Reverse Mortgages Santa Ana
 Reverse mortgages in Santa Ana are being used by seniors for a variety of purposes. If
the senior has a mortgage on their home, they may still qualify for a reverse
mortgage that could pay off their existing mortgage. Since a reverse mortgage requires
no monthly payments, the seniors will be able to rid themselves of a burdensome
mortgage payment for as long as choose live in their home.Tenure Reverse Mortgage in Santa Ana
Some Santa Ana seniors use reverse mortgages to provide them with a monthly
stream of income. The Tenure option offers the homeowner a monthly sum that is
guaranteed for as long as they have the reverse mortgage. Many Santa Ana
seniors, who choose the Tenure option, are able to stay in their home for the
rest of their lives, payment-free, simply by keeping their reverse mortgage in
place.
Line of Credit Reverse Mortgage
Others seniors who live in Santa Ana,
may opt for the reverse mortgage line of credit which offers them the security
of knowing that an immediate sum of money is available to drawn upon for any
purpose. A line of credit may help them sleep better at night knowing that,
should they need a new roof, a new car or expensive dental work, the money is
readily available.
Lump Sum Reverse Mortgage
A lump sum of money, that can be used
for any purpose, is also available through a reverse mortgage to seniors in the
Santa Ana area. The amount of money available, for both the lump sum and the
options above, is determined by the value of the home, age of the senior
homeowner and how much (if any) that they currently owe on their home.
Santa Ana Home Values
The home values in Santa Ana have experienced a tremendous amount of price appreciation, making them some of the
more valuable real estate in the Orange County area. Though the resiliency of
those prices is now being tested by the current market downturn, Santa Ana
enjoys a large number of employers and is located in close proximity to other
major employment centers such as Los Angeles. These facts bolster the long term
demand for homes in the area and help to keep prices up, and in turn, the amount
of money available from a reverse mortgage.
Santa Ana Information
Santa Ana is the county seat for Orange County. As of 2007 it has a population of 353,428, and the highest
population density of any American City that has a population of over 50,000.
The median household income is $43,412.
Call Toll Free: 1-866-311-3360 to speak with an Advisor.
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Call Toll Free:
1-866-311-3360
to speak with an Advisor
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