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Dave Gomer-Financial Peace of Mind
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  • About Reverse Mortgages
    • Top 10 Reverse Mortgage Questions
    • Intro to Reverse Mortgages
    • How It Works
    • Reverse Mortgages FAQs
    • Reverse Mortgage Myths
    • The Reverse Mortgage Process
    • Choosing a Loan Originator
    • HECM For Purchase Guidelines
    • History of Reverse Mortgages
    • FHA-Insured
    • Reverse Mortgage Resources
  • Who We Help
    • Seniors
    • Adult Children
    • Special Advisors

Reverse Mortgage Myths

Reverse mortgages can be so beneficial in people's lives, but there is unfortunately a lot of misinformation out there about the product. I have addressed some of the common myths here, but please feel free to contact me with any additional questions.

Reverse Mortgage Myths

  • You lose your home
  • It’s only for broke people
  • It’s free money
  • My equity isn’t safe
  • It’s not a safe program

Reverse Mortgage Facts

  • You retain title to your home*
  • Many retirees use a reverse mortgage
  • It’s a specialized loan
  • Reverse mortgages that are FHA-insured (Home Equity Conversion Mortgages) are insured by the Federal Housing Administration providing protections for both borrowers and lenders

* There are some circumstances that will cause the loan to mature and the balance to become due and payable. A reverse mortgage loan is secured by a mortgage on your home and failure to comply with loan terms could result in foreclosure. Borrower is still responsible for paying property taxes, homeowner’s insurance, and maintenance. Credit is subject to age, property, income guidelines and credit history. Program rates, fees, terms and conditions are not available in all states and are subject to change.

How Does It Work?
Learn how a reverse mortgage could provide you more cash.
How It Works
What Do Family Members Need To Know?
Get informed about how everyone is affected by a reverse mortgage.
Adult Children
How Much Can You Get?
Use our free calculator that will help you see how much you could qualify for.
Loan Calculator
Is It Right For You?
Get the facts from a qualified reverse mortgage originator.
Get The Facts
Would you like to see how much you can get?
NMLS#: 332523
NMLS Consumer Access
ADA Notice
This information 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. These materials are not from HUD or FHA and were not approved by HUD or a government agency.
* There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default.. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.

David Gomer
Senior Funding Associates
23801 Calabasas Road # 2018
Calabasas, CA 91302
Phone: (800) 995-1951

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Disclosures & Licensing

 

SENIOR FUNDING ASSOCIATES

A California Corporation

DBA - SENIOR FUNDING

CA Dept. of Real Estate - Real Estate Broker #01322497

 

NMLS # 332523

Reverse Mortgage Professional located in Calabasas and serving Woodland Hills, Thousand Oaks, Granada Hills, Northridge, West Hills, Camarillo, Van Nuys, North Hollywood, Chatsworth, Los Angeles, La County, Ventura County, Orange County, and the surrounding Southern California area.

© 2018 . All rights reserved.

  • Home
  • About Me
    • About Me
    • Disclosures & Licensing
  • About Reverse Mortgages
    • Top 10 Reverse Mortgage Questions
    • Intro to Reverse Mortgages
    • How It Works
    • Reverse Mortgages FAQs
    • Reverse Mortgage Myths
    • The Reverse Mortgage Process
    • Choosing a Loan Originator
    • HECM For Purchase Guidelines
    • History of Reverse Mortgages
    • FHA-Insured
    • Reverse Mortgage Resources
  • Who We Help
    • Seniors
    • Adult Children
    • Special Advisors