Reverse Mortgage Information


Spruce It Up! City of Corona Redevelopment Agency Loans & Grants

Last week I met with the Corona Redevelopment Agency to learn more about their Home Improvement Program.  This is a useful program for folks who live within the city limits and want to fix up their single family or mobile home, but just can’t afford to.  You must be within certain income limits to qualify. (In this economy that could be you!)  Check out the links within my post for more information.  With spring coming this could be just the thing to help you spruce up your home, and help improve it’s value and perk up your neighborhood!

Senior homeowners living on a fixed income and other homeowners within the city limits of Corona may qualify for a grant or loan fromt the Corona Redevelopment Agency.

Loans available to very-low to median income homeowners in the form of a silent second loan with no monthly payments at 0% interest for up to $40,000.00.  Mobile home owners may receive a loan for up to $15,000.  

Grants up to $10,000 are offered to very-low income single-family and mobile home owners to complete minor home repairs.

Eligible Improvements

  • Heating & Air Conditioning
  • Exterior or interior paint
  • Water heater replacement
  • Plumbing, electrical
  • Mobile home re-leveling
  • Accessibility improvements
  • Termite repair
  • Roofing

Contact Redevelopment Agency of the City of Corona Redevelopment Agency (951) 736-2260




By Deborah Nance


Your Local Southern California Reverse Mortgage Professional

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Equal Housing Lender

iReverse Home Loans, LLC, NMLS#810502 originates reverse mortgages in Alabama, Alaska, Arizona (MB-0919584), California, Colorado, Connecticut, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon (ML-5378), Pennsylvania, South Dakota, Tennessee, Texas, Utah, Vermont (1164-MB), Virginia, Washington and Wisconsin. 

Important Information: Reverse Mortgages are neither "endorsed" nor "approved" by the Federal Government. The FHA (Federal Housing Administration) provides certain insurance benefits for lenders and borrowers in connection with the lender’s HECM loans; the FHA does not make or originate loans. The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage loan to become due immediately. A reverse mortgage is a complex loan secured by your home. Whether such mortgage makes sense for you depends on your financial situation and needs. For these reasons, we strongly recommend that you consult with a qualified independent housing counselor, family members and other trusted advisers before making this decision. This website is not from HUD or FHA and was not approved by HUD or any government agency.

Comment balloon 0 commentsDeborah Nance • February 16 2011 02:04PM


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