Serving California Solano & Napa Counties
I completed my Bank of America certifications for reverse mortgage closings and application signings last year. Since then, I have arranged more than 100 reverse mortgage closings for Bank of America and other financial institutions. I am available to meet with your clients and arrange paperwork for you anytime, 7 days a week – during regular business hours, in the evenings, and on the weekends.
There are few Bank of America certified agents that do reverse mortgage and application signings in the Solano & Napa Counties area.
 Reverse Mortgage
A reverse mortgage (or lifetime mortgage) is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (e.g., into aged care).
In a conventional mortgage the homeowner makes a monthly amortized payment to the lender; after each payment the equity increases within his or her property, and typically after the end of the term (e.g., 30 years) the mortgage has been paid in full and the property is released from the lender. In a reverse mortgage, the home owner makes no payments and all interest is added to the lien on the property. If the owner receives monthly payments, or a bulk payment of the available equity percentage for their age, then the debt on the property increases each month.
If a property has increased in value after a reverse mortgage is taken out, it is possible to acquire a second (or third) reverse mortgage over the increased equity in the home. But in certain countries (including the United States), a reverse mortgage must be the only mortgage on the property.
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