What is a Reverse Mortgage?

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A reverse mortgage definition is as follows: A special type of loan for homeowners 62 years or older allowing them to convert a portion of the equity in their homes into cash.

Instead of paying money toward your regular mortgage, reverse mortgages pay money to you, monthly if you prefer.

These are a few important points regarding reverse mortgages:

  • The loan is repaid when the borrower dies or vacates the home
  • The loan is totally secured by the equity in your home
  • No loan payments are due from you as long as you remain in the home

As reputable mortgage brokers, we can align you with reverse mortgage lenders serving Morro Bay that typically do not charge high fees, and have the ability to support the loan.

Call us to learn more about this type of mortgage and how we can assist in finding lenders serving Morro Bay that are safe and reliable.

Benefits of Reverse Mortgages for the Morro Bay Homeowner

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We have built a strong reputation as one of the finest mortgage brokers in the area.

And part of what we do is assisting seniors who are considering reverse mortgages by reviewing how they can work for you, discussing reverse mortgage pros and cons, and aligning you with reverse mortgage lenders that have a record of high integrity.

These are some of the benefits for you to consider:

  • You can stay in your home as long as you comply with the loan terms
  • No monthly mortgage payments required by you
  • Social Security and Medicare benefits are unaffected
  • Title to the property remains in the name of the homeowners

Call us for a consultation to learn more about the benefits of a reverse mortgage. We can also assist you in finding a reputable lender serving the Morro Bay area that can help determine if this type of mortgage is right for you.

Reverse Mortgage Lenders For Morro Bay Residents

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One of the most important ways we can be of service to seniors who are considering reverse mortgages is to carefully match our clients with reverse mortgage lenders that have the highest ethics and integrity.

We know you have worked hard to build equity in your home, and you deserve to get the maximum out of it. We also know that reverse mortgages are valuable assets, and possibly lifelines for many of our clients that are over the age of 62.

This is how we can assist you in making an informed decision:

  • Match you with a reputable lender who is licensed
  • Select only those lenders that understand the complexity of these mortgages
  • Recommend lenders who have the ability to support the loan

Call Brian Lardner to assist you in locating lenders serving residents of Morro Bay that will protect your hard-earned resources. 805-434-5226