Reverse Mortgages — Sherman Oaks & Surrounding Area
If you're 55 or older and own your home, you may be sitting on a powerful financial resource you haven't tapped yet. No monthly mortgage payments required. Clear, honest guidance from a licensed CA broker with 30 years of experience.
Schedule Your Free Consultation(800) 231-5523
No pressure. No obligation. Just clear answers.
A reverse mortgage is a home loan specifically designed for homeowners 55 and older. Unlike a regular mortgage where you make payments to the bank, a reverse mortgage works the other way: the lender pays you — based on the equity you've built up in your home over the years.
You continue to own your home. You stay on the title. You just no longer have to make a monthly mortgage payment — and you can receive funds as a lump sum, monthly payments, a line of credit, or a combination of all three.
The loan is repaid only when you sell the home, move out permanently, or pass away — at which point your heirs can also choose to pay off the loan and keep the home.
You may be a good candidate if you check these boxes:
You are 55 years of age or older (California allows 55+ for some programs; standard HECM requires 62+)
You own your home, or have significant equity in it
The home is your primary residence
You want to eliminate your monthly mortgage payment
You want to supplement your retirement income
You want to cover medical expenses, home improvements, or help family
You intend to stay in your home for the foreseeable future
Here are four ways a reverse mortgage can improve your retirement:
Free up hundreds or thousands per month by paying off your existing mortgage with the proceeds.
Receive steady monthly payments, a line of credit to draw from, or a lump sum — your choice.
You keep full ownership and the right to live in your home as long as you choose to.
Reverse mortgage funds are typically not considered income, so they are generally not taxable. (Consult your tax advisor.)
Reverse mortgages have a reputation that doesn't always match reality. Here's what you actually need to know:
MYTH
"The bank takes ownership of my home."
FACT
You remain the owner. The home stays in your name — the lender simply has a lien, like any mortgage.
MYTH
"My children will inherit my debt."
FACT
Reverse mortgages are non-recourse loans. Your heirs are never personally liable — they can sell the home, pay the balance, or walk away.
MYTH
"I could be forced out of my home."
FACT
As long as you live in the home, pay property taxes, and maintain insurance, you cannot be forced to leave.
MYTH
"Reverse mortgages are a last resort."
FACT
Many financially comfortable retirees use them strategically to preserve other investments and improve cash flow.
Getting started is easier than you think.
We talk through your situation, your goals, and whether a reverse mortgage makes sense for you. No pressure, no sales pitch — just honest answers. This is completely free.
If it looks like a good fit, we'll run the numbers specific to your home and your equity. You'll see exactly what you qualify for, what it costs, and what you receive — in plain language.
We guide you through every step of the paperwork and process. Most reverse mortgages close in 30–45 days. We're with you the whole way.
Here are the questions we hear most often — answered honestly.
The loan becomes due. Your heirs typically have 12 months to sell the home, refinance it, or pay off the balance. If the home sells for more than the loan balance, your heirs keep the difference.
Yes. You remain the homeowner, which means property taxes, homeowner's insurance, and basic home maintenance are still your responsibility. We'll make sure you understand this upfront.
It depends on your age, your home's appraised value, and current interest rates. Generally, older borrowers with higher-value homes qualify for larger amounts. We'll calculate your exact number in your free consultation.
Reverse mortgage proceeds generally do not affect Social Security or Medicare benefits. However, if you receive Medicaid or SSI, there are rules about how much cash you can have on hand. We'll flag this if it applies to you.
Government-backed reverse mortgages (HECMs) are insured by the FHA and regulated by HUD. All borrowers are also required to complete independent HUD-approved counseling before any loan is finalized — so you'll have a third party reviewing your decision too.
No pressure. No obligation. Just clear answers from a licensed CA broker with 30 years of experience.
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Prefer to call directly? (800) 231-5523 — a real person always answers.
Sherman Oaks, CA 91401
Phone: (800) 231-5523
richard@clearloanone.com
