Your Hometown Reverse Mortgage Consultant based in Sacramento, CA
Your Hometown Reverse Mortgage Consultant based in Sacramento,
CA
Christina Acevedo
Your Hometown Reverse Mortgage Consultant based in Sacramento, CA
Your Hometown Reverse Mortgage Consultant based in Sacramento,
CA
I’m proud to work with a company focused on one thing: educating seniors about reverse mortgages to help them unlock the power of their homes and live a more comfortable retirement. I’m a reverse mortgage professional and honored to serve the people of Sacramento, CA.
Your Starting Point to Reverse Mortgages
COMMON MISCONCEPTIONS
MYTH: Taxes have to be paid on money received from a reverse mortgage.
Nope! Proceeds from a reverse mortgage are not considered income, and are therefore not taxable. The money from a reverse mortgage comes from your home’s equity, which already belongs to you, so it’s not considered income. Plus, the interest on a reverse mortgage can be tax-deductible when it’s repaid.
MYTH: Your heirs can’t inherit the home with a reverse mortgage.
Nope! You will still be able to pass the home on to your kids. Just like any other mortgage, they can inherit the house. When the loan becomes due, they can decide how to repay the loan balance.
MYTH: Reverse mortgages should only be used as a last resort.
That’s incorrect! A reverse mortgage is a powerful financial tool that can be an important part of your overall financial plan. From paying off an existing mortgage to delaying Social Security benefits, or even establishing an emergency line of credit, it’s a flexible product that gives you options.
MYTH: A reverse mortgage interferes with Social Security and Medicare benefits.
False! Government entitled programs such as Social Security and Medicare are not affected by a reverse mortgage – however, need-based programs such as Medicaid may be. Consult a qualified financial advisor to learn more.
MYTH: Reverse mortgages are expensive.
Here’s the truth – reverse mortgage loan origination costs and interest rates are comparable to those of traditional mortgages. They do not require large out-of-pocket expenses. There are FHA insurance costs that some traditional mortgages don’t require, but the insurance benefits are well worth the relatively small cost.
MYTH: With a reverse mortgage, the bank takes your home.
That’s false! With a reverse mortgage, the homeowner keeps the title to the home in their name. The lender simply adds a lien onto the title to guarantee that the money will eventually be paid back when the loan becomes due.
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How it Works
For many Americans, their home is their biggest asset, and the one they have invested the most in throughout their lives. And a Home Equity Conversion Mortgage (HECM), or "reverse mortgage," can allow senior homeowners to tap into some of this hard-earned home equity – for another source of cash to help fund retirement, counteract the effects of inflation, and live more comfortably.
Let’s Get Social
Wishing you and your loved ones a happy holiday season! May your hearts be filled with warmth and happiness as you spend time with your loved ones.
At this time of Thanksgiving celebration, our thoughts turn gratefully to you with warm appreciation. Best wishes for a Happy Thanksgiving. #Thanksgiving
👫FAQ: “Do both spouses need to be 62 for a reverse mortgage?” The short answer is no! If one spouse is under 62, they can still be protected as an eligible non-borrowing spouse (NBS). While the younger spouse cannot directly access the loan proceeds, they can stay in the home if the borrowing spouse passes away, so long as they continue to maintain the home and keep up with property taxes and insurance. This ensures that the home remains a secure place for the non-borrowing spouse. Find out more about NBS protections in our blog: https://longbridge-financial.com/blog/reverse-mortgages/is-a-reverse-mortgage-safe-consumer-protections-you-should-know/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #RetirementPlanning #ReverseMortgage #HomeEquity
💰 FAQ: “What does a reverse mortgage mean for my heirs’ inheritance?” While a reverse mortgage does reduce the equity in your home, it doesn’t necessarily eliminate it. After the loan is repaid, any remaining equity belongs to your heirs. They have options: they can keep the house by paying off the loan, sell the house and keep any remaining proceeds after repaying the loan, or deed the house to the lender. Additionally, and sometimes more importantly, using the reverse mortgage for retirement expenses can leave you other savings or investments intact, providing an inheritance for your heirs. You and any heirs can learn more in our “Guide for Heirs” blog: https://longbridge-financial.com/blog/reverse-mortgages/inheriting-a-home-with-a-reverse-mortgage-a-guide-for-heirs/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #EstatePlanning #ReverseMortgage #HomeEquity
📝 FAQ: “How do I apply for a reverse mortgage?” The first step in this journey can be taken right from the comfort of your own home, simply by calling Longbridge Financial. We’ll help you navigate the reverse mortgage solutions available to you so that you can decide which one best meets your unique circumstances. From there, you’ll work with us to complete the application with your personal and home details and then attend a mandatory counseling session with an independent HUD-approved counselor to ensure you understand all aspects of the loan. Learn more about the application process in our blog: https://longbridge-financial.com/blog/reverse-mortgages/the-reverse-mortgage-application-process/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #HomeLoans #ReverseMortgage #HomeEquity
From all of us at Longbridge Financial, we sincerely thank all Veterans for their service to our country. #VeteransDay
Wishing you and your loved ones a happy holiday season! May your hearts be filled with warmth and happiness as you spend time with your loved ones.
