Reverse Mortgages In California

Contact california hard money direct to get started on your hard money reverse mortgage refinance today.

Reverse mortgages in california. According to california law in order to qualify for a reverse mortgage homeowners must be age 62 or over occupy the property as a principal residence and own the home outright or have significant equity in the home. We offer a complete range of fha and jumbo reverse mortgage products and our staff has a combined lending experience exceeding 80 years. A reverse mortgage is also known as a home equity conversion mortgage. There are a number of benefits to reverse mortgages as all the many advertisements that inundate you proclaim.

Reverse mortgage in california. The second type of reverse mortgages are proprietary reverse mortgages which are offered by companies and often have higher loan amounts than are available through hecms. Since we started in socal in 2004 our goal has remained simple. Ca is the most populous of the 50 states boasting nearly 40 million people 10 of whom are over the age of 60.

California hard money direct can refinance reverse mortgages for heirs in all of california. California reverse mortgage rules. All reverse mortgage is proud to be california s 1 rated reverse mortgage lender celebrating 15 years of excellence. California hard money direct has a well established track record with the ability to fund a myriad of hard money loan types.

The simplest way to explain a reverse mortgage is that reverse mortgage is a home equity loan that creates cash liquidity for homeowners who are 62 years of age or older and it does not need to be repaid until the borrower moves sells the house or passes away also. The proactive approach that many california politicians have taken on reverse mortgages make california one of the lead pioneers on reverse mortgage law. Proprietary reverse mortgages are different from hecms in that there are variances in the regulations but they. Benefits of a reverse mortgage in california.

There are currently only two companies that are offering the proprietary reverse mortgage and these are finance america reverse mortgage located in tulsa ok and the american advisers group of orange ca. A home equity loan that creates cash liquidity for homeowners who are 62 years of age or older. Reverse mortgage lending is located in beautiful san diego california. We are the only ca company awarded an a rating by the bbb with perfect 5 star reviews.

A reverse mortgage offers homeowners 62 years or older a way to tap the value of their home without the burden of monthly interest payments. To offer the best terms with unbeatable customer service. Reverse mortgages are a relatively new type of loan so lawmakers are working at making the laws fair for all of those involved.