California Reverse Mortgage

In California, in particular, there is a high demand for reverse mortgage information. This is because over 2 million seniors in California alone could benefit from a reverse mortgage. That doesn�t mean the product is right for all 2 million, but it should be an understood option in all cases. Moreover, reverse mortgage education needs to continue, because there will be approximately 6.4 million Californians age 65 or over by 2025.

There is a specific California law that provides that reverse mortgages can be paid back in advance without any penalty. This, however, does not bar fees, payments, or other charges that would have otherwise been owed when the reverse mortgage came due.

Please be aware that in California, there is plenty of good reverse mortgage counseling and this is a key piece of the reverse mortgage process.

In general, the California Reverse Mortgage is no different than any other reverse mortgage.