Article provided by: Reverse Loan Solutions

reverse mortgage Laguna Woods

Should you start to wonder if a reverse mortgage in Laguna Woods is the right choice for you, it is best to talk with a reverse mortgage lender. This is a situation where the more information you have, the easier it is to decide if this is the best step to take. It begins with you gathering an understanding of all of the details and how it works, as well as how it impacts you – both now and also in the future. 

Once you have a detailed discussion with someone from a trusted reverse mortgage company in Laguna Woods, you will have all the intel on this option and how it may fit your needs. If you truly want to learn about a Home Equity Conversion Mortgage (HECM), our staff here at Reverse Loan Solutions is available to share this information with you.

These are five of the main things you should keep in your mind when you are looking into all avenues for a reverse mortgage in California: 

  1. Be Mindful of Overly Pushy Sales Pitches – You will find out rather quickly if you are speaking to someone you can trust to help you with a Laguna Woods reverse mortgage. You should never feel the pressure of getting hit with a pushy sales pitch. Instead, you should have the framework and details laid out for you.

  2. Know All the Features – With a reverse mortgage, you retain the title. This means you are also responsible for utilities, insurance, property taxes, and maintenance. Without attending to these things, your mortgage will become due, and you have to pay it. If you are not careful and do not plan accordingly, you may not have much of an asset to leave to any heirs.

  3. Understand Tax Consequences – When it comes to taxes, the interest that you have on a reverse mortgage in Laguna Woods is not deductible until you can pay off the loan in part or full.

  4. Right of Rescission – If you are not happy with the choice, you will have three calendar days to cancel your loan because you changed your mind. Any good lender will explain all of this information to you when you are in the middle of the loan closing phase.

  5. Work with a Lender You Can Trust – As always, you need to go with a lender that you can trust. Should you ever feel uncomfortable with a lender you are speaking with, then it is time to find someone else. Here at Reverse Loan Solutions, we always take the time to ensure that our prospective customers have the details they need to make an informed decision.

Do you want to know all about your options for a reverse mortgage in Laguna Woods? We know that you want to enjoy your retirement and protect your loved ones, so learning all about the ins and outs of this process is the best way to proceed. Contact Reverse Loan Solutions to speak with a loan counselor by calling (800) 791-5626. Counselors are available to take your call 24 hours a day, seven days a week.

reverse mortgage Laguna Woods