Reverse Mortgages and Foreclosures: What You Need To Know

Reverse mortgages and foreclosures are two complicated financial processes that can be difficult to understand. If you are facing these issues, it is important to know the basic facts about each so you can make informed decisions.

A reverse mortgage is a loan taken out against your home equity by an elderly homeowner. The loan does not have to be repaid until the borrower passes away or moves out of the home, at which time the full amount of the loan plus interest must be paid back. However, if payments on the loan are not made in a timely manner, foreclosure may result.

Foreclosure occurs when payments on a home mortgage become delinquent and cannot be caught up in order for the homeowner to remain in their property. The lender then has to take control of the property and sell it in order to recoup its losses from non-payment of debt.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FASTER!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706