Sarah and James, a retired couple in their early 70s, are sitting at their kitchen table, reviewing their finances. Their home is fully paid off, but they need extra funds to cover medical bills and home renovations. They’ve heard about home equity loans, HELOCs, and reverse mortgages—but they’re not sure which option makes the most […]
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 Mortgage for Home Repair | Repair Set-Asides to Assist If you or a loved one is considering a reverse mortgage in California and the home requires repairs, you may be wondering how those costs will be handled. The good news is that HUD guidelines allow for repair set-asides under certain conditions, making it possible […]
