California Reverse Mortgages by your Sacramento Reverse Mortgage Provider

Discount California Reverse Mortgage

New California Reverse Mortgage Loans Make sure a Borrower can Repay

Available to homeowners 62 years of age and older, a reverse mortgage loan allows seniors to convert some of the equity in their home to cash. California reverse mortgage loans are varied, and a reputable loan originator is able to discuss how each one works. The idea is to assist retirees to make use of the wealth of their homes in order to take care of issues around failing health, to enjoy an overseas trip or even just basic monthly living expenses. The loans allow seniors to stay in their homes and turn their equity into tax-free cash. The beauty of these loans is that seniors are not required to pay back the loan until they leave the home and it is sold. While they are occupying the home they don’t have to make any monthly payments towards the balance of the loan but they do have to keep up with homeowners insurance and property taxes.

Borrowers Cashing out Significantly Less than Before

The changes in California Reverse Mortgage loans have meant them being more pricier than ever. The changes in rules will significantly reduce the number of borrowers eligible to draw down cash against the value of their homes and to this end senior homeowners are rushing to beat the deadline.
Borrowers will no longer get out as much of their home equity as they once were able to. Borrowing costs are getting higher while the loan amount is shrinking. With the new rules, retirees will be cashing out some 10 – 15% less of their equity than HUD has always allowed. The Department of Housing and Urban Development is also wanting borrowers to undergo financial assessments and are also looking at their credit score too which means not everyone can take out a loan and they can’t just borrow any amount either.

The Amount You can Borrow is Less
The federal government, in at effort to strengthen the federal Home Equity Conversion Mortgage program, is busy reigning in on rules around reverse mortgages, making it harder than ever for seniors to get these mortgages and also reducing the amount of their home’s value that they can take out. It is time to act now because the tighter limits means that seniors are not going to find it as easy to borrow as much on a reverse mortgage as they have in the past.
Reverse mortgage borrowing limits will further be lessened when interest rates rise again, and it would be prudent to take advantage of a reduced loan origination fee and to get started on a reverse mortgage loan before the end of March 2014.

Jeffrey Bangerter NMLS# 18361 is a California Reverse Mortgage Loans Originator offering reprieve.
Don’t Waste Any Time
Reverse mortgages are somewhat more expensive than other home loans, and with the Reverse Mortgage Stabilization Act mandating fee increases , they are even more pricier than ever. Jeffrey Bangerter is currently offering a $1,000 discount on California Reverse Mortgage Loan Origination Fees and this offer continues till the end of March.
Changes have been made to the structure of the loans, but you are still able to get your loan without financial qualification. Are you looking for a better, brighter future and financial independence? A reputable, ethical and reliable California Reverse Mortgage loans provider is offering you the chance to save money with this amazing exclusive offer and to reach out to enjoy the life you deserve as seniors.