American Pacific Mortgage

American Pacific Mortgage

Wednesday, April 10, 2019

5 Reasons to Use Reverse Financing

Reverse loans are becoming more "accepted" although there are still some who think they are only for those in dire straits, or are just generally a bad idea. Not so!!! Here are five reasons to use Reverse financing:

1. Pay off an existing home loan to reduce monthly debt by eliminating your monthly payment. No payment is required on a Reverse loan.

2. Place a Line of Credit on your home, for quick and easy access to cash as needed. No payment is required and you only accrue interest on the actual balance of the line of credit.

3. Buy your final retirement home using Reverse financing, vs. all-cash or regular mortgage financing. Increase your buying power, and no payment is required for the Reverse Loan.

4. Access your home's equity to pay for long-term care or prepare your home for aging in place. No payment is required.

5. Access your home's equity to provide regular monthly payments to yourself for additional income. No payment is required and the income is not taxed.

Thursday, April 4, 2019

Real Estate in California...What 's Next?

It is that time of year, again...Spring buying season. Home listings are growing in numbers, but where are the buyers? Most homes are sitting on the market longer than in the past few years, and most are selling below list price. We expect activity to pick up, since rates have adjusted down nicely. Most economists see home values flattening out somewhat, but we aren't expecting any drops in value in the near term.
Rates are also flattening out, and we've seen a couple of moments of the dreaded "inverted" yield curve which means that short term rates rise above longer-term rates. This translates to a couple of things: 1. A recession is expected sooner than later, and 2. the marketplace sees more risk in the short term vs. the long term.

What does this mean for you? If you are interested in buying, now is the time to jump while rates remain near historical lows.

We believe Reverse loans are going to continue to gain in popularity due to the aging baby-boomer population. These increase the buying power of a buyer over age 62 when coupled with cash toward the purchase price. They are also very useful for those wishing to retire existing debt on their home to reduce monthly expenditures, or to have a line of credit to use when future needs arise, all without a required monthly payment.


The first quarter has sped by with alarming speed! My grandchildren are growing like weeds, and entertaining us endlessly. They are now six, four, two, one and almost one. WOW! Steve is still commuting to Dallas, but we expect that to wind down this year. My daughter is working with me here at THE CARD TEAM, and we are having a lot of fun and keeping very busy!

We are busier than ever. Between kids, grandkids, Yacht Club events, work and exercise there isn't much downtime. We have also taken up golf, and try to get out on weekends when the weather is nice. Steve is going to crew in the Newport-Ensenada race for the first time and I will cheer from the sidelines when I am not on a wine tasting tour of the wineries near there. We have some scuba diving planned for the year both locally, in Catalina, and in Hawaii later in the year. A camping trip to El Capitan (north of Santa Barbara) is on the books for September, with all our kids and grandkids. It will be wild! When we are all together it is sort of like a tsunami, but always filled with laughter and good times.

Last year we took a couple of scuba trips, one to Cozumel and one to Cabo Pulmo outside Cabo San Lucas. The trip to Cabo Pulmo was combined with some fishing in the Sea of Cortez with a large group of friends, which was a blast. Nothing we caught was big enough to write home about, but it made some for very good eating for ceviche and sashimi. We also went up to our favorite family vacation spots in the High Sierra at Rock Creek for five days with all the family. All fun: lots of hiking, fishing, laughing and card games. In between all that we took quick trips to Catalina, Palm Springs and La Quinta. Phew!

We are looking forward to another fabulous year and wish you the same! Remember, we create experiences that matter.