Once a person retires, their post retirement life is dubbed their golden years. This is because there is no financial stress or responsibilities weighing them down. This is the time for them to enjoy their life to the fullest. Unfortunately, this enjoyment post retirement can be curtailed due to lack of abundant finances. In your golden years you deserve to make the most of your life, despite the fact that you have crossed the age of 62 you should not be held back by a lack of finances.

As a way out, you can use your most prized asset, your house as your financial refuge. As per reverse mortgage in La Verne, you can withdraw some of the equity from your home which has built in it over many years since the date you purchased it. A home is one of the few assets that can increase in value over the years instead of depreciating. Reverse mortgage in La Verne is based on this theory, which allows home owners to tap into the extra equity to increase your financial prowess to get through your golden years.

Keep the Money and the Ownership

A reverse mortgage lets a borrower receive funds from the equity of the home without having to make monthly mortgage payments otehr than payments for property taxes, insurance and maintenance of the home. The borrower  and his/her spouse are allowed to stay in the house until they die or as long as they decide to move out (subject to the payment of property taxes, insurance and maintenance costs).

Once the mortgage has been given, the amount is repaid only once the house is sold. The proceeds of sale will have the mortgage amount and the interest accrued deducted off it. The rest of the amount is delivered to the pensioner’s heirs.

Enjoy your life with reverse mortgage in La Verne, contact us for details 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.