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California Reverse Mortgage

Reverse Mortgage DVD

Request a Free Reverse Mortgage DVD. Upon completion of our form, we will mail you a Reverse Mortgage DVD. You can expect your DVD in the mail within 7 business days.

reverse mortgage dvd“What an informative DVD. The best part about it is that it’s free!”
– Jim Pruitz

California Reverse Mortgage

Welcome to Reverse Mortgage DVD! We are a California based company that specializes in helping to empower and enrich Seniors. Reverse mortgages have grown in popularity in California over the duration of the last decade among homeowners age 62 and over, and with good reason; a Senior Reverse Mortgage or Senior Equity Mortgage can help California homeowners to tap into the equity that they have accumulated in their home and utilize these funds as they see fit. Reverse mortgages do not require a monthly payment to be made from the borrower to the lender, and can provide the homeowner with needed cash to do with as they see fit.

Reverse Mortgage Definition

A reverse mortgage is a federal loan available to seniors aged 62 or older and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner’s obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves, they can be out of the home for up to 364 consecutive days. To qualify for a Reverse Mortgage the borrower must be at least 62 years of age. There are no minimum income, nor credit requirements, however there are other requirements. The application must qualify to afford the home, to cover taxes, insurance, utilities, water, gas, etc. For most reverse mortgages, the money can be used for any purpose, however, the borrower must pay off any existing mortgage(s) with the proceeds from the reverse mortgage.

Reverse Mortgage Counseling

Reverse mortgage counseling is a mandatory part of the reverse mortgage application process and is typically completed just before or after completing an application for a reverse mortgage. Reverse mortgage counseling can be done over the phone with one of the national counseling agencies or it can be done face-to-face with a regional agency. To search for an approved HUD Reverse Mortgage Counseling Agency click here.