Bakersfield Reverse Mortgage Lender
For many seniors in Bakersfield, CA, a reverse mortgage can be an excellent financial tool. However, whenever you are making any financial decision, one of the most important things to do is to properly weigh the potential risks and the benefits. There are many factors that can affect which particular investment products are available to you and which are in your best interest. This is why it is always a good idea to work with a bank or lender that is licensed in your city or state. Our Bakersfield reverse mortgage lenders can help you make intelligent decisions as you look for a loan, and because we understand Bakerfield and California lending laws, you can rest easy knowing you are getting the most accurate advice for your specific situation.
Get in touch with us today if you are looking for a Bakersfield reverse mortgage or have questions about Bakersfield reverse mortgage requirements.
A Bakersfield Reverse Mortgage Lender You Can Trust
Because your reverse mortgage lender will be helping you manage a very sensitive part of your life, it is imperative you find one who is prepared to give you all the information and facts relevant to you as a Bakersfield reverse mortgage borrower.
At Citizens Lending Group, we pride ourselves in being a trustworthy source of information for Bakersfield reverse mortgage borrowers, so we prepared this page to help you find the facts you need about these types of loans regardless of whether you choose to work with us or not.
Bakersfield Reverse Mortgage Requirements
Before reaching out to a Bakersfield reverse mortgage lender, is very important to learn all about reverse mortgages. One of the most important requirements for a reverse mortgage is that you own your home. If you still have payments that you are making to a standard mortgage lender, you will need to be able to complete those payments with your Bakersfield reverse mortgage proceeds.
Another important factor you may want to know is that a reverse mortgage requires that you live in the home as your primary residence, and the loan needs to be repaid as soon as the last borrower no longer resides in the home or if the house is sold. Some fly-by-night lenders try to put only the oldest person of the couple on the loan, in order to collect their repayment quicker. It is important to note that you are allowed to have both spouses on the reverse mortgage (as long as you both are at least 62 years old), even if both spouses were not on the original standard mortgage.
In addition to these facts, you and your loved ones may also have questions about how a reverse mortgage can affect your children or heirs and how you can receive your loan proceeds. At Citizens Lending Group, we can give you the information you need to help you make the best decisions for you and your loved ones.
Contact Us to Learn More About Bakersfield Reverse Mortgages
Our lenders have years of experience in the industry providing California reverse mortgages, and we are happy to provide you with all the information you need. Contact us today with your questions and to learn more about Bakersfield reverse mortgage requirements.