Security 1 Lending - Reverse Mortgages

Reverse Mortgages - Free Consultation Without Any Obligation. We can talk on the phone or via email or in the comfort of your home. Here are the facts - A Reverse mortgage is a specialized loan for seniors 62 and older. A reverse mortgage allows seniors to access a portion of the equity in their home. Borrowers maintain title and ownership of their home. Proceeds from a reverse mortgage are not subject to personal income taxation,but borrowers should seek tax advice on how proceeds may effect government needs-based programs such as Medicaid and Medi-Cal. It is not a government grant,but a loan that is repaid in the future when the last borrower dies or permanently leaves their residence - A reverse mortgage is eligible only for the borrower's primary or principle residence - HUD counseling (from an independent third party) is required prior to the borrower incurring any costs associated with the loan.