eMortgage Health

Over 150,000 seniors have already benefited from reverse mortgages. A California reverse mortgage is a loan that enables senior homeowners, age 62 and older, to convert part of their home equity into tax-free income-without having to sell their home, give up title to it or make monthly mortgage payments.

Consolidate Student Loans The money can be used for anything, from daily living expenses, home improvements, healthcare expenses, paying off existing debts, or simply enhancing the retirement years. For many people, the money provides a "financial security blanket," in case unexpected expenses arise.

This is a housing option for those who want to be in an environment that offers social activities and meals but who want to maintain their independence. Seniors are generally in good health and are able to live independently. Reverse Mortgage A financial instrument that enables elderly homeowners to convert the equity in their homes to monthly income or a line of credit.

Home Equity Loans You need not pay back the reverse mortgage loan to the lender nor make any monthly mortgage payments until the home is permanently vacated.

Apply for Reverse mortgage financing instruments that will allow you to mortgage your home and receive payments in return.

Home Equity Loan Rates The money received from a California reverse mortgage loan can be used in any manner and because it is not considered income, it is tax free and will not affect Social Security or Medicare benefits. It is recommended that a CPA be consulted regarding the specific situation.

California Home Mortgage Refinance Company With today's historic low rates, you may be able to save hundreds of dollars on your monthly mortgage payment.

Homeowner Loans A California reverse mortgage loan can help parents create a new source of tax-free money without having to sell their home. In fact, they can stay in the home and tap into money they've earned in the form of home equity and avoid having to depend on relatives for financial assistance.

No, but we can give you information on our mortgages and loans products to allow you to choose for yourself. If you need advice you should speak to an Independent Financial Advisor 7. Can I get a mortgage offer before I find my property You can choose the mortgage that suits you best and get an 'agreement in principle' from a lender. However, your lender won't make a formal mortgage offer until a valuation has been carried out on the property you wish to buy or remortgage.

Equity Loan Rates Full title of the home is retained without any risk of losing the home to the lender. And no matter what happens to the housing market, seniors can never owe more than the value of their home when it is sold.

This is a new concept to consider if you are at least 65 years old and own your own home. A reverse mortgage gives you cash based on the equity in your home. The older you are and the more equity you have, the more money you can borrow. Why do they call it a Reverse Mortgage They call it that because it works just the opposite of your conventional mortgage. Your lender makes payments to you based on the equity you have in your property instead of you making payments to a lender. Hence, the term reverse mortgage.

Student Consolidation Loans When the last-remaining parent passes away while living in the home, the heirs simply pay off the reverse mortgage principal plus accrued interest. If heirs want to keep the home in the family, a new traditional mortgage can be arranged.

Second Mortgages If no one in the family is interested in keeping the home, it can be sold to repay the loan. Any money left over goes to the estate to be shared according to the seniors' last wishes.

Federal Consolidation Loan
For more information on a California reverse mortgage loan please call 866 398 4664 or go to:

Equity Loan FreeFinancialConsulting.com offers free, no obligation, advice in all areas of personal finance including insurance and home loans. In addition to California reverse mortgage information, advice on other mortgage products such as refinance and debt consolidation is available.

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