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: 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.
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: 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.
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Featured Video
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
Property Requirements for a Reverse Mortgage
As the saying goes, ""there's no place like home."" And when it comes to retirement years, a home could be even more – a welcomed source of cash flow. A reverse mortgage allows senior homeowners to tap into a portion of their home equity to use as they wish. But like any other loan, there are some requirements that must be met in order to be eligible. Let's start with the most obvious – property requirements for a reverse mortgage.
Reverse Mortgage Occupancy Requirements
When settling into retirement years on a reduced or fixed income, budgeting for home upkeep projects has the potential to become a project of its own. Luckily, with a reverse mortgage, it doesn’t have to be. For those considering tapping into home equity with a reverse mortgage, there are some home occupancy requirements to know. Learn more in the article below.
📢 CE CREDIT OPPORTUNITY 📢 Attention financial advisors! Don't miss our upcoming webinar, “Helping Clients Fund the Rising Costs of Aging in Place.” This session will feature exclusive insights from Kelly Rogers, Certified Gerontologist, who will share strategies for utilizing untapped funding sources effectively to help your clients fund the ever-increasing costs of services, supplies, and care. Secure your spot to earn CE credit! https://attendee.gotowebinar.com/register/1797193974914656856?source=LoanOfficer #Longbridge #webinar #FinancialProfessional #CEcredit #aginginplace
Financial Pros – Earn CE Credit and Advance Your Practice with Aging in Place Solutions! Unlock the secrets to funding aging in place expenses for your clients! Join our upcoming webinar, led by Certified Gerontologist and Head of Aging in Place Partnerships for Longbridge Financial, Kelly Rogers. Discover how your age-qualified clients can use untapped funding sources – like home equity – to pay for the services, supplies, and care they’ll need to age safely in the home they love. Get registered >>> https://attendee.gotowebinar.com/register/1797193974914656856?source=LoanOfficer #Longbridge #webinar #FinancialProfessional #CEcredit #aginginplace
Reverse Mortgage Closing Costs & Fees Explained - Longbridge
When considering a reverse mortgage, traditional mortgage, or any type of financial tool, it's important to have a clear understanding of all the associated costs. From closing costs to lending fees and even applicable interest rates, knowing exactly how much money to bring to the table is key. Check out our article below to learn more about reverse mortgage closing costs & fees.
Property Requirements for a Reverse Mortgage
As the saying goes, ""there's no place like home."" And when it comes to retirement years, a home could be even more – a welcomed source of cash flow. A reverse mortgage allows senior homeowners to tap into a portion of their home equity to use as they wish. But like any other loan, there are some requirements that must be met in order to be eligible. Let's start with the most obvious – property requirements for a reverse mortgage.
Reverse Mortgage Occupancy Requirements
When settling into retirement years on a reduced or fixed income, budgeting for home upkeep projects has the potential to become a project of its own. Luckily, with a reverse mortgage, it doesn’t have to be. For those considering tapping into home equity with a reverse mortgage, there are some home occupancy requirements to know. Learn more in the article below.
📢 CE CREDIT OPPORTUNITY 📢 Attention financial advisors! Don't miss our upcoming webinar, “Helping Clients Fund the Rising Costs of Aging in Place.” This session will feature exclusive insights from Kelly Rogers, Certified Gerontologist, who will share strategies for utilizing untapped funding sources effectively to help your clients fund the ever-increasing costs of services, supplies, and care. Secure your spot to earn CE credit! https://attendee.gotowebinar.com/register/1797193974914656856?source=LoanOfficer #Longbridge #webinar #FinancialProfessional #CEcredit #aginginplace
Financial Pros – Earn CE Credit and Advance Your Practice with Aging in Place Solutions! Unlock the secrets to funding aging in place expenses for your clients! Join our upcoming webinar, led by Certified Gerontologist and Head of Aging in Place Partnerships for Longbridge Financial, Kelly Rogers. Discover how your age-qualified clients can use untapped funding sources – like home equity – to pay for the services, supplies, and care they’ll need to age safely in the home they love. Get registered >>> https://attendee.gotowebinar.com/register/1797193974914656856?source=LoanOfficer #Longbridge #webinar #FinancialProfessional #CEcredit #aginginplace
Reverse Mortgage Closing Costs & Fees Explained - Longbridge
When considering a reverse mortgage, traditional mortgage, or any type of financial tool, it's important to have a clear understanding of all the associated costs. From closing costs to lending fees and even applicable interest rates, knowing exactly how much money to bring to the table is key. Check out our article below to learn more about reverse mortgage closing costs & fees.
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