I thought if my own mother needed these services there were probably many others like me looking for a way to help their aging parents remain in their homes and stay financially independent.
Laguna Hills, CA (PRWEB) June 3, 2008
All-America Financial, Inc. has launched a new consumer site, ABCReverseMortgage.org, to provide seniors with assistance when obtaining reverse mortgages. Reverse mortgage loans that allow senior homeowners 62 years of age and older to turn the equity built up in their homes into cash payments are the most rapidly growing segment of the housing market. By offering a free consultation and 15 page reference guide, ABCRevereMortgage hopes to take the mystery out of reverse mortgages for the growing senior population and those who assist and care for them.
ABCReverseMortgage offers a choice of Single Purpose Reverse Mortgages, Home Equity Conversion Mortgages (HECMs), or Proprietary Reverse Mortgages. HECM loans require counseling by a HUD-approved housing counselor, and ABCReverseMortgage strongly encourages that same counseling for single purpose reverse mortgages and proprietary reverse mortgages as well. Due to the breadth and variety of choices and details in the individual reverse mortgage application process, ABCReverseMortgage.org feels having your own counselor to make informed decisions is the best way to take full advantage of a reverse mortgage.
After spending many years freeing homeowners trapped in subprime lending situations, once again the principals of the company see the human benefit in their newest service offering.
"Our new reverse mortgage site was created as a result of helping my mother remain in her home," Brian Cunningham, a company principal, stated. "I thought if my own mother needed these services there were probably many others like me looking for a way to help their aging parents remain in their homes and stay financially independent."
In addition the helping seniors remain financially independent some further advantages of a reverse mortgage include retaining ownership of their homes, remaining in their homes for as long as they want, and income that is nearly tax free and won't affect their Social Security or Medicare benefits. Moreover, HECM loans are FHA-insured, providing many seniors with additional peace of mind.
Currently licensed by the U.S. Department of Housing and Urban Development (HUD), the California Department of Corporations, and the California Department of Real Estate, ABCReverseMortgage.org offers reverse mortgage services to seniors living within the state of California.
The company is currently seeking licensing to expand their service offerings nationwide.
About All-America Financial, Inc.:
ABCReverseMortgage.org is the reverse mortgage division of All-America Financial, Inc., a privately held company headquartered in Laguna Beach, California. A proud member of the Robert Wagner Senior Loaning Network (SLN) with more than thirty years of combined mortgage, loan, and real estate experience, the company offers Single Purpose Reverse Mortgages, Home Equity Conversion Mortgages (HECMs), and Proprietary Reverse Mortgage services to seniors and their caretakers.
For more information on reverse mortgage services from All-America Financial, Inc. visit ABCReverseMortgage.org.