A reverse mortgage is a special type of home equity loan created just for seniors. The purpose of a reverse mortgage is to allow a senior to convert equity in a residence into cash. Unlike a conventional home equity loan, a reverse mortgage has a special feature:

Unlike a typical home equity loan or second mortgage, no repayment is required as long as the borrower(s) use the home as their residence.

Regardless of the amount of the loan, the market value of your home, or your financial situation, as long as you live in your home, the loan need not be repaid.

The funds from a reverse mortgage are tax-free, and can be used for any purpose you like, such as:
› Investments or Long Term Care Insurance
› Living Expenses and supplemental income
› Home remodeling, repairs or improvements
› Healthcare, medical expenses and prescription drugs
› Creating a legacy through financial planning
› Gifting to family during your lifetime
› Paying off existing mortgage and consumer debt

A borrower’s eligibility for a reverse mortgage is not based on income, employment or credit rating. Call Mary Jo today to see if you qualify.
** Certain restrictions apply. Not all programs available in all areas. Subject to loan approval. Loans funded under CA Finance Lender License #603F186.

Visit our Success Stories or Frequently Asked Questions sections for more information on reverse mortgages.