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Real Reverse Mortgage Stories from BWA Mortgage

We're changing lives!

The Challenge

  • 75 Year old, retired, single woman.
  • Money in the bank (everything) ~ less than $5000.
  • Only income, $1,400 per month in Social Security
  • Still owes a $150,000 mortgage with payments of $850 per month.

OUR Solution

  • We arranged a Reverse Mortgage loan.
  • Paid off her existing mortgage and eliminated that monthly payment.
  • Provided her with an additional $1000 per month disbursement from the new Reverse Mortgage loan.

The Challenge

  • 87 Year old recently widowed gentleman.
  • Money in the bank (everything) ~ $40,000
  • Only income, $1300 per month in Social Security
  • Still owes a $525,000 mortgage with payments of $2,786 per month.
  • Home valued at $1.6M.

OUR Solution

  • We arranged a Fixed Rate Jumbo Reverse Mortgage loan and eliminated his $2,786 monthly mortgage payment.
  • He also received $250,000 in cash that he put in the bank.

The Challenge

  • 66 Year old retired, single woman, taking care of her 90 year old mother.
  • Money in the bank (everything) ~ $3000.
  • Only income $1160 per month Social Security and a little SSI money for her mother.
  • Still owes $230,000 mortgage with payments of $1400 plus HOA payments of $298 per month.
  • Condo valued at $540,000.

OUR Solution

  • We arranged a HECM Reverse Mortgage loan and paid off her existing mortgage.

Moral of these stories? We can help you figure out if you’re eligible for a reverse mortgage and come up with a solution. 

To learn more call us at 818-952-2726 or contact us by clicking here.