Feel the American Dream slipping away?
Feel the
American Dream slipping away into a retirement
nightmare?
Let’s Reverse it!” Make your home help pay for your retirement….as you’d intended and find the financial security you’re seeking.
Reverse Mortgage FAQs
Did you know that most
Internet searches about reverse mortgages happen around 2 am?
It's true!
People who can't sleep at night because they're afraid of losing everything they've worked hard their entire lives to build for their families make 2 am prime time for seeking solutions to their financial concerns.
I’ve been there myself, and it’s a scary place to be. That's why
I've dedicated my golden years to helping other seniors find options that work for them. These are just a few of the questions I get most often about whether a reverse mortgage can really help or not.
Q:
What is a “reverse mortgage?”
A: A reverse mortgage lets homeowners borrow against the equity in their home while still living there. Unlike traditional mortgages, the homeowner makes no payments.
Instead, the lender pays to the borrower through lines of credit, monthly payments or a single lump-sum payout.
Q: How do I know if a reverse mortgage is right for me?
A: Every household’s financial picture is a little different. If you are age 62 or over, not living on a small fixed income and own your home, those are the main qualifiers. However, the entire situation and your financial goals need to be taken into account.
Q:
Does a reverse mortgage cost anything?
A: Just like a regular mortgage, closing costs, insurance, necessary property repairs, appraisal fees and cost of counseling services required by the federal government are all part of a reverse mortgage's initial cost. Some of this is built into the payout while some must be paid upfront.
Q: How is a reverse mortgage paid off?
A: A reverse mortgage is usually paid in full when:
a. The homeowner/s die
b. The home is sold
c. The homeowners move away
Q: How much can I get from a reverse mortgage?
A: This depends on several factors, including:
a. The value of the home
b.
Interest rates
c. Your age
The older you are and the more valuable your home is, and the lower interest rates are at the time you apply, the more money you are likely to be eligible for.
Q: What are the drawbacks to a reverse mortgage?
A: Generally, a reverse mortgage can be a problem for people who are thinking about moving or who don’t have enough income to keep up with property taxes and insurance premiums. It may also reduce the amount your children or other beneficiaries of your estate can claim. Since each situation is different, we would need to sit down and take a look at the whole picture before deciding whether a reverse mortgage offers the right mix of benefits to you.
Brad Golding can help you with a reverse mortgage.
Brad Golding has worked as a
CFO for a nationally recognized real estate company, loan officer, mortgage banker and broker. When retirement came, like many seniors he thought he had it made. Then the real estate “bubble” burst, followed immediately by two major market crashes including the
Great Recession.
Social Security didn’t keep pace with inflation and real estate values plummeted. As his
IRA and 401k savings melted away, he found himself scrambling for a solution to a suddenly grim financial picture when he expected to be taking it easy and enjoying his golden years.
Because of his experience in the real estate industry and his emphasis on mortgages, Brad understands how reverse mortgages can be used and abused to defraud customers. Because he’s seen firsthand how reverse mortgages can be both good and bad, he takes the time to make sure it’s the right option for a specific situation.
Brad prides himself on the fact that out of thousands of people he has helped with reverse mortgages since
1993, only two couples ever lost their homes afterward. Both of those times were related directly to divorce proceedings. He works hard to help seniors who find themselves facing the same financial uncertainties he has experienced by transforming home equity into financial breathing room.
Call 800-695-1054
C2 Financial
Corporation has been in the mortgage business for many decades.
The company has evolved over the years and has been effectively serving the
Western United States while achieving an A+ rating with the
Better Business Bureau. C2 only hires the very best in the business and has been rated as one of the Top
Mortgage Lenders by
Scotsman’s
Guide, a national magazine that rates lenders. C2 offers all types of mortgage products through the nearly
500 loan officers who work there.