Carlos Camargo, Reverse Mortgage Professional

Is a HECM Reverse Mortgage a good fit for your retirement? That is good question to ask and it is hard to determine up front without doing some homework and finding out details about a person's specific situation, but there is more data today from independent resources such as the Journal of Financial Planning that suggest that the Home Equity Conversion Mortgage programs might be better to take earlier in the retirement years versus using it as a product of last resort. There have been many changes to the Home Equity Conversion Mortgage programs (Home Equity Conversion Mortgages, aka HECM, are the government insured Reverse Mortgage programs and they are the most popular Reverse Mortgage today) since it was signed into law in 1988, but if you or a family member is considering a HECM Reverse Mortgage or one of the Proprietary Reverse Mortgage programs you should talk to a Reverse Mortgage Consultant who specializes in Reverse Mortgages and ask for a Custom Reverse Mortgage analysis to understand how the program works, what fees you would incur and how it will affect you and/or your family. There are multiple options with Fixed & Adjustable rates with Standard and Low Cost fees for the traditional Reverse Mortgage to Refinance an existing home that is owned by at least one homeowner that is 62 years of age or older. And for the past few years there has been a New Reverse Mortgage Purchase transaction that allows a person that is at least 62 to buy a home with all the benefits of the Reverse Mortgage. The homeowner(s) would bring in cash or equity from a prior home for their down payment and they can use the Reverse Mortgage to finance the rest o the home purchase. The Journal of Financial Planning article "Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income" was one of the research reports that documented a major paradign shift in whether a Reverse Mortgage should be used since it showed that a Reverse Mortgage could help families extend their retirement disbursements to avoid "running out of income" by using it strategically near the beginning of the retirement versus using it as a last resort. (http://www.fpanet.org/journal/ReversingtheConventionalWisdom) Carlos Camargo, NMLS #362117

Is a HECM Reverse Mortgage a good fit for your retirement? That is good question to ask and it is hard to determine up front without doing some homework and finding out details about a person's specific situation, but there is more data today from independent resources such as the Journal of Financial Planning that suggest that the Home Equity Conversion Mortgage programs might be better to take earlier in the retirement years versus using it as a product of last resort. There have been many changes to the Home Equity Conversion Mortgage programs (Home Equity Conversion Mortgages, aka HECM, are the government insured Reverse Mortgage programs and they are the most popular Reverse Mortgage today) since it was signed into law in 1988, but if you or a family member is considering a HECM Reverse Mortgage or one of the Proprietary Reverse Mortgage programs you should talk to a Reverse Mortgage Consultant who specializes in Reverse Mortgages and ask for a Custom Reverse Mortgage analysis to understand how the program works, what fees you would incur and how it will affect you and/or your family. There are multiple options with Fixed & Adjustable rates with Standard and Low Cost fees for the traditional Reverse Mortgage to Refinance an existing home that is owned by at least one homeowner that is 62 years of age or older. And for the past few years there has been a New Reverse Mortgage Purchase transaction that allows a person that is at least 62 to buy a home with all the benefits of the Reverse Mortgage. The homeowner(s) would bring in cash or equity from a prior home for their down payment and they can use the Reverse Mortgage to finance the rest o the home purchase. The Journal of Financial Planning article "Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income" was one of the research reports that documented a major paradign shift in whether a Reverse Mortgage should be used since it showed that a Reverse Mortgage could help families extend their retirement disbursements to avoid "running out of income" by using it strategically near the beginning of the retirement versus using it as a last resort. (http://www.fpanet.org/journal/ReversingtheConventionalWisdom) Carlos Camargo, NMLS #362117

10 Reviews

Client Reviews

    • 1
    • 2
    • 3
    • 4
    • 5

    Very professional..very sensitive..over informative..and no pressure whats so ever. I was hesitant with so much elder fraud out there, Carlos' and his team communicated with me throughout the whole process! Definitely recommended!

    • 1
    • 2
    • 3
    • 4
    • 5

    Our expierence with Carlos and his team was wonderful. They are knowledgeable and professional. They were with us every step of the way. We actually felt like family. We would recommend them 100%!

    • 1
    • 2
    • 3
    • 4
    • 5

    Carlos Camargo is very dedicated to the Reverse Mortgage program. He or a staff member came to my house for all preparations and closing paper work, since I do not drive anymore. Phone calls were promptly returned and questions answered. Definitely the best customer service I've ever experienced! So personable and dedicated to his clients. Carlos is definitely trustworthy and would not steer anyone in a bad direction. Very straight forward and obviously very experienced. I definitely recommend

    • 1
    • 2
    • 3
    • 4
    • 5

    My exerience at Open Mort. was very good.....They did everything possible that they could do to help me.....I now have a new reverse mortgage that is a good loan.....Carlos and Bruce are good at what they do......I highly recommend them....

    • 1
    • 2
    • 3
    • 4
    • 4
    • 5

    Very helpful and considerate. Would recommend.

    • 1
    • 2
    • 3
    • 4
    • 5

    Very professional

    • 1
    • 2
    • 3
    • 4
    • 5

    Carlos and Bruce made this experience easy. They are very helpful, explained everything in a way that made sense. It puts my mind at ease that I know I can contact them at any time if I have a question or concern. I have referred others to them.

    • 1
    • 2
    • 3
    • 4
    • 5

    My experience doing bussines with Carlos Camargo was the best. He was able to do the impossible to help me get approved for a loan. I am very happy in my new house. I will call Mr Camargo again if I ever need his services and will recommend him any time. Thank you Carlos.

    • 1
    • 2
    • 3
    • 4
    • 5

    My experience with Carlos was and is great. He was always supportive during time completing my mortgage as well as after I have the mortgage. If I have a question he is a phone call away.

    • 1
    • 2
    • 3
    • 4
    • 5

    Carlos did an excellent job in explaining each step, so we did not have any misunderstandings.