Reverse Mortgage Guide: Tips for Planning for Retirement and Reverse Mortgages
A reverse mortgage allows a senior homeowner to exchange part of their home’s equity into funds for retirement, whether that is supplementing income, restructuring their current mortgage payments, or more. While reverse mortgages offer great opportunity for those eligible, many folks are still unsure about what they are and how they can help. At Citizens Lending Group, we value consumer education above everything because we want our customers to know exactly what they are getting when we help them through the reverse mortgage process. We have put together these reverse mortgage guides in an effort to help our clients determine whether this option make sense for their retirement plan.
If you are browsing through our reverse mortgage guides because you are in the market for one or would simply like to know more about reverse mortgage requirements, give us a call today. As a proud California reverse mortgage company, Citizens Lending Group is here to help.
A Reverse Mortgage Guide to Answer All Your Questions
There is a lot to learn about reverse mortgages in California, and you undoubtedly have a lot of questions about them. Here we offer a reverse mortgage guide about every related subject in hopes of answering all your questions and helping you feel educated about the process.
Reverse Mortgage Guides:
- Is a Reverse Mortgage a Good Idea for Me? – This reverse mortgage guide simply covers the basics. With the goal of helping you determine whether a reverse mortgage makes sense for you, find answers to relevant questions here.
- 5 Reverse Mortgage Questions to Ask Before Taking a Reverse Mortgage – This guide is all about preparation. We want to make sure you have the right information before you get started in the reverse mortgage process.
- 5 Tips to Avoid Reverse Mortgage Problems – Like any major financial decision, reverse mortgages can cause problems for those who have not planned carefully. Find out how to avoid such problems here.
- Reverse Mortgages Pros and Cons – This guide on reverse mortgages offers a list of pros and cons. There is a lot to consider, so we will give you the information and you can weigh up the options.
- Retirement Planning & Reverse Mortgage Loans – With how important it is for retirement to be well planned for seniors, this guide will help you determine whether a reverse mortgage has a place in yours.
- Tips to Use Reverse Mortgage Loans as a Financial Planning Tool – Reverse mortgages have a lot to offer. More than just a way to supplement income, a reverse mortgage can help financial planning in several ways. This reverse mortgage guide will give you more information.
- 5 Ways to Increase Your Retirement Income – Even the best laid plans can sometimes falter and when retirees find themselves having difficulty making ends meet, a reverse mortgage can be the solution.
- Buying a House with a Reverse Mortgage Purchase – A reverse mortgage can facilitate many goals. When staying in your current home does not make sense because you want to downsize, or perhaps need something that is better suited to your age, a reverse mortgage purchase may help.
- Benefits of Downsizing with a HECM for Purchase – In this guide on reverse mortgages we expand on the role they have when purchasing a new home and reducing your cost of living.
- Save Money in Retirement without Sacrificing your Lifestyle – Retirement does not always have to imply a simplified way of life, and we Californians know how to enjoy life more than anyone else! This reverse mortgage guide will provide tips on how you can ensure your life after retirement doesn’t change financially.
- Reverse Mortgage Pitfalls – When used properly, a reverse mortgage is a wonderful option for many seniors. However, lack of planning can lead some to heartache from their reverse mortgage. This reverse mortgage guide includes how to protect yourself against such pitfalls.
- How a Reverse Mortgage Supports Aging in Place – Aging in place simply means seniors get to continue living in their homes as long as possible rather than moving into an assisted living home or community. This guide discusses how a reverse mortgage can help.
- Home Equity Calculation: How Much Equity is In My Home? – Determining the amount of equity in your home is a large part of the reverse mortgage process. Here, we offer information on how to get a dependable figure.
- Tapping Into Your Home Equity – Here we offer a useful guide on reverse mortgages and how they can work with your home equity to help you obtain retirement funds without taking massive risks.
- How to Use Reverse Mortgage Calculators – Having a true understanding of the amount of equity in your home is essential when it comes to obtaining a reverse mortgage. This guide gives you the right tools to calculate this information correctly.
- Factors that Affect Your Reverse Mortgage Payout – Reverse mortgage payouts are determined based on various criteria and it is important you are completely informed about it all before you move forward. This guide on reverse mortgage payouts will give you the information you need to make an educated decision.
- What to Expect from Reverse Mortgage Counseling – An essential step in the process, reverse mortgage counseling gives you access to a disinterested professional whose sole purpose is to provide information.
- Alternatives to Reverse Mortgage – Sometimes, a reverse mortgage is not the right solution. Here, we break down reasons why seeking alternatives to a reverse mortgage might make more sense for your financial situation.
- Retirement Planning Advice: Tips to Avoid Common 5 Retirement Planning Mistakes – No matter how attentive we are, and how precisely we plan, sometimes we simply make mistakes. Unfortunately, sometimes those mistakes can cost us financially. This guide gives reverse mortgage seekers some insight of common planning mistakes to avoid.
- Hidden Costs of Retirement & How to Plan for Them – This reverse mortgage guide sheds light on retirement costs that are not necessarily going to be at the forefront of your mind, and how to maintain them.
- Disadvantages of Reverse Mortgages: Taking a Reverse Mortgage Too Early – Reverse mortgages can be so beneficial to retired folks. However, this reverse mortgage guide breaks down the disadvantages of taking one too early.
- Reverse Mortgage Scams to Watch Out For – This guide on reverse mortgage scams helps seniors have awareness of what they should be on the lookout for to avoid being defrauded. Unfortunately, there are truly unscrupulous people out there and we want to make sure you are protected.
- Why Social Security Should Not Be Your Only Source of Retirement Income – Social Security is intended to help people plan for retirement. However, it is important to supplement your Social Security income because it is rarely enough on its own. Here we talk about the hows and whys.
- A Guide to Reverse Mortgage Tax Implications – Ever complicated, taxes will likely be affected by your reverse mortgage. Here we look at the potential implications to help you best prepare.
- Cover Senior Healthcare Costs with Reverse Mortgages – A guide on dealing with the rising costs of healthcare by way of your reverse mortgage, this page helps you understand the benefits and find ways to protect your health into retirement.
Call Us to Learn More About Reverse Mortgage Loans
If you have read our reverse mortgage guides, or even if you haven’t and just want to speak with someone, please give us a call today! We will walk you through all the California reverse mortgage requirements and happily answer any questions or concerns you may have!
Copyright Citizens Lending Group - 3455 East La Palma Avenue #103, Anaheim, CA 92806 - Reverse Mortgages in California
Loans made or arranged pursuant to Real Estate Corporation License Endorsement #01814249, California Bureau of Real Estate (877) 373-4542. NMLS #1109984
These materials are not from HUD or FHA and were not approved by HUD or a government agency.