Financial planning. The value of your home will move up or down regardless of the mortgage you have on it, if any. Why not rebalance some equity into other investments? See our example case studies for more options, or ask us, but one family pulled money out of their primary home to buy a 2nd home for cash near their grandchildren. No equity was lost – they just shifted it from one house to two, and enjoy a better quality of life to be near family.
Cash is King. It’s always better to have liquid funds available and not need it, than the other way around.
Clear out medical or other debts, and improve your quality of life. One couple had several thousands of dollars in dental work they’d put on a credit card, and were steadily paying down via social security, but that meant not visiting their children. With a reverse mortgage you’ll still leave the home to your kids if that’s what you choose, they’ll just have a small mortgage on it they can refinance or pay off.
Stay out of a Nursing Home. By planning ahead with retrofitting and in-home care when you’re further along and need some help, a Buena Park Reverse Mortgage can help you by freeing up cash for this.
Giving to family while you’re around to enjoy the transfer. A lot of well meaning families plan to leave their home to heirs – but by spreading this out over a number of years, you may be able to reduce the tax implications by staying below the annual gift-tax threshold, and you’re also able to have a hand in directing those funds toward grandkid’s college funds, travel together and more.
Next step: Schedule a free consultation with us about your Buena Park Reverse Mortgage and get some options. No pressure – just numbers to consider.
More about our city…
Buena Park is a city located in northwestern Orange County, California. As of the 2000 census, the city had a total population of 78,282. The city is located adjacent to the City of Anaheim and is located 12 miles northwest of Downtown Santa Ana. It was founded by James A. Whitaker, a wholesale grocer from Chicago, Illinois in 1887 and incorporated in 1953. An agricultural center at its founding, particularly dairy, wine and citrus products, the city is now primarily a residential suburb. Buena Park is home to several tourist attractions, most notably Knott’s Berry Farm.
Buena Park is also home to Korean, Chinese and Vietnamese Americans. Buena Park is noted for its Asian-themed restaurants. Many food distributions centers in Buena Park import goods from various countries in the Pacific Rim and then ship them to Asian supermarkets across California.
Construction on a Metrolink Orange County Line station in Buena Park started in January 2006. It is expected to open in early 2007.
