Reverse Mortgage Orange County

When someone types “reverse mortgage Orange County” into an internet search engine, they are likely looking to do a reverse mortgage on a property in Orange County, or maybe they are looking on behalf of someone who might do this.  They want to know if there are any peculiarities about this loan for Orange County, and they want to learn generally more about reverses.  Additionally, they may be looking for someone in the area who can help them.

This is exactly why we created this website.  There is a lot of misinformation out there about reverse mortgages, and there are plenty of sites with more sales push than actual information.  Our intent was to develop a site that focuses on thorough discussions of all the major areas of reverse mortgages.  We have done that and more.  We have regular articles on current developments in the industry, and we believe we have more easily understood, accessible, and comprehensive information in one place than  any other site out there.

Our desire is not so much to “sell” someone on a reverse mortgage, but rather to give all the pluses and minuses and put the borrower in the best possible position to see if a reverse mortgage is right for them.  A reverse mortgage won’t be for everyone, and shouldn’t be for everyone.  Even the best financial tools do not fit everyone at every time in their lives.

We (and our clients) have found that navigating around getting a reverse mortgage is often best done with a mortgage company rather than with a big bank, both in terms of pricing and in terms of personalized attention.  Plus, we are locally based in southern California and can help in person for those who want to meet face to face, though we do loans up and down the entire state and a physical meeting is not necessary.

With the economic struggles over the last handful of years, many people have found that the old saying “Cash is King” is more true than ever.  The value of having a free and clear home is less easy to see when it’s difficult to make the monthly bills.  This situation can be particularly difficult for seniors, who may not have the income options they once had.  The reverse mortgage helps level the playing field, you might say, by offering seniors an income option the younger folks don’t have.  A reverse mortgage enables a person age 62 and over to access the equity in their home for whatever reasons, and payment on that loan is delayed until the loan is either refinanced or the home is sold.  For many people they can remain in their home when they otherwise might be forced to leave.

For those seniors who are more well-to-do, the HECM Saver line of credit option is becoming popular as a tool for access to emergency cash.  If there is an unexpected need, they can dip into this account instead of disturbing well-established investments, and unlike a regular line of credit, no payments will be required on any money that is withdrawn.  Whatever their financial situation, whether in Orange County or elsewhere, more and more seniors are looking at whether a reverse mortgage may have something of benefit for them.