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Indymac Bank Closure may hurt Seniors' retirement planning options

On Friday, July 11, 2008 the Federal Government closed Indymac Bank.  It then reopened the bank under Federal oversight (FDIC) as Indymac FSB.   This closure not only effects depositors and Home loan seekers, but it also means trouble for the largest Reverse Mortgage lender, Financial Freedom.   Financial Freedom is a subsidiary of Indymac Bank, and was the number one provider of Reverse Mortgages to US seniors.  

Where should seniors look to now to find safe, secure Reverse Mortgage options?   VanDyk Mortgage offers multiple programs for Reverse Mortgages, including the FHA backed HECM Reverse Mortgage.  (Home Equity Conversion Mortgage).    

Reverse Mortgages can be used to payoff an existing mortgage, payoff consumer debts, provide cash to invest elsewhere,  and much more.   Available options include Lump Sum payment, Monthly Payments to you, a line that you can draw against, or combinations of the former.     A savvy investment strategy when buying a new home in retirement should explore the option of using a Reverse Mortgage on your new purchase.   Call us to explain how this might benefit your individual financial picture.   

With a Reverse Mortgage you no longer have any payments, period.   You also get to retain Title to your home.   The home is safe for your estate planning as the Bank does not get to own your home.   If you pass away, or no longer keep the home as your primary home, the balance of the loan is then due.  This allows heirs to payoff the Reverse Mortgage and retain the home if they wish.   Contrary to popular belief, Banks do not want to own your home.    Call us today to see if the Reverse Mortgage might be the right solution for your finances.  866-900-2342, ask for Brian Skaar or visit us online at www.vandykfunding.com.  

 

We service all of California & Washington, including San Diego, Los Angeles, Orange County, Riverside, Bay Area, San Francisco, San Jose, Seattle, Bellevue, Tacoma, Bellingham, Everett, Kirkland, Redmond, Spokane, and more.

                               

 

 

We proudly offer a full array of Government Conventional, and Jumbo loan Options including FHAVAUSDAFHA JumboVA Jumbo, VA Refinance, Conventional, JumboVA Condo loans,   FHA 2-4 Unit LoansVA 2-4 Unit Loans, FHA 203K Rehab Loans,  5% down Conventional loans Conventional Condo's OK to 95%,  95% conventional purchase with ZERO Monthly PMI, and more.  

Veterans:  We are able to help Veterans with a new home purchase with a VA Loan or VA Jumbo Loan as soon as 2 years after Bankruptcy, Foreclosure, or Short Sale (even sooner if Short Sale involved no late payments).  Call Today - get back into homeownership!  

 

--> VA Loan Limits for 2018.  Learn More - Up to $679,650 with zero money down VA Jumbo Loan 

 

--> VA Loans over the County VA Loan Limit - yes, we allow this:   Read more detail on how to get a VA Loan Over your County VA Loan Limit here  VA Loans up to $1.5M!

 

--> Answers to Common VA Loan Questions - VA FAQ Series

We serve the entire state of California  including: Anaheim,  Antioch,  Bakersfield, Brentwood, Burbank,  Carlsbad,   Chula VistaCorona,  Coronado, Downtown San Diego, EncinitasEscondido, Fallbrook,  Fremont,  FresnoHermosa Beach, Huntington BeachIrvineLong BeachLos Angeles, Marina Del Rey,   Menifee, Monterey, MurrietaOakland, Oakley,  Oceanside,  Ontario,  Pasadena ,  Poway,   Rancho Cucamonga,  Redlands,   Riverside,   Sacramento,        San BernardinoSan DiegoSan FranciscoSan JoseSan MarcosSan MateoSanta Ana,  Santa Clarita,   Santa MonicaTemecula, Torrance, Ventura, Vista, and all other CA Cities and areas.

 

We now serve the entire state of Virginia including Virginia Beach, Norfolk, Chesapeake, Richmond, Newport News, Alexandria, Hampton, Roanoke, Portsmouth, Suffolk, and all other Virginia Cities, Towns and Counties. 

 

We also serve the entire state of  Washington including:  Auburn, Bellevue, Bellingham, Bonney Lake, Bothell, Bremerton, Des Moines, Edmonds, Everett, Federal Way, Ferndale, Issaquah, Kent, Kirkland, Lacey, Lake Stevens, Lynnwood, Mercer Island,  Mill Creek, Monroe,  Montlake Terrace, Mt Vernon, Mukilteo, Olympia, Puyallup, Redmond, Renton, Seatac, Seattle, Silver Lake, Snohomish, Spokane, Sumner, Tacoma, Tumwater, Vancouver, Wenatchee, Woodinville, Yakima and all other WA cities and towns. 

 

We also serve Alabama, Colorado, Georgia, Illinois, Indiana,  Massachusetts, Michigan, Mississippi,  Indiana, Tennessee, Texas, and Wyoming Homebuyers and Homeowners.  

 

VA Loan Limits 2018     FHA Loan Limits 2018     Conforming Loan Limits 2018

All information is subject to change without notice.

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State of NY Disclosure    TX Disclosure    General Disclosure

 

Residentional Mortgage Lender registered by the VA Department of Business Oversight

Georgia Residential Mortgage Licensee #39449

VanDyk Mortgage is a private company specializing in FHA & VA financing,  VanDyk Mortgage Corp is not a government agency. Corp 2449 Camelot Ct SE, Grand Rapids, MI 49546

copyright 2018 VanDyk Mortgage Corp

 

Branch address  310 Via Vera Cruz, ste 210 & 211, San Marcos, CA  92078  760-752-4480 direct

NMLS ID:  3035 - VanDyk Mortgage Corp   NMLS ID  220268  

Brian Skaar - Loan Originator / Branch Manager   

 

NY Disclosure:  Website authorization has not been approved by teh New York State Department of Financial Services.   Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. 

 

       


 

Comment balloon 0 commentsBrian Skaar • July 12 2008 05:26PM
Indymac Bank Closure may hurt Seniors' retirement planning options
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