About Debbie Resch, NMLS #323996

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About Debbie Resch: Salinas-based loan officer Debbie Resch of Debbie Resch Reverse Mortgage has spent more than 30 years dedicated to “improving the quality of life for people by using real estate financing.”

Raised in Salinas, CA (within sniffing distance of the Nestle chocolate factory), Resch calls Monterey County “paradise.”  She understands the positive impact on people's lives and communities when families are able to own their own home.  She delights in helping others create their little slice of heaven.

“I believe that having a home is one of the most important and spiritual aspects of life,” she said. “It creates security, comfort, and belonging. Home is the base from which we interact with the world.”

Through the years Resch has helped many with financing of that first home to investment and commercial properties.  She's helped people recover from hardship, create wealth and leave a legacy for their families.  

But, perhaps most importantly, she can help provide the financial tools to enable the elderly to have a higher quality of life and remain in their beloved home as they age.  A Reverse Mortgage may help.

“I have survived many trials in my life and believe that I have a calling to help others, as others have helped me,” said Resch, whose business motto is “Helping You Build a Better Life.”

About Reverse Mortgages: A reverse mortgage is a loan in the sense that it allows an eligible homeowner to borrow money. But it doesn't work the same way as a home purchase loan. A homeowner who is 62 or older and has considerable home equity can borrow against the value of their home and receive funds as a lump sum, fixed monthly payment, or line of credit. Unlike a normal mortgage, a reverse mortgage doesn’t require the homeowner to make any principal and interest loan payments.

Instead, the entire loan balance, up to a limit, becomes due and payable when the borrower dies, moves out permanently, or sells the home.

Federal regulations require lenders to structure the transaction so that the loan amount won't exceed the home’s value. Even if it does, through a drop in the home’s market value or if the borrower lives longer than expected, the borrower or borrower’s estate won’t be held responsible for paying the lender the difference thanks to the program's mortgage insurance.

Resch understands how complicated reverse mortgage loans work and what tradeoffs are involved and can ensure that the loan won’t come with any unpleasant surprises.

She wants the more elderly homeowners of the community and their families to be informed on how to best use their home equity, which starts with interviewing qualified loan officers. Rates and fees can vary widely among lenders, and the federal government does not set reverse mortgage rates.

Resch is available for consultations, which can be arranged by calling (831) 262-6078 or by e-mailing her at debbie.resch@pmrloans.com. Her office is at 336 Main St., in Salinas.