Lock Stock and Barrel Investments
1518 Los Angeles Ave., Unit A,
Simi Valley, CA 93065
805-285-0715, www.lockstockandbarrelinvestments.com
We provide a LEGAL way to turn your firearms into CASH
-- Purchase or Auction -- Come to You -- Get You Top Dollar
Commission on Human Concerns (no fee)
621 Richmons Ave.,
Oxnard, CA 93030
800-655-6230 and 805-486-4725
Provides basic needs assistance, programs geared to meet the needs of low-income Ventura County Residents
Homeowners and Renters Assistance (no fee)
Retired and Senior Volunteer Prog.
Goebel Senior Adult Center
1385 E. Janss Rd., Thousand Oaks, CA 91362
805-381-2742
City of Thousand Oaks - Housing Assistance Program for Seniors (HAPS)
City of Thousand Oaks Finance Department
2100 Thousand Oaks Blvd, Thousand Oaks CA 91362
www.toaks.org
Catholic Charities
80 E. Hillcrest Dr. Suite 120,
Thousand Oaks, CA 91360
805-496-1113
Emergency financial assistance, temporary aid
When you call these services - mention that you found their name on our website - Please help us to strengthen our network and continue to HELP OUR SENIORS in finding reliable "no-scam" services and products in the local area!!
About Reverse Mortgages
A reverse mortgage enables older homeowners (62+) to convert part of the equity in their homes into tax-free income without having to sell the home, give up title, or take on a new monthly mortgage payment. The reverse mortgage is aptly named because the payment stream is “reversed.” Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you. Below are some common questions asked by consumers about reverse mortgages.
How Much Money Can I Get?
The amount of funds you are eligible to receive depends on your age (or the age of the youngest spouse in the case of couples), the appraised home value, interest rates, and in the case of the government program, the lending limit in your area. In general, the older you are and the more valuable your home (and the less you owe on your home), the more money you can get.
Does My Home Qualify?
Eligible property types include single-family homes, 2-4 unit properties, manufactured homes (built after June 1976), condominiums, and townhouses. In general, cooperative housing is ineligible. However, some lenders have developed private programs that lend on co-ops in New York.
What are My Payment Plan Options?
You can choose to receive the money from a reverse mortgage all at once as a lump sum, fixed monthly payments either for a set term or for as long as you live in the home, as a line of credit, or a combination of these. The most popular option – chosen by more than 60 percent of borrowers – is the line of credit, which allows you to draw on the loan proceeds at any time.
How Can I Use the Proceeds from a Reverse Mortgage?
The proceeds from a reverse mortgage can be used for anything, whether its to supplement retirement income to cover daily living expenses, repair or modify your home (i.e., widening halls or installing a ramp), pay for health care, pay off existing debts, buy a new car or take a "dream" vacation, cover property taxes, and prevent foreclosure.
How Does the Interest Work on a Reverse Mortgage?
With a reverse mortgage, you are charged interest only on the proceeds that you receive. Most reverse mortgages charge a variable interest rate (although fixed rate products are entering the marketplace) that is tied to an index, such as the 1-Yr. Treasury Bill, plus a margin that typically adds an additional one to three percentage points onto the rate you're charged. Interest is not paid out of your available loan proceeds, but instead compounds over the life of the loan until repayment occurs.
Are There Any Special Requirements to Get a Reverse Mortgage?
As long as you own a home, are at least 62, and have enough equity in your home, you can get a reverse mortgage. There are no special income or medical requirements.
