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Reverse Mortgage Information

Reverse Mortgage Information

Laws regulating reverse mortgages are have changed substantially in recent months, so please fill out the form on the right to get up to the minute reverse mortgage information from a licensed CPA.

The goal of this article (and this website) is to provide important reverse mortgage information that other sources might leave out. We want to help retirees make an informed decision on whether this loan product is the right choice of financial vehicles for their needs. As a licensed CPA, we are not interested in recommending a product to anyone if it doesn’t fit their financial situation.

What is a reverse mortgage?

So what is a reverse mortgage? A reverse mortgage is a loan product that allows borrowers who are at least 62 years of age to convert their home equity into a monthly stream of income. It can also be an unused credit line or piggybank available for future wants or needs. The conversion of equity into cash is why reverse mortgages are also called Home Equity Conversion Mortgages (HECM).

The Federal Housing Administration (FHA) insures these reverse mortgages. A HECM unused credit line grows monthly and will never be reduced. This is different from a Home Equity Line of Credit (HELOC), which can be slashed by the lender if your property drops in value, and definitely does not grow.

Loan proceeds from a reverse mortgage can come as regular monthly payments to the homeowner, or they can be drawn in unscheduled and changing amounts at the borrower’s discretion. For this reason, a HECM can be very useful for some retirees by providing a source of income to supplement other retirement income. A reverse mortgage may be perfect to add to a retiree’s Social Security, 401K, and investment income.

Reverse mortgage information tailored to your needs

DS Consulting tailors reverse mortgage information to the needs of its clients. We typically consult with many prospective clients, and only a small number decide to go with a reverse mortgage. That’s because there are common scenarios where a HECM won’t be favorable to the borrower. We will help you understand these variables in plain language during our free consultation. We are happy to meet with retirees, their adult children, or other trusted advisors to make sure everyone has the benefit of the most current reverse mortgage information available.

Request more info

Use the short form on the right to schedule a free consultation to get information on reverse mortgages based on your specific financial situation. You will learn how a reverse mortgage works, how it can benefit you, and even the potential downsides of reverse mortgages. You can end monthly mortgage payments and let your house pay you cash each month. But it’s important to understand the details of how this loan product works, and we’ll help you do exactly that.

Prepared by a licensed CPA, our free assessment includes information on reverse mortgages that the typical sales person may not tell you. Our goal is to provide the information you need to make an informed decision. If obtaining a reverse mortgage is the right financial move for you, then we’d be happy to help you.

A HECM can help you live the retirement lifestyle you’ve dreamed of. Please contact us today to get information based on your unique financial picture. Our job is education, not sales!

Contact Us

DS Consulting
15281 Weeks Dr.
La Mirada, CA 90638
Phone: 562-902-2677

Licensing

Dennis Sanchez
NMLS #281480
BRE #01179128
California CPA #34077 (inactive)
DS Consulting
NMLS #793097
Equal Housing Opportunity

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