Reverse Mortgage San Diego

Please click here to read my amazing client reviews.

If you have any questions or would like a no-obligation consultation, give me a call today at:

760-334-6155  

I've been serving San Diego County's Reverse Mortgage needs since 2003.

Please browse my website to learn about HUD's HECM (Home Equity Conversion Mortgage).

In my 24 years in the reverse mortgage business I’ve learned that many seniors have postponed or decided not to set up a reverse mortgage because they have been given some misconceptions about them. Read about Reverse Mortgage Misconceptions here to get the facts and contact me today to schedule your no-obligation consultation.

Please click here to learn about Jumbo Reverse Mortgage programs.

• Regular Reverse Mortgages are for homes with values up to $1,000,000
• Jumbo Reverse Mortgages are for homes with values of $1,000,000 to $10,000,000
  
  

Working with Owen:

I'll prepare a "No Obligation Quotation" for you at no cost.

I'm never in a hurry, you can take all the time you want to think about it

I'll come to your home and meet with you at your kitchen table.  I will not expect you to make a decision, this would be what I call a "Get Acquainted & Information Meeting".  I want to make sure that I answer all your questions and that your entire family understand how the Reverse Mortgage Program works.

What is a Reverse Mortgage?

It's a program that's insured by the FHA that enables a senior homeowner (62+) to take a portion of their homes equity to use for anything they need:

• Pay off current mortgage
• Pay off credit cards, car payments & other debts
• Pay for medical expenses
• Pay for part time or full time caregiver
• Upgrade their home to make it senior safe and the nice part is that as long as they stay in their
  home, they never make any mortgage payments.

This is how seniors can use their home to stay in their home.

How would someone get out of a reverse mortgage?

If you have the funds available, you would pay off the reverse mortgage just like any other mortgage.
If you don't have the funds available, they you can
sell the home, and out of the sale proceeds you would pay the reverse mortgage lender what you owe them, and all the remaining money goes to you.

How much money does someone get from a reverse mortgage?

On average a senior borrower (62+) can borrow approximately 35 to 75% of their homes equity. Any mortgage must be paid off with the available reverse mortgage money.
The amount of money that can be borrowed is based on the age of the youngest borrower.

Who can qualify for a reverse mortgage?

Anyone 62 or older for a Regular Reverse Mortgage.

Anyone 55 or older for a Jumbo Reverse Mortgage.

What properties are eligible?

• Single Family Residence
• 2-4 Unit Dwelling
• Condos (If FHA/HUD approved)
• Manufactured Homes (If you own the land and if it's located in a condo association that is FHA/HUD approved.

What happens to my reverse mortgage when I die?

Whoever is in charge of your estate would sell the home and out of the sale proceeds they would pay what is owed to the reverse mortgage lender, and all the remaining money would go to the children or heirs.

Owen services all of San Diego County

I am fully licensed in California to meet your needs:

BRE# 01253295 NMLS# 279015