Getting a Reverse Mortgage in California

California reverse mortgage loans can help you meet your retirement needs if you own your own home. Like the name “reverse mortgage” infers, instead of making payments on a mortgage, a reverse mortgage pays you. Reverse mortgage loans can give you extra income during your retirement, and allow you to receive a monthly payment every month that does not require repayment. Reverse mortgages were created to help senior aged home owners who have accrued most of their wealth in real estate. A reverse mortgage can be used to refinance current mortgages to diminish monthly payments for those on a fixed income.

Getting qualified for a reverse mortgage is easier than qualifying for a standard mortgage.

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