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Loan Products |
>> Reverse Mortgages |
A Reverse Mortgage is a special type of home equity loan that allows seniors to convert some of the equity in their homes into cash while still retaining home ownership.
 Reverse mortgages work much like traditional mortgages with one important exception: instead of you making a mortgage payment each month, the lender pays you.
Unlike conventional home equity loans, most reverse mortgages do not require any repayment of principal, interest, or servicing fees for as long as you live in your home. Funds obtained from these loans may be used for any purpose, including meeting housing expenses such as taxes, insurance, fuel, and maintenance costs.
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How Do I get started?
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Call us at 1-510-895-5969 to schedule an interview. We will ask you some basic questions to determine which programs are available to you.
If you wish to proceed after this short interview, we will arrange a free session with a HUD (U.S. Housing and Urban Development) approved counselor. Counseling will include benefits available, program details, resource material and whether a reverse mortgage is right for you.
The counselor is a third party acting on your behalf, not ours. You are encouraged to have family, legal or other representation attend the counseling session with you.
After the counseling session, if you wish to apply for a reverse mortgage, call us for an appointment to start the application. It will take from six to eight weeks to complete the entire process.
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