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Increasingly more seniors are finding the many advantages of this comparatively new kind of loan, although a CA HECM reverse mortgage is not going to be the best choice for everyone. Understanding what each kind of loan offers (and does not) is key in selecting which one would be your best choice. Conventional called ‘forwards’, home equity loans and mortgages have existed for years. A lender provides cash to a borrower […]

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Refinance a California Reverse Mortgage The reverse mortgage is mainly a resource for our senior residents, and it has grown into a widely used financial instrument. A California reverse mortgage is a loan made to a person who has a lot of equity in their own house someone who in just about all instances has resided there a number of years and is a retired American on a fixed income. Itis […]

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Saving enough money to be comfortable in retirement can be a challenge. Starting your savings and subsequent investments early on may help, but many people reach retirement age with little to no money saved. According to Money.com, about 56 percent of people in the United States have saved less than $10,000 for retirement, and roughly 33 percent have no retirement savings at all. Other Retirement Options Ultimately, this means that among retired […]

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By now, you have undoubtedly seen one of the countless commercials for a reverse mortgage in California — usually hosted by a sitcom star of yesteryear — that promises to be the answer to all your problems. A reverse mortgage allows you to take money out of your home while still retaining ownership of it, and not have to worry about the long-term repayment of the loan. And while, in […]

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Purchasing a Home using a Reverse Mortgage in California There are currently a multitude of advertisements on television and radio — usually hosted by some television star of yesteryear — extolling the benefits of a reverse mortgage. While, certainly, a California reverse mortgage has its benefits, there is one question that remains to be answered: Can you purchase a home using a reverse mortgage? The short answer is, of course, […]

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CA Reverse Mortgage California is among the top five most expensive states in the country in 2016, which is one of the primary reasons why California reverse mortgages have become so popular. These financial tools were designed specifically to help seniors live more comfortably without fear of losing their homes in spite of financial uncertainties. FHA reverse mortgages for Seniors are also commonly referred to as Home Equity Conversion Mortgages (HECMs). While […]

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