| If you are over the age of 62 and live in the | | | | through your retirement years. |
| state of California then you know how expensive | | | | -You have no intention of leaving your home to |
| life can be. But I have some great news for you. | | | | heirs. |
| If you own your home there is a way to get the | | | | -You own your home debt free or your first |
| cash you need. Consider getting a California | | | | mortgage is small. |
| reverse mortgage to get cash back from the | | | | -You want to enjoy your retirement by enhancing |
| equity of your home. This can be a lifesaver if | | | | your lifestyle. |
| you have nagging medical bills or other expenses. | | | | -You desire to have peace of mind from nagging |
| Read on to discover more information about a | | | | debts and bills. |
| California reverse mortgage and how it can | | | | -You want a cushion to fall back on for |
| benefit you. | | | | unexpected expenses such as medical bills or |
| What exactly is a reverse mortgage? It is a way | | | | home repairs. |
| for someone 62 years of age or older to borrow | | | | -You just need additional money to live on each |
| against the equity of their home to get tax-free | | | | month. |
| cash. There are no loan payments until you die, | | | | If you can identify with the items on the above |
| sell your home or move from your home. A | | | | list, then maybe a California reverse mortgage is |
| reverse mortgage is a way of getting money | | | | right for you. But don't make the decision until |
| from your home without having to make monthly | | | | you have researched reverse mortgages |
| payments. | | | | carefully. |
| You can receive your cash all in one lump sum or | | | | It's true that you will not have to make any |
| you can choose regular monthly payments for life | | | | payments on the reverse mortgage loan while |
| or for as long as you live in your home. You can | | | | you are still living in your home, but carefully |
| also opt for a monthly payment for a fixed length | | | | consider the debt you may be leaving behind. If |
| of time or a line of credit to use when you need | | | | you don't want to burden your children with debt, |
| it. A California reverse mortgage gives you the | | | | then you need to consider a California reverse |
| choice of what is the best option for you. | | | | mortgage very carefully. Involve your children in |
| But how do you know if a California reverse | | | | the decision making process to gain their input. |
| mortgage is right for you? Consider the following | | | | If you have no heirs and the house will go to the |
| list to help you make your decision. | | | | state when you die, then a reverse mortgage |
| -You are over 62 years old. | | | | may be right for you. Upon your death, the state |
| -You are committed to staying in your home | | | | will sell the house and pay the debt. |