California Reverse Mortgages Give Seniors Financial Security

Released on = December 13, 2006, 8:01 am

Press Release Author = Camelot Marketing

Industry = Financial

Press Release Summary = California reverse mortgage information shows how seniors
can be financially secure with additional income. Reverse mortgage income can be
used in any manner including payment of medical bills or vacation

Press Release Body = Over 150,000 seniors have already benefited from reverse
mortgages. A California reverse mortgage is a loan that enables senior homeowners,
age 62 and older, to convert part of their home equity into tax-free income-without
having to sell their home, give up title to it or make monthly mortgage payments.

The money can be used for anything, from daily living expenses, home improvements,
healthcare expenses, paying off existing debts, or simply enhancing the retirement
years. For many people, the money provides a \"financial security blanket,\" in case
unexpected expenses arise.

You need not pay back the reverse mortgage loan to the lender nor make any monthly
mortgage payments until the home is permanently vacated.

The money received from a California reverse mortgage loan can be used in any manner
and because it is not considered income, it is tax free and will not affect Social
Security or Medicare benefits. It is recommended that a CPA be consulted regarding
the specific situation.

A California reverse mortgage loan can help parents create a new source of tax-free
money without having to sell their home. In fact, they can stay in the home and tap
into money they\'ve earned in the form of home equity and avoid having to depend on
relatives for financial assistance.

Full title of the home is retained without any risk of losing the home to the
lender. And no matter what happens to the housing market, seniors can never owe more
than the value of their home when it is sold.

When the last-remaining parent passes away while living in the home, the heirs
simply pay off the reverse mortgage principal plus accrued interest. If heirs want
to keep the home in the family, a new traditional mortgage can be arranged.

If no one in the family is interested in keeping the home, it can be sold to repay
the loan. Any money left over goes to the estate to be shared according to the
seniors\' last wishes.


For more information on a California reverse mortgage loan please call 866 398 4664
or go to:

FreeFinancialConsulting.com offers free, no obligation, advice in all areas of
personal finance including insurance and home loans. In addition to California
reverse mortgage information, advice on other mortgage products such as refinance
and debt consolidation is available.


Web Site = http://www.freefinancialconsulting.com

Contact Details = Keith Hunt
8190 Orchard Street
Alta Loma , 91701
$$country

9099871233
camelot21@mindspring.com
http://www.freefinancialconsulting.com

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