| We specialize in Ventura County Reverse Mortgages for seniors. We provide Reverse Mortgages for seniors throughout Ventura County. A Reverse Mortgage enables Ventura County senior homeowners to sustain their retirement while living in the home and community they love.
A Reverse Mortgage is a financial tool designed by the federal government as a form of financial relief for homeowners 62 and older. It allows Ventura County seniors to stay in their home, eliminate their current mortgage payment, and access their equity – tax-free! Unlike traditional “forward” home loans or second mortgages, no repayment is required until the homeowner(s) no longer occupies the property as their primary residence.
The Senior Equity Group has helped hundreds of Seniors realize their dreams of living a payment free lifestyle and providing significant increases in monthly cash flows to support enhanced “worry free” lifestyles. We specialize in Reverse Mortgages, for Ventura County so our goal is to make the process as simple as possible for you. A complete no hassle experience from start to finish. We work with only the best and largest banks in the industry. Our FHA/HUD approved programs and interest rates are the best available.
Contact us for Reverse Mortgage information and our no obligation Reverse Mortgage informational package. We have helped hundreds of satisfied Seniors in Ventura County find the right Reverse Mortgage.
Ventura County is a county in the southern part of the U.S. state of California (Southern California). It is located on California’s Pacific coast. It is often referred to as the Gold Coast, and has a reputation of being one of the safest populated places and one of the most affluent places in the country. It is ranked as one of the 100 highest-income counties in the country and as the sixth wealthiest county in California by per capita income.
As of December 2008, the median home price is $355,000. This is partly because it is part of the Tech Coast Area, and has a large presence in technology corporations like telecommunications, healthcare, development, and especially biotech corporations, most of which are located in the Conejo Valley.
As of the 2000 census, the county had a population of 753,197. A more current California Department of Finance estimate places the population at 813,052. The county seat is the city of Ventura (formally known as San Buenaventura). Ventura County’s largest city is Oxnard, with a population of about 200,000.
Ventura County can be separated into two major parts, East County and West County. East County consists of all cities east of the Conejo Grade, known locally as “The Grade.” East County, geographically, is the end of the Santa Monica Mountains, in which the Conejo Valley is located, and where there is a considerable decrease in elevation. Communities which are considered to be in the East County are Thousand Oaks, Newbury Park, Lake Sherwood, Hidden Valley, Santa Rosa Valley, Oak Park, Moorpark, and Simi Valley. A majority of these communities are in the Conejo Valley, one of the most affluent areas in the United States. West County, which is everything west of the Conejo Grade, consists of communities such as Camarillo, Oxnard, Somis, Point Mugu, Port Hueneme, Ventura, Ojai, Santa Paula, and Fillmore. West County consists of some of the first developed cities in Ventura County. Ventura County’s largest beach communities are located in West County on the coastline of the Channel Islands Harbor.
What’s a Reverse Mortgage?
A loan against your home that requires no repayment for as long as you live there.
How’s it different?
* To qualify for most loans, the lender checks your income to see how much you can afford to pay back each month. But with a Reverse Mortgage, you don’t have to make monthly payments. So your income generally has nothing to do with getting the loan or the amount of the loan.
* With most home loans, if you fail to make your monthly payments, you could lose your home. But with a Reverse Mortgage, you don’t have any monthly payments to make. So you can’t lose your home by failing to make them.
Who can get one?
* You must own your home, and generally all of the owners must be at least 62 years old.
* Your home must be your “principal residence” – which means you must live in it more than half the year.
* For the federally-insured “Home Equity Conversion Mortgage” (HECM), your home must be a single-family property, a 2-4 unit building, or a federally-approved condominium or planned unit development (PUD).
* Reverse Mortgage programs generally do not lend on cooperative apartments or mobile homes, although some “manufactured” homes may qualify if they are built on a permanent foundation, classified and taxed as real estate, and meet other requirements.
* If you have any debt against your home, It will be paid off thru escrow from the reverse mortgage proceeds.