Most people prepare for their retirement by saving up money during their professional careers. They can build their own house, accumulate years of equity in doing so and save up money as cash in bank accounts to finance their post retirement life. Unfortunately, most post retirement financial planning disregards the fact that times can change and challenges can leave the money saved up inadequate to sustain your future expenses.

A potential option to avoid such a situation is to obtain a reverse mortgage in El Monte.

A Program Tailor Made for You

This is one of the reasons the concept of reverse mortgage has started to take root, because it is a program which is restricted to use by senior citizens who have crossed the age of 62.

With a reverse mortgage you can access equity in your home and it is only paid back once the borrower dies or moves from the home.  The only required payments are property taxes insurance payments and maintenance on the home.

The mortgage can be taken as either a lump sum, a line of credit or tenure payments

If you want additional information on reverse mortgage in El Monte, contact us today!

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.