A Reverse Mortgage is a special type of home loan that lets a homeowner convert a portion of the equity in their home into cash. Yet, unlike a traditional home equity or second mortgage, no repayment is necessary until the homeowner(s) no longer use the home as their primary residence.

A Reverse Mortgage candidate:

• Is a homeowner, 62 years of age or older
• Owns their home outright or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan
• Lives in the home
• Receives consumer information from HUD-approved counseling sources

To find out if a Reverse Mortgage is right for you, call Russ Ciezata our Home Loan Specialist at 310-375-9000.