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Damien Bosco
Damien Bosco, Attorney
Category: Real Estate Law
Satisfied Customers: 2563
Experience:  Helping you with your legal questions.
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I am purchasing a townhouse in a PUB community in Inglewood,

Customer Question

I am purchasing a townhouse in a PUB community in Inglewood, CA. When I purchased it in 2012, I did know that the church I was working for would, the next month, retirement me with a monthly amount of $2151 for five years. That five years is ending in Jun 2017. I cant afford to continue living here with monthly income from SS only. I have about $160,000 of equity. I have thought about Reverse Mortgage, Purchase Reverse Mortgage; buying up to 4 units with an FHA loan, going thru a Private Lender. I just don;t know what to do. What would you advise? Thanking you in advance.
Submitted: 9 months ago.
Category: Real Estate Law
Expert:  Damien Bosco replied 9 months ago.

Hello. My name is***** am an attorney. I will review your question and develop a response. We may discuss it too. Does that sound good to you?

Expert:  Damien Bosco replied 9 months ago.

Reverse mortgages are something you enter into if you want to stay in the townhouse. Is that what you want to do? It sounds like you want to move.

Customer: replied 9 months ago.
I think that is what I want to do.
Customer: replied 9 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Damien Bosco replied 9 months ago.

Have you attempted to speak with one of the lenders that handle reverse mortgages? That is the start of it to determine what works fo for you. We can continue to discuss.

Customer: replied 9 months ago.
Talking with a mortgage lender now.
Customer: replied 9 months ago.
I want to cancel my service now. Can not afford any more money now. Thanks
Expert:  Damien Bosco replied 9 months ago.

Sure. Just contact customer service.

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