Reverse Mortgage in California

A Reverse Mortgage in California offers Senior Homeowners a way to tap into their homes equity. There is no obligation to make a monthly mortgage payment. Homeowners are required to continue to make periodic tax and insurance payments, and may risk default if the payments aren’t made. Condition of the property must also be maintained.

The homeowner taking out a Reverse Mortgage California borrows against the home equity.

The Senior Equity Group helps Senior Homeowners in California to utilize tax free benefits of a Reverse Mortgage. The program is approved by The Federal Government. It allows you to stay in your home, defer your current mortgage payment, and access your homes equity – tax free! Unlike traditional “Forward” home loans or second mortgages, no repayment is required until the occurrence of a Specific Maturity Event.

Maturity Events consist of the following: The Homeowner(s) no longer occupies the property as their primary residence, Taxes and Insurance are not paid, the homeowner or last surviving spouse passes away, the property is not maintained. The Senior Equity Group has helped hundreds of Seniors in California with the Reverse Mortgage Program. Senior homeowners who qualify, can now fulfill their dreams of living a payment free lifestyle and increased monthly cash flows. Homeowners are required to continue to make monthly or periodic tax and insurance payments, and may risk default if the payments aren’t made.

We specialize in Reverse Mortgages, 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.

Qualifications for a Reverse Mortgage in California
Calculations are based on:

• Age Of The Youngest Borrower
• Current Interest Rate And Program
• Lesser Of The Homes Appraised Value Or The FHA Lending Limit

You Must:

• Be 62 years old or older.
• Own And Occupy The Property As Your Principal Residence
• Not Be Delinquent On Any Federal Debt.
• Existing Mortgage Balance(s) And Liens Must Be Paid From Proceeds
• Participate in a HUD Approved HECM Counseling Session

Property Requirements:

• Single Family Homes
• 1-4 Unit Homes With One Unit Occupied By The Senior Borrower
• HUD Approved Condominium Projects
• Manufactured Homes That Meet FHA / HUD Guidelines
• All Properties Must Meet All FHA / HUD Minimum Guidelines

Financial Requirements:

• Borrower(s) Must Satisfy All Financial Assessment Requirements
• Keep Current On Property Taxes And Homeowners Insurance
• Maintain The Property In A Satisfactory Manner
• Comply With Any Current And Future Requirements. Call For Details.