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| Reverse Mortgages are Regulated and Insured by the U.S. Government |
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| Reverse mortgages have been around for more than 40 years and are one of the most regulated and safest areas of banking. These regulations have given seniors the assurances they need to make reverse mortgages the fastest growing type of mortgage. There has been a nearly 500% growth in the number of reverse mortgages from 2001 to 2004. A Pro-Senior Tradition... The U.S. government sponsors the reverse mortgage program, which is modeled after a program originally created by the AARP. Reverse mortgages are federally insured. Proven safe... Over 200,000 seniors have recently benefited from reverse mortgages. The fact is that reverse mortgages are government-protected loans and many safeguards are in place to protect seniors from unethical lending practices. Only a select few lendors are even allowed to offer reverse mortgages. |
Independent Review... All applicants receive a free independent review from a certified, HUD-approved counselor to make sure that you have had all their questions answered and that there's been no confusion. It’s a protection device that the government has built into the process of obtaining a reverse mortgage. Protect your personal assets... A reverse mortgage is a non-recourse loan. Unlike traditional "forward" mortages, where the lender can take your home or personal property, a reverse mortgage protects your home and all of your property. Keep title to the house... With a reverse mortgage, you remain the owner of your home just like when you had a forward mortgage. You are still responsible for paying your property taxes and home-owner insurance and for making property repairs. |
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SERVING ALL OF CALIFORNIA'S REVERSE MORTGAGE NEEDS