Reverse Mortgage Basics 2023

Reverse mortgage basics 2023 have been updated. But what are the reverse mortgage basics to begin with?

What is a reverse mortgage, how does a reverse mortgage work, what are the rules for a reverse mortgage and what is the downside of a reverse mortgage are some of the questions that need to be asked and answered first.

I have made a brief video, that covers which people use a reverse mortgage and why along with an introduction to a new product, the second mortgage reverse mortgage, click here to watch a separate video on this new loan, and a brief explanation of the hybrid reverse mortgage for people over the age of 55.

Interest rates are floating down very slowly, however remain high which means lower loan amounts for a reverse mortgage or even can mean being denied a reverse mortgage. It’s important for reverse mortgage applicants to know the hybrid loan may be available in the event of a reverse mortgage loan denial.

Feel free to leave your loan scenario below in the form provided or a comment.

Kind regards,

KW

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This information is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice. These materials are not from HUD or FHA and were not approved by HUD or a government agency.
* There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default.. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.

Kevin Walton

NMLS #245923
Phone: (805) 276-1942
C2 Reverse Mortgage Corporation
12230 El Camino, Suite 100, San Diego, CA 92130


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Kevin Walton, Residential Mortgage Loan Originator, NMLS #245923 // C2 Financial Corporation NMLS #135622 
Kevin Walton, Residential Mortgage Loan Originator, DRE #, 01453270//C2 Financial Corporation DRE#, 01821025 
Corporate: 858-312-4900 // www.c2financialcorp.com/  
[email protected]

Kevin’s cell: 805-276-1942

This licensee is performing acts for which a real estate license is required.  C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025: NMLS # 135622.  Loan approval is not guaranteed and is subject to lender review of information.  Loan is only approved when lender has issued approval in writing.  Specified rates may not be available for all borrowers.  Rate subject to change with market conditions.  C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender.  The services referred to herein are not available to persons located outside the state of California. 

As a broker, C2 Financial Corporation is NOT approved by the FHA or HUD, but C2 Financial Corporation is allowed to originate FHA loans based on their relationships with FHA approved lenders.

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