Ken Terrill - An acknowledged Reverse Mortgage Expert.
A HUD and VA approved Lender.
Home Office - San Diego, Ca.
Ph: 800-686-0238 or 619-756-3205
Serving all of San Diego County
A. All applicants must be 62 or older.
B. Credit History is not a factor in loan approval.
C. Your benefit is determined by the value of your home and your actuarial life expectancy. Once the loan is funded your benefit is guaranteed for life, no matter how long you live.
D. You do not have to own your home "free and clear".
E. Your income is not a factor in your approval.
F. Property must be in lendable condition. In California this is seldom an issue.
F. Existing Mortgages - Back Taxes - Other Liens and Consumer debt can be paid from the loan proceeds.
G. Benefit options include Monthly Income, A Lump Sum of Cash at closing, A Line of Credit or a combination of the above.
H. A Pest Control Inspection and Clearance is sometimes required.
I. You retain control of your property. You can sell your home or pay off your reverse mortgage at any time. You or your Estate will retain any equity remaining in the property.
J. You can not outlive a Reverse Mortgage. Your benefit is guaranteed for as long as you live.
K. You must obtain a Counseling Certificate from an independent 3rd party before applying. H.U.D. & F.H.A. want you to understand the process before you apply. This is also a fraud prevention measure. HUD/FHA does not want Senior Citizens to be taken advantage of by Con Men. We are able to assist you in obtaining the required counseling which can be done by telephone or in person.
L. There are 3 types of Reverse Mortgage. FHA insured, Fannie Mae Conforming and "Jumbo" We provide all three.
M. There are no "Application Fees" on a Reverse Mortgage. If you are asked for money up front by any lender be very wary.
N. Most owner occupied properties qualify including: Single Family Detached, Condo's, Town Homes, Manufactured on permanent foundations sited on land you own, Duplex, tri-plex and 4-plex as long as you occupy 1 unit.
For Information: Call Ken Terrill - 800-686-0238
619-756-3205 . Weekends and evenings I can be reached at 800-811-2738 toll free or 619-299-3863 which ring to my home.
Serving Senior Citizens since 1994.
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