Reverse Home Loan in California
Reverse Home Loan in California Solutions from http://www.ameritekmortgage.com. Whether you're looking for refinancing or a mortgaging, Ameritek offers some of the most innovative and flexible programs in the industry.
Reverse Home Loan in California News and articles about California Mortgage Brokers.
Reversing Sacramento house loans - reverse mortgage programs that can optimize your cash flow, promote your peace of mind and help you make the most of these years. A reverse mortgage enables you to supplement your retirement income with extra tax-free funds. Use the money for home repairs, buying a car, unexpected expenses- whatever you choose.
| Reverse Home Loan in California Tips for Sacramento, including Elk Grove, Carmichael, Fair Oaks, and Citrus Heights California. |
You? Ve got a picture of a contended and secure retirement in your mind. Let us help you bring it to life. Stay in your home with peace of mind. There are no income, employment or credit qualifying restrictions. Your maximum loan amount is based on your age, where you live and the value of your home. The amount you owe can never exceed your property value, so your reverse mortgage can never cause you to lose your home. The funds you receive during your loan term, plus any accrued interest, become due when you sell or vacate your home. Common questions and answers q: is a reverse mortgage different than a home equity loan? A: with a home equity loan, you must make regular payments to repay the loan as soon as the loan is originated. You must also have a monthly income great enough to make those payments. Failure to make the payments can lead to foreclosure. With a reverse mortgage you do not repay the loan as long as the home remains your principal residence. Your income is not considered when qualifying for the loan. Q: can i have a lien or mortgage on the home? A: all prior loans or liens must be paid off to get the loan, but they can be paid off with the proceeds from the reverse mortgage. Q: how do i receive the money? A: you have a choice of several options including receiving equal monthly payments for as long as you own and occupy the residence, a line of credit that earns interest, or cash settlement.
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