If you are a senior citizen who is a resident of Covina, Fontana, Ontario, Pasadena, Pomona, or San Bernadino, CA, you may want to consider the value of a reverse mortgage. We founded Futura Financial over three decades ago, and we are one of the premier facilitators of reverse mortgages for seniors here in our area. When you work with our reverse mortgage brokers/lenders, you will get personalized attention, straight talk, and reliable information each and every step of the way.
There are some basic facts that you should understand if you are considering the possibility of taking out a reverse mortgage. First off, there is an age requirement. Since reverse mortgages are for seniors, you have to be at least 62 years of age to qualify for a reverse mortgage. You also have to physically occupy the property in question, and you have to either own the property outright or have significant equity. A reverse mortgage can be an option if you own a single-family home, a condominium or town home, or a manufactured home. Plus, you could qualify as the owner of a duplex, triplex, or fourplex if one of the units is your primary place of residence.
You can receive reverse mortgage payments in a number of different ways. You can accept a certain amount each and every month for a particular period of time, or you can open up a line of credit that you can utilize whenever you may choose to do so. If both of those ideas sound appealing, you can arrange for a reverse mortgage that will provide you an open credit line along with fixed monthly payouts. The choice is yours when you work with the knowledgeable reverse mortgage brokers/lenders at Futura Financial.
Since Social Security alone is only going to provide the basics, a reverse mortgage can greatly enhance your day-to-day experience as a senior citizen. Increased financial freedom is within your grasp if you are a senior homeowner.
We have provided a bit of basic information about reverse mortgages here, but you probably have some detailed questions. Futura Financial has been providing reverse mortgages for seniors in Covina, Fontana, Ontario, Pasadena, Pomona, and San Bernadino, CA for a very long time, and we strive for 100 percent customer satisfaction. If you would like to reach out to our reverse mortgage brokers, you can call us right now toll-free at 888.771.0088.