Reverse Mortgage

What Is a Reverse Mortgage?

A reverse mortgage is a loan available to homeowners 62 years or older that allows you to convert part of the equity in your home into cash. With a reverse mortgage, the bank makes monthly payments to you based on a percentage of your accumulated home equity. Although you will need to continue making property tax and homeowners insurance payments, there are never any mortgage payments, and you may elect to stop receiving the payments at any time.

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A reverse mortgage can make all the difference depending on your circumstances. At UMAX Mortgage, we would be happy to sit down with you and explore which of our reverse mortgage solutions will work just for you. Contact us in California today!