Torrance Reverse Mortgage Lender
At Citizens Lending Group, we are committed to being an educational resource for our Torrance reverse mortgage clients, as well as making certain seniors are well informed before making any financial decisions that will affect their retirement. This is why Torrance reverse mortgage clients frequently turn to us to help them make the best decisions for themselves and those they love.
If you are struggling financially during your retirement years or simply need to make a few changes in your life, a reverse mortgage can provide the relief you need. If you are interested in learning more about reverse mortgage requirements in Torrance, California, please contact us today for assistance.
Facts About Torrance Reverse Mortgages
It is not unusual for people to be skeptical about Torrance reverse mortgages before learning about the numerous advantages, options, and protections these loans can provide. For example, many believe that the only way to repay the loan is by selling their home. While it is true that if you move or sell your home, you will have to repay the loan, you have the option of doing this out of pocket. Also, sometimes loved ones want to keep the home within the family. After you pass, your family can opt to repay the loan out-of-pocket as well. Current California rules state you can never be made to pay back more than your property’s fair market value.
While some people believe that other lines of credit are more beneficial during their later years, lack of use can lead to other forms of credit being closed. Lack of use is common among potential Torrance reverse mortgage borrowers.
For many Torrance seniors, retirement and Social Security offers the day-to-day financial stability they need. Only in extreme emergencies do they need to fall back on lines of credit. Unfortunately, after going for so long without using their lines of credit, they have been closed. Reverse mortgages, which are linked to your home equity and can be dispersed over time, may be the answer. Starting the day you sign the loan, the money is available to you, but only goes down when you spend it. For retired persons, this provides a huge advantage over other types of loans.
If you are facing a financial emergency, our lenders can provide you with all the information you need to help you make the best decision regarding Torrance reverse mortgages.
Contact Our Torrance Reverse Mortgage Lenders
Over the years, we are proud to have developed a reputation for providing trust and security to California retirees, thanks to our commitment to honesty and providing education throughout the loan process. If you have any questions about Torrance reverse mortgage requirements, contact us today to speak to one of our friendly representatives about your options.
Copyright Citizens Lending Group - 3455 East La Palma Avenue #102, 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.