What is
a Reverse Mortgage?
Homeowners can now turn the equity in their home into monthly income.
It's like a house payment in reverse!
This Home Equity Conversion Mortgage is a loan backed by the Federal Government and allows Seniors to access the equity of their home while continuing to live in it. Rather than making a payment to your lender each month, the lender pays you.
How to
Qualify:
- You must own your own home.
- You must be a least 62 years old.
- There are no income or credit qualifications.
Benefits:
- No mortgage payments as you live in your home.
-
Guaranteed monthly income for the rest of your life, a lump sum distribution,
credit line, or combination of any of these choices.
- Does not affect social security benefits.
- All proceeds are tax free.
- You still retain the title to your home.
- You
are free to use the money for anything you choose!
For more
mortgage information please call our trusted mortgage lender,
John Yeager at 760-749-8931.
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Living Links
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California Home for Seniors is a FREE and Simple Solution in Finding a
Home for your Loved One. Contact us today at 888-365-4586 to help you
search a perfect Senior Housing Independent Living Facility in your residing
or nearby CA County.
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Area Resources:
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Retirement
Resources:
- Department
of Social Security Online
1-800-772-1213
-
U.S.
Department of Health and Human Services
1-877-696-6775
- AARP
- RetireNet
Southern California
- American Society on Aging
- Aging & Independence Referral Services for Seniors
(800) 510-2020
- County Welfare/Medical, Food Stamps, Medicaid
(760) 741-4391
- Medicare Billing Questions
(800) 675-2266
- Lifeline Community Ser, Legal Advice, Transportation
(760) 726-4900
- Legal Aid Society, Legal Assistance and Referral
(760) 724-2740
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