SBEL is your solution…when a reverse mortgage will allow you to retire in place.

Ray had seen the reverse mortgage commercials on TV. He reached out to the retail reverse mortgage firms he saw advertised, but he was not pleased with the results.

SBEL Solution: Ray was introduced to Henry Munoz of South Bay Equity Lending. Henry put together a plan to refinance Ray’s reverse mortgage and get him the benefits he wanted.

“If you are pressed financially, retired or getting ready to retire, and want a budget you can live with, then you are in a position in which I found myself involved three years ago.”

“Celebrity television commercials bombarded me with the great expectations of a reverse mortgage that promised the moon, paradise and a happy hereafter. I wasn’t looking for any of those things. I merely wanted a program that would allow me to live within my means without stress.”

“That is exactly what I didn’t get. I was short-changed on the amount of cash I would receive, still had my bills plus insurance and property taxes on my home. What a bitter disappointment. One thing became certain – I was through with reverse mortgages.”

“Then I met Henry Munoz, a licensed mortgage loan officer with South Bay Equity Lending. He said that maybe he could get me a better deal. Yeah, and rainbows will be dripping with gold nuggets tomorrow afternoon. However, I had nothing to lose by listening to his spiel.”

“Henry didn’t present me with the usual bait and switch offer. He laid out a play for me to renew my situation with a new reverse mortgage. You could say I saw it as more pie in the sky despite his promises. However if I accepted his offer I could reject it prior to closing of escrow.”

“Boy, oh boy, am I glad I listened to Henry. He not only came through with what he promised but a lot more. When escrow closed I not only got money up front, but another big check to come at the end of my first year. Plus, my home insurance and property taxes will be paid annually as part of the deal.

I was further surprised to learn that I still own my home and I can also leave it to my heirs. It is like a low interest loan. If I become more solvent I’ll be able to pay off the mortgage. Other than that, if I die during the life of the mortgage, my son and his wife can decide whether or not they want to refinance the loan and keep the house in the family.”

“I don’t know about you, but I’m sure glad that I hooked up with Henry and South Bay Equity Lending. Maybe this is just the kind of deal you have been looking for. Anyway, it is worth a try. As they say, nothing ventured, nothing gained.” – Raymond S. – Hemet, California


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