A REVERSE MORTGAGE CAN improve the QUALITY of your Life!
What is a Reverse Mortgage?
A Reverse Mortgage is a Loan that allows seniors to use the Equity in their home to IMPROVE the quality of life and knock down the financial barriers to independent living. By converting the Equity into income, a reverse mortgage is a way to stay in your home and receive cash to use for any purpose, whether it's day-to-day living expenses, home remodeling or repair, paying off existing debt, helping Family out, Health Costs or Traveling the World!
***In some cases a Reverse Mortgage can be used to purchase a home.
Call Today (562) 400-6767 (or fill out the form below), to get answers to your questions and to receive a FREE 44 page "Reverse Mortgage" guide, published by the AARP Foundation. We are here to help educate so that there is no second guessing if a reverse mortgage is right for you!
How Do I Qualify?
Homeowner on title must be 62 or older and live in the home (primary residence). The home must be a single family residence, a 1-4 unit home with one unit occupied by the borrower, a town home, a condo or a manufactured home. Despite increased popularity, even some of the most basic facts about reverse mortgages are often misunderstood. Call Today (562) 400-6767 (or fill out the form below), to get answers to your questions and to receive a FREE complimentary 44 page "Reverse Mortgage" guide, published by the AARP Foundation. We are here to help educate so that there is no second guessing if a reverse mortgage is right for you!
Do I get to keep my home?
This is probably the BIGGEST misconception about a Reverse Mortgage. The answer is YES, YES and YES! The House is YOURS ALWAYS! A Reverse Mortgage is only a Loan Against the property just like the normal loan you had on it in order to pay it off. The only difference is you don't have to make payments on it because you are 62 or older. The interest is added to the Balance of the loan amount every month. So for example, if you decided to take out a lump sum of $100,000 and the interest for that would be 5% or $5000 a year, then that amount would be added to your balance owed. So, the next year your balance would be $105,000. When you sell your home or if you pass away, you or your heirs will get ALL of the equity in the home.
What if I have a Trust?
That is Fantastic! You did your planning. No problem. We will just need a copy of it to make sure we are on the same page. In most ALL situations, it's perfect.
Make the most of your home's equity, make the most of your retirement!
Call us now for a FREE, NO OBLIGATION CONSULTATION: (562) 400-6767
or, Send Us A Message, We're Here!