Los Angeles County is home to some of the best cities in the state of California. La Canada Flintridge is one of those cities that is packed with natural beauty and built on years and years of hard work. The people in the city who have retired from their jobs like people all over the US are always on the lookout for opportunities to better their post retirement prospects. People can do so by saving cash from their salaries and saving all the money in savings accounts. Others can buy their own house and use its equity to increase their post retirement income.

A House Full of Equity

One way of extracting equity that has built up over the years in your house is using a reverse mortgage in La Canada Flintridge.

Some of the differences of Reverse mortgage in La Canada Flintridge in comparison with other loan products are outlined below:

  • These loan products are focused on the equity that exists in the house
  • There is no need to make monthly mortgage payments as part of the loan; they only have to pay the property taxes, insurance and maintenance costs.
  • The amount and interest added on it is deduced from the proceeds of sale of the house.
  • The borrower can live in the house post mortgage for as long as they want.
  • Only when they die or move out from the house can it be sold.

Reverse mortgage in La Canada Flintridge can be withdrawn flexibly, for more information contact us today!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.