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North Coast Financial is able to provide refinancing of reverse mortgages for heirs in California. When an heir inherits a property that has a reverse mortgage it must be paid off as reverse mortgage loans are not assumable. Conventional lenders are not able to refinance reverse mortgage loans as the existing name on title is different from the party who is requesting the refinance loan.
North Coast Financial can provide a refinance loan to the estate and then allow the heirs to assume and personally guarantee the loan. Once the loan escrow is complete the name on title will be the heirs, allowing them to refinance with a low-cost conventional mortgage and maintain ownership of the inherited property.
If you have a client in this position and the real estate is located in California please contact North Coast Financial.
North Coast Financial
don@northcoastfinancialinc.com
760-722-2991
2424 Vista Way #202
Oceanside, CA 92054
www.northcoastfinancialinc.com
North Coast Financial can provide a refinance loan to the estate and then allow the heirs to assume and personally guarantee the loan. Once the loan escrow is complete the name on title will be the heirs, allowing them to refinance with a low-cost conventional mortgage and maintain ownership of the inherited property.
If you have a client in this position and the real estate is located in California please contact North Coast Financial.
North Coast Financial
don@northcoastfinancialinc.com
760-722-2991
2424 Vista Way #202
Oceanside, CA 92054
www.northcoastfinancialinc.com
