A reverse mortgage is a loan from the U.S. Government for 50% to 75% of the value of a home owned by a homeowner aged 62 and older. Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to the homeowner. The funds from a reverse mortgage are tax-free. The loan doesn't have to be repaid in the homeowner's lifetime, however, when the homeowner dies, the money received plus approximately 4% interest is repaid by their estate. The loan is repaid when the homeowner ceases to occupy the home as a principal residence, due to the homeowner (the last remaining spouse, in cases of couples) passing away, selling the home, or permanently moving out.
San Bernardino California Home Equity Conversion Mortgage - Reverse Mortgage
State:
Multi-State
County:
San Bernardino
Control #:
US-01685BG
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out San Bernardino California Home Equity Conversion Mortgage - Reverse Mortgage?
Creating documents, like San Bernardino Home Equity Conversion Mortgage - Reverse Mortgage, to take care of your legal affairs is a tough and time-consumming task. Many cases require an attorney’s participation, which also makes this task not really affordable. Nevertheless, you can get your legal affairs into your own hands and handle them yourself. US Legal Forms is here to save the day. Our website features more than 85,000 legal forms created for different cases and life circumstances. We ensure each form is compliant with the regulations of each state, so you don’t have to worry about potential legal problems associated with compliance.
If you're already aware of our services and have a subscription with US, you know how straightforward it is to get the San Bernardino Home Equity Conversion Mortgage - Reverse Mortgage form. Go ahead and log in to your account, download the template, and customize it to your needs. Have you lost your form? No worries. You can find it in the My Forms folder in your account - on desktop or mobile.
The onboarding process of new users is just as easy! Here’s what you need to do before downloading San Bernardino Home Equity Conversion Mortgage - Reverse Mortgage:
- Ensure that your form is compliant with your state/county since the rules for creating legal papers may vary from one state another.
- Find out more about the form by previewing it or reading a quick intro. If the San Bernardino Home Equity Conversion Mortgage - Reverse Mortgage isn’t something you were looking for, then use the header to find another one.
- Sign in or register an account to begin utilizing our website and get the document.
- Everything looks great on your end? Hit the Buy now button and select the subscription plan.
- Select the payment gateway and enter your payment information.
- Your form is all set. You can try and download it.
It’s an easy task to find and purchase the needed template with US Legal Forms. Thousands of organizations and individuals are already taking advantage of our rich collection. Subscribe to it now if you want to check what other benefits you can get with US Legal Forms!