California Reverse Mortgage

California Reverse Mortgage

When making an important financial decision you must consider the advantages and the disadvantages. Laws in different states can vary, as can the legislation in different cities. This is why it is advisable to deal with a licensed lender or bank operating in your area when considering a California reverse mortgage loan. California seniors seeking a reverse mortgage should take advice from a reliable, committed, and trustworthy lender.

Call us at Citizens Lending Group today if you are searching for the best reverse mortgage deal in California. We will tell you all you need to know about California reverse mortgage requirements and answer all of your questions.

General Information from a Leading California Reverse Mortgage Lender

Money worries often haunt those approaching retirement; this is why it is wise to create a solid financial plan for the future. Potential California reverse mortgage borrowers wishing to benefit from their home equity should contact an expert reverse mortgage lender. A reputable lender will explain how a reverse mortgage works and inform you of California reverse mortgage rules. A leading lender can help you to refinance your home successfully while ensuring that you make the best choice for your future.

Though working with a professional is a necessity, we have put together some basic information on California reverse mortgages, so you can make the best decisions as you find a lender.

Requirements for a California Reverse Mortgage

There are some basic requirements for a reverse mortgage. For example, in order to qualify for a reverse mortgage loan, a California reverse mortgage borrower must own the home, live in the home as a primary residence, and be at least 62 or older. You should also, learn all the facts about a reverse mortgage before taking out a California reverse mortgage. Here are some important aspects to consider:

  • A reverse mortgage must be repaid in full when the final borrower no longer resides in the property
  • This type of home loan is always repaid in full if the property is sold
  • Couples beware. Certain lenders may try to put the loan in the oldest applicant’s name only. This helps lenders to recover their money faster, but can lead to complications if not carefully considered
  • Though the original standard mortgage may be in one name only, legally, both spouses’ names can be placed on a reverse mortgage

The best California reverse mortgage lenders will explain how this type of loan could affect your nearest and dearest. For instance, it is important to know what impact a reverse mortgage loan will have on your spouse or your children. Naturally, you want the best for your family, so feel free to contact Citizens Lending Group for further information on how California reverse mortgages work and how they can affect your heirs.

A Specialized Reverse Mortgage Lender in California

At Citizens Lending Group, we serve seniors throughout the state of California. This includes providing:

Call for More California Reverse Mortgage Information

There is plenty more to learn about reverse mortgages, so we highly recommend you contact one of our expert lenders and set an appointment to learn more. We can teach you all about California reverse mortgage requirements and help you determine the best options for your retirement.

Learn More About California Reverse Mortgages

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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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.