There are a great number of older residents that enjoy the golden period of their life in the Gardena area in the state of California. The city is home to a number of star attractions which has made it endearing to the general public across the state and the US. Most of the people in their area are welcoming and warm.

A reverse mortgage in Gardena is a welcome option for people 62 and over to enjoy the equity accrued in their home.A reverse mortgage is granted against the equity in the home. Since it is designed for people who are in the golden years of their life, the mortgage does not have to be repaid through monthly installments though property taxes, insurance and maintenance on the home must continue to be paid.The borrower can have ownership of the possession of the house for as long as they want. Once they leave the home or die, the home is sold off and the proceeds used to pay off the mortgage and the interest rate charged.

Property tax and insurance payments and maintenance on the home need to be made even though mortgage payments don’t have to.  Mortgage money can be withdrawn in a flexible way, in multiple or single payment. If you want to learn more about reverse mortgage in Gardena  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.