A reverse mortgage loan, specifically a Home Equity Conversion Mortgage (HECM), allows California homeowners to access their home equity while remaining in their homes. However, as a borrower, you must meet certain requirements to avoid foreclosure and maintain your loan in good standing. Your Three Main Responsibilities: Pay Property Charges on Time – Ensure that […]
Many Californians aged 62 or older choose a reverse mortgage as a way to supplement their retirement income. A reverse mortgage allows homeowners to convert their home equity into cash, with the lender making payments to the borrower. The loan is typically repaid when the borrower moves out of the home or passes away, usually […]
Reverse mortgages have often been misunderstood due to myths and misconceptions, but today’s reverse mortgage programs are significantly different from those in the past. As more homeowners discover the advantages of accessing home equity, reverse mortgage loans continue to gain traction among senior homeowners in California. By now, you may already be familiar with some […]
