333 S Grand Avenue
Los Angeles, CA 90071
Renee DeVito helps seniors seeking a way to increase their monthly cash flow by utilizing a Reverse Mortgage to achieve financial independence and to maintain a cash flow for life. A reverse mortgage converts home equity into cash in various ways.
t:
view phone
626-222-6340
w:
http://www.r4reverse.com
e:
r4reverse@yahoo.com
Payouts may be one time, monthly payments, an equity line or a combination.
The amount you can borrow varies according to your age, the value of the home, and current interest rates and loan fees.
A reverse mortgage is exactly what its name implies — a loan whose features make it essentially the reverse of a traditional "forward" mortgage. Instead of making monthly payments, you can choose to receive them. That’s the “reverse” part of a reverse mortgage. Instead of turning your income into equity, you turn your equity into readily accessible funds.
That last feature — the ability to turn your equity into readily accessible funds — is what most distinguishes a reverse mortgage from other loans, and it's what can make it valuable to senior homeowners. Having spent years repaying the mortgage that allowed you to buy your home, you can now tap into that investment to help you achieve your goals later in life. However you plan to use your equity — whether paying medical expenses, improving your home, or just adding a bit of cushion to your monthly budget — you'll have a golden opportunity to put your nest egg to work for you.
You remain the owner for as long as you continue to live there, keep the taxes current and maintain the property. After all, you've put a lot of money into your home, and you should have control over how to take it out.
To be eligible for a reverse mortgage, all owners listed on the home's title must be at least 62 years of age and occupy the home as their principal residence for the majority of the year. The property must be a single-family or a one-to-four unit, owner occupied dwelling. Townhomes, detached homes, condominium units, planned unit developments, and some manufactured homes or new construction properties are eligible.
You do not need to repay the loan as long as you or one of the borrowers continues to live in the house. If you sell the home for more than the loan balance at that time, you or your heirs will keep the difference.
Renee DeVito has the experience and the expertise to help you spend a secure and comfortable retirement in the home you’ve grown to love.
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