
You have worked hard for many years to pay for your home - now let it pay you!
A Reverse Mortgage is a special type of loan that enables senior homeowners (62 years or older) to convert a portion of their home equity into cash. Proceeds can be in the form of a lump sum, a line-of-credit, or a monthly income. The homeowner does not make monthly payments and any borrowed funds are not repaid until the home is sold, vacated or upon the passing of the last surviving borrower. Title to the property remains in the name of the homeowner.
→ FHA/Government Insured
→ Tax-Free Cash
→ No Monthly Payment
→ Loan is Not Due Until Home is Vacated
→ Exempt from Social Security, Medicare, Medical & SSI
→ No Change in Title
→ No Income or Credit Qualifying
→ Receive Monthly Income or Credit-Line
"We had thought of getting an equity loan on our home but having to make monthly mortgage payments each month was not what we wanted to get into. When we contacted Reverse Mortgages of California, we discovered we could withdraw cash from our secondary retirement fund - our home. We figured it's our money and why shouldn't we use it and enjoy life. We did some house remodeling and still had plenty of funds left over for trips that we like to take."
- J. & R. Taylor
"The Reverse Mortgage was a very good idea. It got us out of debt, enabled us to buy a new car and replace our roof. We still had money left over for future incidentals."
- R. & C. Schere
"My automobile finally gave out on me and I was forced to take a bus to work. The Reverse Mortgage provided me with funds to purchase another car. I left my remaining funds in the credit-line which I can now use to supplement my income."
- B. Johnson