Reverse Mortgage in Midway City CA
Contact Citizens Lending Group today to learn more about reverse mortgage requirements and if a reverse mortgage is right for you.
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Where Can I Get FREE Information?
Contact a reverse mortgage expert to get more information on reverse mortgages and find out if one is right for you.
How do Reverse Mortgage Loans Work?
Reverse mortgages can help seniors earn tax free income for retirement. How you use the money is up to you!
What are the Requirements for a Reverse Mortgage Loan?
Reverse mortgages are available to seniors 62 years and older who own and live in their home as their primary residence.
Midway City Reverse Mortgage
It is one thing to study, listen, and try to learn as much as possible about reverse mortgage solutions, but quite another to see the process in front of you in basic terms. Here are a few examples of challenges illustrating how a reverse mortgage can be the right choice. Contact us to learn about these reverse mortgage examples as well as reverse mortgage requirements to help you decide if a reverse mortgage is right for you.
A Few Common Reverse Mortgage Solutions
Reverse Mortgage Example #1
The Challenge: John Bosworth, 72, is a widower and lives alone in his home. Like some other seniors, John is finding it difficult to keep up with all his expenses and often cannot find the funds to make regular payments. He has a pension and gets Social Security income each month, but still finds things difficult.
The Solution: John contacts a professional and completes the process for a Tax Free* Reverse Mortgage solution. He gets his money in a lump sum and uses it to pay off his current home mortgage. With the additional cash each month thanks to the elimination of his mortgage payment, he can afford his bills and living expenses.
Reverse Mortgage Example #2
The Challenge: Craig Jenkins is 82 and his wife Sylvia Jenkins is 79. Since reverse mortgage solutions are based on the youngest homeowner, Sylvia’s age is used. Since both of them take medication to maintain their health, it is sometimes difficult to come up with the money they need to enjoy the quality of life they desire.
The Solution: Craig and Sylvia obtain a Tax Free* Reverse Mortgage solution and choose the lump sum option. This reverse mortgage solution allows the homeowners to use the proceeds for medications and other important senior healthcare costs and expenses. With the help of this mortgage, they have more financial freedom and less stress.
Reverse Mortgage Example #3
The Challenge: Kathy Tobias, 63, and Rinaldi Tobias, 71, would like to travel around the United States in their RV, but they do not have the extra money in retirement. Gasoline and other travel expenses are too high.
The Solution: Kathy and Rinaldi get a Tax Free* Reverse Mortgage solution, based on Kathy’s age since she is younger. They get the extra cash flow each month to pay for gasoline and maintenance on the RV.
Reverse Mortgage Example #4
The Challenge: Gordon Penilla, 62 and Joanne Penilla, 65, have no major debts. They also have adequate income each month to live as they had planned in retirement. However, they would like to help with a grandchild’s college tuition and need additional funds for this purpose.
The Solution: Gordon and Joanne obtain a Tax Free* Reverse Mortgage line of equity. This reverse mortgage solution allows each grandparent to make a monetary gift to the grandchild. The amount each can gift is determined by current law.
Contact Us for a Customized Reverse Mortgage Solution
For customized reverse mortgage solutions and to learn about reverse mortgage requirements, contact us today! At Citizens Lending Group, we are here to help seniors achieve their financial goals by developing some of the best reverse mortgage solutions on the market.
*Be sure to check with your accountant to verify current tax laws and reverse mortgage tax implications.
Note 1: Proceeds from a reverse mortgage solution are based on age of the youngest homeowner, current interest rates, and amount of home equity.
Note 2: Rates can be locked in for 60 days, measured from the application date to the closing. Rates adjust each week on Tuesday (except federal holidays) and are valid until the next Monday.
Learn More About Reverse Mortgages in California
These are just some of the basics. If you would like to learn more about reverse mortgage requirements and if a reverse mortgage is right for you, we invite you to contact us today.
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Midway City, CA
Midway City is a city located in Orange County California. Midway City has a 2020 population of 8,343. Midway City is currently declining at a rate of 0.00% annually and its population has decreased by -1.67% since the most recent census, which recorded a population of 8,485 in 2010.
The average household income in Midway City is $63,283 with a poverty rate of 29.64%. The median rental costs in recent years comes to $1,360 per month, and the median house value is $573,400. The median age in Midway City is 38.8 years, 39.7 years for males, and 38.6 years for females.
It is one of Orange County’s oldest communities, and many of its homes are 1950s construction. It includes two mobile home parks. The residents who live here are of moderate income, with many of them senior citizens. Although the community is only 2.4 square miles (6.2 km2) in area, it has over 15,000 residents.
Recently, the Local Agency Formation Commission announced that the community might be annexed to Huntington Beach, the city that is most financially capable of encompassing the community. Prior attempts for annexation have met fierce resistance from Midway’s residents, who would rather have it remain an unincorporated area of the county, to maintain lower water and property tax rates than neighboring communities. Signature drives have been highly successful in repelling annexation attempts from not only Huntington Beach, but the city of Westminster to its Southwest.
Although unincorporated, Midway City has a variety of points of interest. The Albert E. Schwab American Legion Post had an original lifeguard’s tower from Huntington Beach as an unusual landmark in its parking lot, but not anymore. In addition, the interior of the Legion Post’s club includes several 40-foot-wide murals commemorating U.S. World War II military history events such as the Attack on Pearl Harbor, the Battle of Midway, and the dropping of the atomic bomb on Nagasaki. Stanton Park includes a $350,000 memorial dedicated to Vietnamese American and general American history. In addition, at Midway City Feed Store, a local landmark built in 1942, visitors can buy farm implements and rabbits, guinea pigs, baby chicks, ducklings, and goslings from the stores large yellow barn. Moreover, visitors can enjoy one of Orange County’s biggest St. Patrick’s Day celebrations at Brothers of Saint Patrick, which has been in Midway City since 1948.
Midway City is 47 miles from Riverside.
Midway City is 32.8 miles from Dana Point.
Midway City is 14.8 miles from Lakewood.
Nearby Cities:
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Copyright Citizens Lending Group - 1421 N Wanda Road #120-Z Orange, Ca 92867 - Reverse Mortgages in California
Loans made or arranged pursuant to Real Estate Corporation License Endorsement #01814249, California Bureau of Real Estate. NMLS #1109984
These materials are not from HUD or FHA and were not approved by HUD or a government agency.