Andrew Scammon, Home Equity Retirement Officer

03/18/2024

BuyB4USell allows buyers to make offers with fewer contingencies and opens up choices and allows sellers to move on their schedule.

Call, text, or slide into my DMs to learn more.

02/24/2023

Celebrating all things retirement.

01/19/2023

Excerpt from an article in Housing Wire.

HW: How are HECMs especially beneficial for homeowners age 62+?

For homeowners ages 62 and older, HECMs offer a variety of benefits over HELOCs. In terms of loan eligibility, a HELOC requires borrowers to qualify based on credit score and income. For those homeowners who are retired or adjusting to a limited or fixed income, this is not ideal. With a HECM, credit score and income are not the sole determining factors. Instead, the borrower must simply be a homeowner at least age 62, use the home as their primary residence and have sufficient equity available in the home.

Another advantage of HECMs over HELOCs is that they’re FHA-insured and offer unique borrower safeguards. Along with the non-recourse protection mentioned earlier, HECMs also require borrowers to attend independent HUD-approved counseling as part of the process. This counseling session provides potential borrowers with the education and resources to decide whether the HECM is the right option, explore alternative financial solutions and provide support throughout the entire application process.

Senior homeowners also appreciate the HECM because there are not any annual fees to keep the loan open. This is not the case with a HELOC.

12/19/2022

04/29/2022

Three of the seven bridges entering Jacksonville, visible from The River Club of Jacksonville. Thank you Northeast Florida Estate Planning Counsel.

11/24/2021

Finally back from the illustrator, legal, compliance, post production, etc. I hope it was all worth it. Please let me know if this keeps your attention for the full three minutes.

09/03/2021

“It was the third of September, that day I’ll always remember… Papa was a rolling stone… Wherever he laid his hat was his home. And when he died, all he left us was a loan."

If your Poppa needs a loan, we should talk. Licensed in 8 states and growing.