Have you heard about reverse mortgage? Few people have heard about this concept despite the fact that it has continued to exits in the Bell Flower for decades. Fortunately for the retirees of today, these mortgages may be a great option to supplement your post retirement finances.

A reverse mortgage is designed to help people who are in their post retirement age who may want to access to extra cash by using their home equity. A reverse mortgage is basically a loan that you get against the equity of your home. The difference between a reverse mortgage in Bell Flower and other loans is that the borrower need not repay the loan as long as they are alive and or are living in this house. The borrower can live in the house despite the fact that they have drawn money against it, as long as they continue to pay their property tax and insurance and maintenance of their home.

A Good Way to Enjoy Retirement

Getting a reverse mortgage means that there is no need to repay the loan in your life or as long as you are living in the house and keep current on your property taxes, insurance and upkeep of the home. When you move out or die, the proceeds of sale from the house are used to repay the loan  in addition to the interest  accrued. The mortgage can be taken out flexibly, either in full or in installments according to the borrower’s discretion.

If you want o live out the rest of your golden period with comfort and financial ease, contact us to get the best reverse mortgage in Bell Flower.

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.