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Reverse Mortgage

Your Responsibilities as a Reverse Mortgage Loan Borrower in California

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 […]

Categories
Reverse Mortgage

How to Use a Reverse Mortgage Repair Set-Aside in California

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 […]