Known as home to the famous Santa Anita Park racetrack and the LA County Botanic Garden, Arcadia is a famous city in the state of California. The neighborhood is regarded as one of the richest in the area, with the costs of homes in the area going up sky high according to reports in leading daily newspapers. It is only natural that the people who have lived their lives in Arcadia are used to a financially secure lifestyle.

Unfortunately, financial troubles can haunt people post retirement when they are no longer able to put in the extra yards and the hard work to earn enough cash to stabilize their financial situation.

Cash From your Home

If you are over 62 and you need money, there are only so many things you can do, would you want to get into a loan arrangement once again, where you have to repay monthly installments to the bank? Are you ready to risk your home for it? If you want to stabilize your finances, be able to enjoy your post retirement life style without fearing for the safety of your house, a reverse mortgage in Arcadia is the best option for you.

A reverse mortgage is when the financial institution agrees to lend you money against the equity of your home. Unlike other mortgages though, you don’t have to repay the mortgage as long as you are living in the home, however you are required to pay property taxes, insurance and adequately maintain your home. If you decide to move out of the house or die, the house’s sale will be used to pay off the mortgage amount borrowed. The only required payments are property taxes, insurance and upkeep of the home.

The amount borrowed will include the interest rates and the only thing that you’ll have to pay as part of the mortgage to make sure you stay in your home are property tax and insurance payments and upkeep of the home. The mortgaged amount allows for financial creativity, you can either withdraw all of it at once or have it delivered to you in monthly installments.

If you want to make your post retirement life financially secure, contact us today and get to know the real workings of reverse mortgage in Arcadia.

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.