At this time of Thanksgiving celebration, our thoughts turn gratefully to you with warm appreciation. Best wishes for a Happy Thanksgiving. #Thanksgiving
👫FAQ: “Do both spouses need to be 62 for a reverse mortgage?” The short answer is no! If one spouse is under 62, they can still be protected as an eligible non-borrowing spouse (NBS). While the younger spouse cannot directly access the loan proceeds, they can stay in the home if the borrowing spouse passes away, so long as they continue to maintain the home and keep up with property taxes and insurance. This ensures that the home remains a secure place for the non-borrowing spouse. Find out more about NBS protections in our blog: https://longbridge-financial.com/blog/reverse-mortgages/is-a-reverse-mortgage-safe-consumer-protections-you-should-know/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #RetirementPlanning #ReverseMortgage #HomeEquity
💰 FAQ: “What does a reverse mortgage mean for my heirs’ inheritance?” While a reverse mortgage does reduce the equity in your home, it doesn’t necessarily eliminate it. After the loan is repaid, any remaining equity belongs to your heirs. They have options: they can keep the house by paying off the loan, sell the house and keep any remaining proceeds after repaying the loan, or deed the house to the lender. Additionally, and sometimes more importantly, using the reverse mortgage for retirement expenses can leave you other savings or investments intact, providing an inheritance for your heirs. You and any heirs can learn more in our “Guide for Heirs” blog: https://longbridge-financial.com/blog/reverse-mortgages/inheriting-a-home-with-a-reverse-mortgage-a-guide-for-heirs/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #EstatePlanning #ReverseMortgage #HomeEquity
📝 FAQ: “How do I apply for a reverse mortgage?” The first step in this journey can be taken right from the comfort of your own home, simply by calling Longbridge Financial. We’ll help you navigate the reverse mortgage solutions available to you so that you can decide which one best meets your unique circumstances. From there, you’ll work with us to complete the application with your personal and home details and then attend a mandatory counseling session with an independent HUD-approved counselor to ensure you understand all aspects of the loan. Learn more about the application process in our blog: https://longbridge-financial.com/blog/reverse-mortgages/the-reverse-mortgage-application-process/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #HomeLoans #ReverseMortgage #HomeEquity
From all of us at Longbridge Financial, we sincerely thank all Veterans for their service to our country. #VeteransDay
About Me
Hello, my name is Christina, your Reverse Mortgage Professional. I am honored to be working with the senior community in Sacramento, CA. I have several years of experience in the reverse mortgage space, focusing on Home Equity Conversion Mortgages. I am committed to helping seniors find better retirement solutions and am excited to bring my honesty, compassion and education to senior homeowners in the Sacramento area. I bring an in-depth understanding of the reverse mortgage process and how the loan works.
Licensed by the California Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; Loans made or arranged pursuant to a California Financing Law license. For California consumers: For information about our privacy practices, please visit https://www.longbridge-financial.com/privacy.
Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees, if applicable, may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property. Branch Address: 500 Capitol Mall Office Number 2342, Sacramento, CA 95814; Branch NMLS #: 2334385; Phone #: 551-400-1022