Reverse mortgage San Diego experts are offering free consultations
San Diego, CA (PRWEB) August 16, 2012
Reverse mortgages have become more popular in recent years. They allow seniors who own a home but have little cash or savings to benefit from the equity in the home while still living in it. Reverse mortgages work similar to a home equity loan, except that funds are not repaid until the owner dies or leaves the residence permanently; any equity left in the home after repayment will still go to the heirs of the borrower.
The most common type of reverse mortgage is a Home Equity Conversion Mortgage, otherwise known as an HECM reverse mortgage; HEMCs constitute approximately 90% of the market for this type of loan. A HECM reverse mortgage is insured by the FHA, which implemented the program in 1989. The first step the reverse mortgage San Diego professionals will take is examining the current senior’s situation. While the property owner does not need to own the home outright, the property does need to be in a condition that would deem it as lendable to a reverse mortgage San Diego lender. If the home is in need of a lot of repair, it may not qualify under the terms of the reverse mortgage San Diego lender. The reverse mortgage San Diego experts may advise you to make a few repairs before continue processing the loan. The reverse mortgage San Diego lender will offer this type of loan on many different types of homes. However, the home must be your primary residence. For example, if you currently own a multi-unit building, you could still qualify, according to the reverse mortgage San Diego experts, as long as one of the units your permanent or primary residence. SeniorBankServices.com works with may reverse mortgage affiliates, and offers one on one consultations for individuals that are considering a reverse mortgage in San Diego California. For more information about a reverse mortgage San Diego lender visit, http://www.seniorbankservices.com/reverse-mortgage-san-diego/
For individuals desperately searching online for concise information concerning how to use a reverse mortgage calculator to find out how much money you can expect, there is hope. The services offered by SeniorBankServices.com will help the applicant better understand the use a of a reverse mortgage calculator to figure out if the senior is eligible for a San Diego reverse mortgage on the home. The most important thing to understand is how a reverse mortgage calculator can show the individual how to live out the rest of their days based on the value of the home. If the applicant is at least 62-years-old and own the own home, the individual may be eligible for a reverse mortgage. The way that it works is that the San Diego homeowner will get money from the bank for the house, but the individual continues to live at the property. A reverse mortgage expert can use a calculation to see how much money the applicants will get the home.
To find out about how to use a reverse mortgage calculator to determine payments or to speak with a reverse mortgage expert, call (888) 429-4974
The reverse mortgage lender uses SEO professionals to help assist the company with internet marketing to promote the message about the importance of using a reverse mortgage San Diego expert, if someone is considering applying for a reverse mortgage. SeniorBankServices.com continues its online presence by offering a live consultant to visit the senior’s home and explain the process, and regularly posts reverse mortgage information on the company blog and social media pages. This information along with free consultations the company hopes to attract more San Diego California residents looking for a reverse mortgage. To read more on the company’s reverse mortgage San Diego Facebook page visit, http://www.facebook.com/ReverseMortgageSanDiego
About the Company: SeniorBankServices.com is a nationwide reverse mortgage information webiste that offers reverse mortgage information and connects prospective clients to qualified licensed reverse mortgage brokers and lenders to homeowners in San Diego California and throughout the United States. The company and its partners follow all rules and regulations regarding reverse mortgages. To learn more about the reverse mortgage San Diego California service or a reverse mortgage Orange County lender, visit the company website, http://www.seniorbankservices.com
Phone: (888) 429-4974