About Us
Fiction: With a reverse mortgage, you are selling your house to the bank.
Fact: Borrowers never give up the title or ownership of their home.
Fiction: Reverse mortgages are costly and have high fees.
Fact: Interest rates are comparable to conventional FHA rates, and fees vary by lender.
Fiction: When the loan balance grows bigger than the home value, the borrower is on the hook for the difference.
Fact: A reverse mortgage is a non-recourse loan and a borrower/estate will never owe the lender more than the current value of the home.
Fiction: You must own your home free and clear to qualify for a reverse mortgage.
Fact: Most borrowers use loan proceeds to pay off an existing mortgage.
Fiction: Reverse mortgages are a loan of last resort.
Fact: Most borrowers use a reverse mortgage line of credit as a safety net to draw on in case of emergencies.
Come to our free Community Education Session on Reverse Mortgage Loans, Retirement Planning and Family Trusts on Thursday, August 2nd. This seminar will begin at 5:00 PM and will be held at the Simi Valley Public Library. Homeowners aged 62+ and their family are encouraged to attend.