Your home is your castle. Whether you built it yourself or worked 9-5 for twenty years to afford your dream home, every homeowner in California knows they have a slice of paradise. I live in Santa Cruz, CA and work with homeowners throughout Santa Cruz County as well as San Jose and the Greater Bay Area. With a Home Equity Conversion Mortgage, you're not obligated to make a monthly mortgage payment, you're just required to maintain the home and pay insurance premiums, property taxes and any applicable HOA fees.
This means the keys (and title) to your castle stay in your hands - not the banks. Designed by HUD for folks 62+, the loan proceeds go towards paying off any existing mortgage or HELOC. The rest of the loan proceeds can be taken as cash, monthly check, or a line of credit. Or any combination. It's your choice. After all, it's your equity. Consider attending one of my free seminars to learn the ins and outs of reverse mortgages!
View my upcoming events here. We couldn't have done this without Marina.
This means the keys (and title) to your castle stay in your hands - not the banks. Designed by HUD for folks 62+, the loan proceeds go towards paying off any existing mortgage or HELOC. The rest of the loan proceeds can be taken as cash, monthly check, or a line of credit. Or any combination. It's your choice. After all, it's your equity. Consider attending one of my free seminars to learn the ins and outs of reverse mortgages!
View my upcoming events here. We couldn't have done this without Marina.
Services
Marina brings patience, listening skills, honesty, and integrity to all of her customers.
She is dedicated to educating people through regular community workshops to help people understand the Home Equity Conversion Mortgage (HECM) program as well as jumbo reverse mortgage options.
Prior to her work as a reverse mortgage consultant, Marina worked in the solar industry, helping homeowners in Santa Cruz County.
Her career in book publishing in San Francisco spanned over 15 years, including sales, licensing, and work as a literary agent.
She is dedicated to educating people through regular community workshops to help people understand the Home Equity Conversion Mortgage (HECM) program as well as jumbo reverse mortgage options.
Prior to her work as a reverse mortgage consultant, Marina worked in the solar industry, helping homeowners in Santa Cruz County.
Her career in book publishing in San Francisco spanned over 15 years, including sales, licensing, and work as a literary agent.
2. Be contacted about a mortgage at my phone number even if my phone number appears on a State or National Do Not Call Registry, or any other Do Not Contact List.
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).
It is not intended to be a substitute for legal, tax or financial advice.
Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default.
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).
It is not intended to be a substitute for legal, tax or financial advice.
Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default.
A Home Equity Conversion Mortgage (HECM) is the formal name of the federally-administered loan that many commonly refer to as the 'reverse mortgage' loan.
The Home Equity Conversion Mortgage is administered by H.U.D. (The Department of Housing & Urban Development) and may help qualified homeowners 62 and older enhance their cash flow during retirement.
There may also be private jumbo reverse mortgages' available in your area for higher-valued properties (usually over $700,000 in value) which are not insured by FHA.
The Home Equity Conversion Mortgage is administered by H.U.D. (The Department of Housing & Urban Development) and may help qualified homeowners 62 and older enhance their cash flow during retirement.
There may also be private jumbo reverse mortgages' available in your area for higher-valued properties (usually over $700,000 in value) which are not insured by FHA.
Do I have the financial resources to help my parents with their medical and living expenses?.
What are my parents' wishes as to staying home if medical care is needed for an extended time?
Will Mom and Dad use up my inheritance?
While tapping into their home's value, your parents' home may appreciate in value, which could allow for some equity to be left at the end of the loan, but not always.
It is possible for your parents to use up their home's remaining equity.
Keep in mind that they could be able to live more comfortably without having to depend upon family members to support them.
What are my parents' wishes as to staying home if medical care is needed for an extended time?
Will Mom and Dad use up my inheritance?
While tapping into their home's value, your parents' home may appreciate in value, which could allow for some equity to be left at the end of the loan, but not always.
It is possible for your parents to use up their home's remaining equity.
Keep in mind that they could be able to live more comfortably without having to depend upon family members to support them.
A reverse mortgage loan is not for everyone.
We can provide detailed loan scenarios to you (with your client's permission) to help reach a decision that is aligned with the interest of all parties.
We are upfront with all our clients about the advantages and disadvantages of a reverse mortgage.
Proceeds received from a reverse mortgage typically do not affect Social Security or Medicare.
Provides access to a portion of their home's value without the requirement of monthly mortgage payments.
Borrowers must continue to meet ongoing property obligations such as homeowner's insurance and property tax payments.
We can provide detailed loan scenarios to you (with your client's permission) to help reach a decision that is aligned with the interest of all parties.
We are upfront with all our clients about the advantages and disadvantages of a reverse mortgage.
Proceeds received from a reverse mortgage typically do not affect Social Security or Medicare.
Provides access to a portion of their home's value without the requirement of monthly mortgage payments.
Borrowers must continue to meet ongoing property obligations such as homeowner's insurance and property tax payments.
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