Reverse Mortgages

The need to Maximize your retirement potential is a bigger challenge than ever in 2022. What’s your vision of the ultimate retirement? Is it the freedom to travel and pursue new adventures? Turning a hobby into a small business? Optimizing your portfolio and investments? Right-sizing to the perfect home with no mortgage payments?

For those over 55 in California seeking Reverse Mortgages with on-demand funds from their Primary Home, maybe with no monthly mortgage payments, Dan Cassel and Trinity Mortgage have several Home Retirement Mortgage Loan Solutions with with no fees. Our years of Lending experience allow us to understand loan documentation and “Custom” Loan Options with retirement equity solutions that are rarely offered by local “Full Service” Banks or Finance Companies.

The most common type of reverse mortgage loan is a Home Equity Conversion Mortgage (HECM). These are the only reverse mortgages insured by the Federal Housing Administration (FHA) and are only available through an FHA-approved lender. An HECM loan could enable you to convert your home equity into a lump-sum payment, monthly payments, a line of credit – or any combination of these. We see many Borrowers not get approved for these or like the terms. We have more realistic Loan solutions, a hybrid, better retirement Mortgage solution, one that combines the benefits of a forward mortgage and a Reverse Mortgage!

You can also use a reverse mortgage to eliminate your monthly mortgage payment. And, when used in conjunction with other assets or income streams, a reverse mortgage can also strengthen your overall retirement portfolio. If you plan to remain in your home during your retirement, choosing a reverse mortgage makes sense. As long as you meet the loan terms – you must continue to pay your property taxes, homeowners’ insurance, any homeowners association dues and maintain the property – you’ll receive funds or cashflow that can greatly improve your retirement lifestyle and allow you to retire better. A reverse mortgage loan allows you to stay in the home you know and love while accessing up to $4 million in equity on high-value properties with a jumbo reverse mortgage.

You can use the cash for whatever you wish. To pay off debts, for home improvements, vacations, medical expenses, and more. One of the best parts is the funds from a reverse mortgage loan are not considered income so they are tax free**.  The proceeds from a reverse mortgage loan are not considered income and are tax free**. ( Always seek Tax Counsel!)