Orange County Reverse Mortgage – OCReverse.com
GOAL: Stay out of a nursing home Mr. and Mrs. Smith have lived on their family home for 30 years, just recently paying off the mortgage. Mr. Smith’s medical needs begin to rise. He does not want to leave his wife and his home and move into an assisted living facility. They would have to …
Mr. and Mrs. Cook have 2 adult children. One lives only a couple of mile away, the 2nd child lives out of state and has 2 children of her own. They would like to be able to see their grandchildren more often, but their daughters family does not have a spare room, or a comfortable …
The son of client Mr Bowers had recently suffered a medical emergency which led to job loss. The loss of income then prevented him from paying the mortgage and then facing foreclosure. Mr. Bowers had a nice home in southern California that was paid off with no mortgage at the time. The son was Mr. …
If you are carrying debt currently, a reverse mortgage may be a tax-advantaged financially superior way to consolidate and wipe out debt. Reverse mortgages are exactly like a regular mortgage in terms of equity – you can use the funds for whatever you like, but unlike a regular mortgage there are zero monthly payments. The …
Retirement is often the perfect time for travel, and a reverse mortgage can help you reach your travel dreams. One wonderful way a reverse mortgage can help is bringing families together. This is a fun way to start contributing to the next generation while you’re around to enjoy the process, creating new memories and enjoying …
One interesting use of a Reverse Mortgage is using it to pay off the last few years of a forward mortgage, and in doing so, you won’t have any payment, and thus can delay collecting on social security, and thus collect a higher amount. That’s a lot of moving parts, but in short, by delaying …
A Reverse Mortgage is a powerful tool to unlock illiquid home equity into cash. The underlying asset (the home) is still yours, just like a regular forward mortgage, and you can use the funds however you like. Most people start retirement strong: they have some funds saved, expenses are relatively low at first and frankly …
Funds from a reverse mortgage can be used however you like. One of the more common ways to leverage a reverse mortgage is for aging in place, and getting in-home medical care and support to avoid moving to a nursing home. By doing so, one has a more comfortable environment, and greater control over the …
Retirement is often the perfect time for travel, and a reverse mortgage can help you reach your travel dreams. RV & Boat Financing from $0 / Month Sound too good to be true? Whether you want to take a dream vacation with your family, or hit the seas or road for an extended time, reverse …
One interesting case-study that came up recently was a client who wanted to buy a business. Frankly, he was a little bored with retirement it seemed and also wanted to make some money, and ideally have some more assets to leave his family. Conventional business financing would potentially put his stability at risk, as most …