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C2 Certified Reverse Mortgage Specialist

NMLS #242792 | DRE #0118730

C2 Financial Albany, CA Branch NMLS#: 1899037 | DRE #01821025

510.410.7572

About Lanny Clark

For most people, a home is usually considered their most valuable asset. With that in mind, it makes sense to shop around for a mortgage in order to get the most cost-effective rate possible. That’s why many borrowers turn to a mortgage brokerage for help, because...

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Reverse Mortgages & Inflation

Inflation has increased the price of just about everything, including buying a new home. For senior homeowners living in a home that no longer fits their needs, this is a serious problem. They have the option of selling their home and receiving an inflated return, but...

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The Effects of Inflation on Retirement

You’ve probably seen the headlines about inflation and how it is increasing the price we pay for everyday items like gasoline, food, and healthcare. But have you considered the impact inflation is having on your retirement savings? Social Security uses inflation as a...

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Baby Boomers and Managing Home Equity

More than 10,000 Baby Boomers are retiring every day. The problem is, unlike prior generations, most don’t have a defined benefit plan like a pension, so they depend on Social Security combined with an IRA or 401K. What they don’t realize is they have a third option...

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Why Should I Consider a Reverse Mortgage?

You’ve worked hard and you think you’ve built up enough equity to enjoy a comfortable retirement. You’re a homeowner and you have Social Security payments to draw on, as well as an IRA or a 401K, so you’re feeling pretty comfortable about your finances. But what if...

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What are Proprietary or “Jumbo” Reverse Mortgages?

A proprietary reverse mortgage, often called a “Jumbo Reverse”, is a non-FHA reverse mortgage originated by a private lender, that often has more flexible guidelines and different features than an FHA insured reverse mortgage. Here are a few ways “Jumbo Reverse...

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What are the Reverse Mortgage Safeguards?

Since Congress created the FHA Reverse Mortgage in 1989, many Reverse Mortgage safeguards have been put in place to protect Senior Homeowners. Counseling by an independent 3rd party is required and typically takes about an hour and is done over the phone. A “senior...

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What are Some of the Unique Features of a Reverse Mortgage?

What are some of the unique features of a reverse mortgage? A reverse mortgage is a “non-recourse loan”, meaning that the borrowers have no personal liability for the loan, so responsibility for repayment is transferred from the borrower to the home. Since the home...

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When does a Reverse Mortgage Become Due for Payoff?

Under what circumstances would a reverse mortgage become due for payoff? One is when the last borrower moves out for more than a year, passes away or the home is no longer their primary residence. Another scenario would be if the property taxes or homeowner’s...

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What are the Eligibility Requirements for a Reverse Mortgage?

What are the eligibility requirements for a reverse mortgage? For an FHA Reverse Mortgage, the youngest borrower must be at least 62 or at least 55 for a “Jumbo” non-FHA reverse mortgage. They must have 50-60% in home equity - or more - and it must be their primary...

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