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.
Dana Point 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.
Dana Point, CA
Dana Point is a city in Orange County, Southern California. Dana Point Harbor, with its marinas and eclectic boutiques, is a jumping off point for dolphin and whale-watching cruises. Surf waves roll onto nearby Doheny State Beach and Salt Creek Beach, which is backed by a grassy park. Trails wind through Dana Point Headlands Conservation Area, which has sweeping ocean views and an interpretive center.
The city was named after the headland of Dana Point, which was in turn named for Richard Henry Dana, Jr., author of Two Years Before the Mast, which included a description of the area. Dana described the locale, including neighboring San Juan Capistrano, as “”the only romantic spot on the coast””. Although Dana described the anchorage as poor, it is now a developed harbor and contains a replica of his ship, the Pilgrim. The Pilgrim is used as a classroom by the Ocean Institute, which is located at the harbor. This area is designated California Historical Landmark #189.
One of the very few known specimens of the megamouth shark was caught off Dana Point in 1990.
Dana Point is known as a special place for its picturesque beauty and strong sense of community. Dana Point residents enhance the city through involvement in community groups and civic pride.
There are always activity choices for Dana Point residents, from City Events, recreation classes for all ages, the many Parks, and regular Senior Activities.
Dana Point is 23.8 miles from Irvine.
Dana Point is 5.4 miles from Laguna Niguel.
Dana Point is 6.7 miles from San Clemente.
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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.