Reverse Mortgage Loans in California

If you are fortunate enough, you’re a senior citizen that’s able to pay off the remainder of your mortgage with no issues at all. If, however, you’re like others, paying off the mortgage can prove to be difficult, resulting in you having to look through lists of qualified reverse mortgage lenders in California. And if you’re one of them, then you know just how burdensome looking for lenders can be.

Most of the reverse mortgage lenders in California are more than willing to offer you an amazing deal that appears promising. But it’s crucial you’re mindful of the fact that while such offers are tempting, you should also be aware that not all reverse mortgage lenders in California provide the same set of terms. So if you’re done with being frustrated about trying to find the greatest loan lender, call the experts at American Bancshares right away. Our organization is filled with industry professionals ready to assist you.

American Bancshares’ 20+ years of gained experience was achieved because of the unequal services provided by its team members as well as their deep dedication to empowering communities. And because of this, we are widely recognized throughout as the premier California reverse mortgage service providers. If you wish to learn more about why you should hire us as well as what a reverse mortgage is, then continue reading below.

Why You Should Choose American Bancshares For a Reverse Mortgage in California

Our company is widely known and even admired as one of the best and most established California reverse mortgage lenders. But also, American Bancshares is even recognized and acknowledged for being a reliable mortgage lender. Thanks to our 20+ years of experience, we’ve assisted numerous partners and helped countless communities. And because of our work, our services have extended across to various regions of the nation.

Our organization’s structure was planned and designed by countless industry experts who carry a deep understanding of the modern home financing market. In contrast to banks, our organization offers mortgage products, meaning that all of our reverse mortgage lenders in California are licensed and well-educated in mortgage lending. Thanks to their expertise, they’re not only qualified to give you ethical advice, but they’re also deeply devoted to helping you find the right loan with a rate, terms, and cost-effectiveness that’s most beneficial to your best interests.

The organization of American Bancshares as a whole is deeply passionate about serving the community. And this is often due to the fact that our organization’s core values include:

  • Commitment
  • Integrity
  • Transparency

Most of our employees — including our senior management — have held every single position in the mortgage industry. And because of this, we’re able to gain amazing insight from numerous different and unique perspectives. Plus, with many viewpoints paired with deep knowledge about the industry. And because of this, we’re able to gain amazing insight from numerous different and unique viewpoints. Also, with many viewpoints paired with deep knowledge about the industry, we’re able to be flexible with industry changes while still being able to effectively and efficiently give clients unequal service and first-in-class customer service that American Bancshares is widely recognized for.

American Bancshares possesses leveraged technology to provide you with a simple, straightforward, online stress-free mortgage application experience. Through us, you’ll be provided with our reverse mortgage in California that will help you acquire the luxury property you want to buy.

Reverse Mortgage in California

You’ve been a resident of your home for a long time now and you’ve just recently found yourself burdened with keeping up with mortgage payments. But if you’re 62 years or older and possess considerable home equity, you can borrow against the value of your property in whatever payment type best fits your needs. Unlike your typical mortgage loans, reverse mortgages don’t require that you make any loan payments.

In today’s day and age, you have to be cautious when you’re applying for a reverse mortgage in California. California reverse mortgage lenders you seek services from might attempt to scam you. This is why you should always receive a reverse mortgage from a reputable MLO in California.

When you speak with us, we’ll be able to indicate to you if a reverse mortgage is the best course of action for you

How a Reverse Mortgage in California Works

Instead of you, the homeowner, making payments to the lender, a reverse mortgage allows the lender to make payments to you. As the homeowner, you’ll be able to choose how to receive these payments and you’ll only pay interest on the proceeds received. The interest is rolled into the loan balance so you won’t have to pay anything upfront. You will also be able to keep the title of your home. You’ll also have your debt increase as home equity is decreased.

As is usually the case with a forward mortgage, your home will serve as the collateral for a reverse mortgage. When you move away or become deceased, the proceeds from the home’s sale go to the lender in order to repay the reverse mortgage’s principal, interest, mortgage insurance, and miscellaneous fees. For any sale proceeds beyond what was borrowed, they’ll go to you (if you are still alive) or to your estate (if you are deceased). In some cases, your heirs might choose to pay off the mortgage so they can keep the home.

Reverse mortgage proceeds are not taxable. While they might feel like income to the homeowner, the IRS considers the money to be a loan advance.

Hire American Bancshares For Their Reverse Mortgage in California

When you’re ready to purchase your desired property and need assistance from a qualified California mortgage lender, pick up the phone and call the experts over at American Bancshares. American Bancshares has been trusted by numerous clients for not only their professionalism and expertise but also for their devotion to helping you become a part of a better community. You can trust that with our deep knowledge and handiwork, you’ll become absolutely satisfied with our services. For any inquiries, you may call us at 1-833-937-2276 or sign up for a free consultation online.

Our passion for growing communities

Servicing the community is driven by our core values of commitment, integrity, and transparency. Many of our team members and most of our senior management have sat in every chair of the mortgage industry, providing us with a full understanding of the business from all aspects. This in-depth knowledge is what allows us to quickly and efficiently adapt to industry change, while constantly providing you with superior processes and first-in-class customer service.

We have leveraged technology to bring you a simple, straightforward, online stress-free mortgage application experience.

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