Are you 62 or older and are having trouble making your mortgage payment?
Many seniors are house rich and cash poor. A Reverse Mortgage might be the right answer for you. Here are some facts:
-Homeowners 62 and older have a record $7.82 trillion in home equity
-25% of Americans don’t have any retirement savings
-64% of retirees didn’t receive any help from their employers when transitioning to retirement
-50% of Americans aged 65 or over have an annual income lower the $24,224
-46% of homeowners aged 65 to 79 have mortgage debt
- 51% of Americans retire between 61 and 65
With a reverse mortgage, you will never have another mortgage payment and you will never have to leave your home for as long as you live*. You can use the money you used to pay your monthly mortgage for vacations, medical bills, grandchildren or other enjoyable pursuits. A Reverse Mortgage will give access to the equity in your home that you have worked so hard for. A Reverse mortgage is not for everyone, but it may be right for you.
My name is Chris Andrews and I love helping seniors. Sandra, my wife is the Site Manager at the Dana Point Senior Center and I volunteer there daily. I am a local Loan Officer here in San Clemente and I specialize in Reverse Mortgages. I can answer questions and help you assess your unique situation, to see if a Reverse Mortgage is right for you. I am available by phone or for in person meetings (I am fully vaccinated for Covid 19). Call me to see if Reverse Mortgage is right for you.
Chris Andrews 714-357-0987
*you are still required to pay property taxes and homeowners insurance