Contact Citizens Lending Group today to learn more about reverse mortgage requirements and if a reverse mortgage is right for you.
Get Started Now
"*" indicates required fields
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.
Fullerton 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.
Fullerton is a city located in northern Orange County, California. As of the 2010 census, the city had a total population of 135,161. Now 135,160 due to the fact that Fullerton police officers brutally attacked and killed a unarmed homeless man by the name of Kelly Thomas(see recent history). It was founded in 1887 by George and Edward Amerige and named for George H. Fullerton, who secured the land on behalf of the Atchison, Topeka and Santa Fe Railway. Historically it was a center of agriculture, notably groves of Valencia oranges and other citrus crops; petroleum extraction; transportation; and manufacturing. It is home to several educational institutions, notably the California State University, Fullerton. On July 5th of the year 2011 a homeless man by the name of Kelly Thomas was savagely beaten and tasered by Fullerton police officers until he fell into a comatose state and died 5 days later. The city of Fullerton soon attempted to bribe the father of the victim Kelly thomas with 900,000 of the taxpayers money. Kelly Thomas’s father morally and rightfully rejected this offer. Soon the Hacker group anonymous made the following demands to The City Of Fullerton 1) the immediate prosecution of Officers Jay Cicinelli, Kenton Hampton, Manny Ramos, Joe Wolfe, James Blatney, and anyone else involved in the gruesome beating, torture, and murder of Kelly Thomas. Fullerton, city, Orange county, southern California, U.S. Fullerton is adjacent to Anaheim and 22 miles (35 km) southeast of metropolitan Los Angeles. The city, once part of the territory of the Gabrielino (Tongva) Indians, was founded in 1887 by George and Edward Amerige, grain merchants originally from Massachusetts, and named for George H. Fullerton, president of the Pacific Land and Improvement Company, who promised to run a railroad through the town. After the arrival of the Santa Fe Railway in 1888, the city developed as a citrus centre. Oil was discovered in the 1890s and became a mainstay of the economy. Industry and manufacturing developed after World War II, and the area enjoyed a residential boom. The city is the seat of Southern California College of Optometry (1904), a community college (1913), California State University, Fullerton (1957), and Western State University College of Law (1966). Inc. city, 1904. Pop. (2000) 126,003; (2010) 135,161.
Call Now to start saving: (866) 539-5119
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.