Not many people are able to associate a meaning to the word reverse mortgage in Alhambra. Reverse mortgages are one way of helping people maintain a financially secure future even after they have embraced retirement.

Home Sweet Home

The concept for a reverse mortgage is a little hard to grasp, but devised to make financial management easy for seniors. Everybody plans on a retirement where they can relax in their home, live a life of comfort, not having to worry about their finances. Reverse mortgage makes that dream a reality. Using a reverse mortgage people over the age of 62 can use the equity of their home to get a mortgage amount paid either in full or monthly installments to them so that they can ease their financial woes and enjoy life as they imagined.

The reluctance with a mortgage is that it jeopardizes the well-being of your home. With reverse mortgage that is not the case. One of the reasons for its continued rise to prominence is that in a reverse mortgage you get to keep your house until you either die or move out. There is no need to worry about monthly mortgage payments, except for property taxes, insurance and maintenance of your home.  All you need to do is pay the required property tax and insurance and maintenance and you can live in your house, with adequate money to have a safe, secure and satisfied post retirement life.

What about the repayment? The repayment is simple. If and when you move out of the home or die, the amount loaned out will be deducted off the proceeds of sale of the house. This way, you get to live out the rest of the years of your retirement tension free, safe in the memory that your mortgage is taken care of.

Are you ready to turn your post retirement life upside down for the better? Then contact us today and get a great reverse mortgage deal in Alhambra!

This material is not from HUD or FHA and has not been approved by HUD or a government agency.

As with any loan there are risks associated with a reverse mortgage.  The right to remain in your home is contingent on complying with reverse mortgage loan terms and it is possible to lose your home if you do not comply with the terms of the reverse mortgage such as keeping current with property taxes, insurance and maintenance costs.