Reverse Mortgage in Cypress CA

Cypress 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.

Reverse Mortgage Cypress CA

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.

 

Cypress, CA

Cypress is a suburban city located in the northern region of Orange County within Southern California. Its population was 47,802 at the 2010 census. The first people living in the area now known as Cypress were the Gabrieleno, a Native American tribe of the Tongva people, who were displaced soon after the arrival of the Europeans. The government of Spain then possessed the land until Mexico gained its independence in 1821. Mexico then lost AlCypress is a suburban city located in the northern region of Orange County within Southern California. Its population was 47,802 at the 2010 census. The first people living in the area now known as Cypress were the Gabrieleno, a Native American tribe of the Tongva people, who were displaced soon after the arrival of the Europeans. The government of Spain then possessed the land until Mexico gained its independence in 1821. Mexico then lost Alta California to the United States during the period following the Bear Flag Revolt and the Mexican-American War. The original Spanish dons held immense tracts of land throughout California, which were given in lieu of pay to Spanish soldiers. Manuel Nieto was one of the early Spanish dons or landowners in the area. After his death in 1804, his sons retained title to Rancho Los Nietos, but these lands were eventually broken up and distributed among them in 1833 by a grant from the Mexican governor, José Figueroa. Manuel’s son, Juan José Nieto, retained the title to a large portion of his father’s original properties in southern California that included the present-day area of Cypress. That land and other Rancho properties were finally sold to the American Abel Stearns, then acquired by the Robinson Trust, a group of investors, which eventually parlayed their holdings into a vast land speculation business. The original Spanish dons held immense tracts of land throughout California, which were given in lieu of pay to Spanish soldiers. Manuel Nieto was one of the early Spanish dons or landowners in the area. After his death in 1804, his sons retained title to Rancho Los Nietos, but these lands were eventually broken up and distributed among them in 1833 by a grant from the Mexican governor, José Figueroa. Manuel’s son, Juan José Nieto, retained the title to a large portion of his father’s original properties in southern California that included the present-day area of Cypress. That land and other Rancho properties were finally sold to the American Abel Stearns, then acquired by the Robinson Trust, a group of investors, which eventually parlayed their holdings into a vast land speculation business.

Nearby Cities:

Reverse Mortgage La Palma, Reverse Mortgage Cypress

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 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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These materials are not from HUD or FHA and were not approved by HUD or a government agency.