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reverse mortgage

If you are 62 years old or over, a reverse mortgage is one of the best financing options for you. There are lots of myths revolving this fantastic program - and we hope to address them here for you. When you're ready to get started, feel free to submit an application through the link below.

David has been great in through all of this never ending escrow process. When one lender did not work, he found another with a closing in a little over [30] days. Zero complaints and one very happy woman as I have accomplished the goal in which was started six months ago. Would I recommend David? You bet in a New York minute. He is one of the best not only in the brokerage business but as a person who has a heart and does listen to his clients.

- Fran H.
Here are some FAQs we received from current and previous clients about reverse mortgages. In addition, we cover related topics in more depth too! Check out the links below:
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learn more about being reverse mortgages

in the event of my passing, will the bank take my house?

Guidelines - as well as the mortgage insurance - would restrict the note holder (bank) from simply taking your home upon passing. The fact is, once the borrower passes, the home is the property of the heir(s). The heirs can choose to refinance the home, pay off the reverse mortgage, or sell the home and pay off the reverse mortgage.

In the unlikely event that the loan balance is greater than the value of the home, many heirs choice to simply release the property back to the bank (deed-in-lieu of foreclosure). However, it's important to point out that at no time will the heirs be paying the reverse mortgage off with any additional funds other than what the home is sold for.

Also, the heirs will not be charged with a deficiency balance if the bank sells the home for less than what it is owed. Again, this is a non-recourse loan, the bank can’t and will not be coming for the negative balance if one exists.

more questions soon!

reverse mortgage - in a nutshell (3 minutes)

We always try to find ways to help you. In week 4 of our home-buying webinar series, David breaks down the different ways to finance your home purchase. FHA, VA, USDA, reverse mortgages... you name it, we done it.

It has so much information (timestamps are available in the description)! This link, however, jumps you straight to the section about reverse mortgage. It's only about 3 minutes long. If you still have questions, please feel free to contact us through the link below.

download our free financing guide

You’ve made a decision - you want to buy your next home. Congratulations! But, what now? Most buyers need some level of financing to purchase property. In fact, 87% of all buyers in 2020 financed their home purchase. Whether you're a first-time home buyer, or on your 3rd home, we created this free financing packet for you. You'll find valuable information in this PDF, including financing basics, refinancing options, and a list of documents you need to get started. Click the button below to get your download started!

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Redlands, CA 92373
(909) 376-8399

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