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Carson, CA  90746
310 217-1977


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Avoid Probate  -  Senior Stay - Seniors Plight - FAQ's - Information - Reverse Mortgage - Current Info

  Why A Reverse Loan Mortgage?

Over 21 million senior home owners in America are often living in their greatest asset – their home. So why worry about monthly bills, when you can turn the equity that your home has accumulated over the years into cash. A reverse mortgage allows seniors to use their homes to pay for anything they want, including unexpected medical bills, home
improvements, credit card debt, vacations, tuition for grandchildren, or even that luxury car you’ve always wanted. Best of all, you never have to pay the money back unless you move out of your home.
  How Does The Reverse Loan Mortgage Work?
A Reverse Loan Mortgage is a federally insured home loan specifically designed for senior citizens that allows a homeowner, 62 years or older to convert equity in his or her home (single family dwelling, two to four units, townhouse or condominium) into tax free cash.
You can choose to receive your money in monthly installments, as a line of credit, or a combination of the two, or you may receive one lump sum and you never have to pay the money back unless you move out of your home. Like all homeowners you must pay your taxes and your hazard insurance.
 
  Frequently Asked Questions
Q: How much money can I get?
A: Your age and your home value will determine how much money you receive.
Q: Will I lose any of my retirement benefits, Medicare or social security?
A: None of your existing benefits will be affected by a Reverse Loan Mortgage.

Q: Does the bank go on title with me?
A: No, the bank never goes on the title.

Q: How is the Reverse Loan Mortgage different from refinancing?
A: With the Reverse Loan Mortgage you never pay the money back, when you refinance monthly payments begin immediately.

Q: Do I need good credit?
A: No, there is no credit requirement or income requirement.

Q: Do I have to own my home outright in order to obtain a Reverse Loan Mortgage?
A: No, you may obtain a loan whether your home is paid for or not..

Q: Can I refinance my existing Reverse Loan Mortgage and get more money?
A: Yes