Conveniently located in Pleasanton, Cherry Creek Mortgage Company provides California mortgage loans for the Bay Area, East Bay, and Tri-Valley.
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California Reverse Mortgage – Get Cash From Your Home Equity
Without Selling or Making Payments
You've probably heard the term "reverse mortgage" a lot recently in the media. Even though this program has been around for several years, the reverse mortgage is beginning to grow in popularity. One reason this is happening now is baby-boomers are reaching retirement age and as one of the wealthiest segments of our society, many seniors have lots of equity in their homes.
A reverse mortgage is a convenient, alternative option for getting cash from your home. It allows seniors who are 62 or older to release some of their equity either in one lump sum or in monthly payments. The BIG difference is this…your mortgage lender is now paying YOU.
Reverse Mortgage Benefits
The money is tax free
No income requirements
No credit check
No payments for as long as you are in the home
YOU keep the title to your home
Get your money in weeks
The owner is responsible for paying back this money in the future by selling, moving into assisted care or upon death. In some ways, a reverse mortgage is just like a cash out refinance except that no monthly payments are made by the home owner.
Looking for a reverse mortgage lender? Cherry Creek Mortgage has reverse mortgage specialists on our team who would be happy to answer your questions. Our office is the Bay Area, but if you live anywhere in California, simply call our toll free number, 1-800-325-2062 and ask for reverse mortgage information.
Feel free to use our handy reverse mortgage calculator for an estimate of how much money you could get from your home.
A reverse mortgage is a convenient, alternative option for getting cash from your home. It allows seniors who are 62 or older to release some of their equity either in one lump sum or in monthly payments. The BIG difference is this…your mortgage lender is now paying YOU.
Reverse Mortgage Benefits