultural things…a visit to the Fort Worth Kimball museum for the Monet exhibit; then to the Stock Exchange to watch them bringing the cows home, and a visit to the Perot Science museum in Dallas. That is a MUST SEE! Very impressive! All in all, we were very smart afterwards!

That’s all for now. We’ve lost more friends the past year, it just gets harder. I guess that is part of growing older. You take the bad with the good.