{"id":2366,"date":"2018-08-12T16:19:12","date_gmt":"2018-08-12T16:19:12","guid":{"rendered":"https:\/\/dreamhomefinancing.com\/\/?page_id=2366"},"modified":"2018-08-15T12:24:13","modified_gmt":"2018-08-15T12:24:13","slug":"california-reverse-mortgage-lenders","status":"publish","type":"page","link":"https:\/\/dreamhomefinancing.com\/california-reverse-mortgage-lenders.aspx","title":{"rendered":"California Reverse Mortgage Lenders &#8211; Info and Fast Approval"},"content":{"rendered":"<section class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<div>\n<p><strong><u>What is a Reverse Mortgage?<\/u><\/strong><\/p>\n<p><strong>California reverse mortgages<\/strong>\u00a0enable older homeowners (62+) to convert part of the equity in their homes into tax free income without having to sell the home, give up title, or take on a new monthly mortgage payment. The\u00a0reverse mortgage\u00a0is appropriately named because the payment stream is reversed. Instead of making monthly payments to a lender, as with a regular mortgage, <span style=\"text-decoration: underline;\">a lender makes payments to you<\/span>. Below is some basic information about California reverse mortgages. <a href=\"https:\/\/dreamhomefinancing.com\/\/ReverseMortgages.aspx\">Click to read the full explanation and details on reverse mortgages<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<div style=\"text-align: center;\"><span style=\"color: #0000ff; font-size: 14pt;\"><a style=\"color: #0000ff;\" href=\"https:\/\/dreamhomefinancing.com\/\/LeadForm.aspx\">Click to Connect With California Reverse Mortgage Lenders for a Free Consultation<\/a><\/span><\/div>\n<div><\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;5px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<div><strong><u>California Reverse Mortgage Requirements<\/u><\/strong><\/div>\n<ul>\n<li>You must be at least 62 years old.<\/li>\n<li>The home must be your primary residence.<\/li>\n<li>You must hold the title to the home.<\/li>\n<li>You must either have a small loan balance on the home now or own it with no mortgage.<\/li>\n<li>You must be capable of paying the taxes on it annually.<\/li>\n<li>You must not be delinquent on any federal debt.<\/li>\n<li>You must participate in a FREE and easy consumer counseling or information session held by an approved HECM counselor.<\/li>\n<\/ul>\n<p><strong><u>Does My Home Qualify?<\/u><\/strong><\/p>\n<div>\n<p>California Reverse Mortgage property qualification types include the following:<\/p>\n<\/div>\n<ul>\n<li>Single family homes<\/li>\n<li>2-4 unit homes and you occupy at least one of them as your primary residence<\/li>\n<li>HUD approved condominiums or townhouses<\/li>\n<li>A manufactured home that was built after 1976<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<p><u><strong><span id=\"ms__id6\">What are My California Reverse Mortgage Payment Plan Options?<\/span><\/strong><\/u><\/p>\n<p>You can choose to receive the money from a\u00a0reverse mortgage\u00a0all at once as a lump sum, fixed monthly payments either for a set term or for as long as you live in the home, as a\u00a0<a href=\"https:\/\/dreamhomefinancing.com\/\/HomeEquityproducts\/\">line of credit<\/a>, or a combination of these.<\/p>\n<p><strong><u>How Can I Use the Proceeds from a Reverse Mortgage?<\/u><\/strong><\/p>\n<p>The proceeds from a\u00a0reverse mortgage\u00a0can be used for anything, whether its to supplement retirement income to cover daily living expenses, repair or modify your home (i.e., widening halls or remodeling a bathroom), pay for health care, pay off existing debts, buy a new car or take a dream vacation, cover property taxes, and prevent foreclosure.[\/vc_column_text][vc_column_text]<\/p>\n<p><strong><u>How Does the Interest Work on a Reverse Mortgage?<\/u><\/strong><\/p>\n<p>With a\u00a0reverse mortgage, you are charged interest only on the proceeds that you receive.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>California Reverse Mortgage Costs and Fees<\/strong><\/span> &#8211; <a href=\"https:\/\/dreamhomefinancing.com\/\/ReverseMortgages.aspx\">click to read in detail about your costs and fees<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<div style=\"text-align: center;\"><span style=\"font-size: 14pt; color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/dreamhomefinancing.com\/\/LeadForm.aspx\">\u00a0Click to get a\u00a0Reverse Mortgage Quote\u00a0from one of our California lenders<\/a><\/span><\/div>\n<div>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"text-decoration: underline;\">California Reverse Mortgage FAQ<\/span><\/strong><\/p>\n<p><strong>Q: What If I Have An Existing Mortgage?<\/strong><\/p>\n<p><u><\/u>A: You may qualify for a\u00a0<strong>reverse mortgage<\/strong>\u00a0even if you still owe money on an existing mortgage.<\/p>\n<p><strong>Q: What Is the Service Fee Set-Aside?<\/strong><\/p>\n<p><u><\/u>A:\u00a0The monthly servicing fee that ranges from $30-$35 to manage your account once the loan closes.<\/p>\n<p><strong>Q: Will I Lose My Government Assistance If I Get a Reverse Mortgage?<\/strong><\/p>\n<p>A: A\u00a0reverse mortgage\u00a0does not affect regular Social Security or Medicare benefits. However, if you are on Medicaid, any\u00a0reverse mortgage\u00a0proceeds that you receive must be used immediately.<\/p>\n<p><strong>Q: Why Do I Need to Get Counseling?<\/strong><\/p>\n<p>A:\u00a0Counseling is one of the most important consumer protections built into the program. It requires an independent third party to make sure you understand the program, and review alternative options, before you apply for a\u00a0reverse mortgage.<\/p>\n<p><strong>Q: When Do I Pay Back My Loan?<\/strong><\/p>\n<p>A: No monthly payments are due on a\u00a0<strong>reverse mortgage<\/strong>\u00a0while it is outstanding. The loan is repaid when you cease to occupy your home as a principal residence, whether you (the last remaining spouse, in cases of couples) pass away, sell the home, or permanently move out.<\/p>\n<p>We suggest that you click to contact a qualified\u00a0<span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/dreamhomefinancing.com\/\/LeadForm\/\">Reverse Mortgage Lender<\/a><\/span>\u00a0to discuss the fees and to get a\u00a0<a href=\"https:\/\/dreamhomefinancing.com\/\/LeadForm\/\"><span style=\"color: #0000ff;\">reverse mortgage quote<\/span><\/a>.<\/p>\n<p><strong>We are able to help you to find a reverse mortgage with the best reverse mortgage lenders in the following states:<\/strong> Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.<\/p>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space height=&#8221;10px&#8221;][vc_column_text]<\/p>\n<p>&nbsp;<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text] What is a Reverse Mortgage? California reverse mortgages\u00a0enable older homeowners (62+) to convert part of the equity in their homes into tax free income without having to sell the home, give up title, or take on a new monthly mortgage payment. The\u00a0reverse mortgage\u00a0is appropriately named because the payment stream is reversed. Instead of making&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[],"tags":[147],"acf":[],"_links":{"self":[{"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/pages\/2366"}],"collection":[{"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/comments?post=2366"}],"version-history":[{"count":2,"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/pages\/2366\/revisions"}],"predecessor-version":[{"id":2383,"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/pages\/2366\/revisions\/2383"}],"wp:attachment":[{"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/media?parent=2366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/categories?post=2366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dreamhomefinancing.com\/wp-json\/wp\/v2\/tags?post=2366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}