Your Hometown Reverse Mortgage Consultant based in Las Vegas, Henderson, Boulder City, and Mesquite, NV
Your Hometown Reverse Mortgage Consultant based in Las Vegas, Henderson, Boulder City, and Mesquite,
NV
Licensed in AZ, CA, CO, FL, ID, MT, NV, OR, TN, WA
Cory Carstens
Your Hometown Reverse Mortgage Consultant based in Las Vegas, Henderson, Boulder City, and Mesquite, NV
Your Hometown Reverse Mortgage Consultant based in Las Vegas, Henderson, Boulder City, and Mesquite,
NV
Licensed in AZ, CA, CO, FL, ID, MT, NV, OR, TN, WA
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 Las Vegas, NV.
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
Based on data compiled by Clever, the average retiree's savings took a dip in 2023, dropping to $170,726 from $191,695 the year prior. Planning for retirement is more crucial than ever, but don’t lose hope! Consider the power of a reverse mortgage to unlock your home equity to bolster your savings and enjoy a more comfortable retirement. #reversemortgage #retirementsavings #Longbridge #retirementplanning https://listwithclever.com/research/personal-finance-statistics/#key-stats
What Does a Reverse Mortgage Mean to Your Inheritance?
From managing the work-home balance to caring for family members and aging parents, today's Gen Xers have a lot on their plate. If monthly bills and healthcare costs are becoming a struggle for aging parents, leveraging their home equity with a reverse mortgage could be a smart solution. But what does that mean in terms of inheritance? Learn more in the article below.
Did you know that with a reverse mortgage, you can opt to choose how you receive your loan proceeds? One of these options is a line of credit that grows over time. With this disbursement method, you can draw against the credit line as you choose over the duration of the loan. It’s just another way that a reverse mortgage can provide you with the financial freedom and flexibility you deserve. Learn more: online.flippingbook.com/view/234090874 #retirement #reversemortgage #HECM #mortgage #homepurchase #lineofcredit
October is Long-Term Care Planning Month: Do You Have a Plan in Place?
October is Long-Term Care Planning Month! Long-term care can be an essential part of maintaining a high quality of life as you age – and having the right finances in place is essential. Read our blog to learn more! #LongTermCarePlanningMonth #LongTermCare #blog #Longbridge
Based on data compiled by Clever, the average retiree's savings took a dip in 2023, dropping to $170,726 from $191,695 the year prior. Planning for retirement is more crucial than ever, but don’t lose hope! Consider the power of a reverse mortgage to unlock your home equity to bolster your savings and enjoy a more comfortable retirement. #reversemortgage #retirementsavings #Longbridge #retirementplanning https://listwithclever.com/research/personal-finance-statistics/#key-stats
What Does a Reverse Mortgage Mean to Your Inheritance?
From managing the work-home balance to caring for family members and aging parents, today's Gen Xers have a lot on their plate. If monthly bills and healthcare costs are becoming a struggle for aging parents, leveraging their home equity with a reverse mortgage could be a smart solution. But what does that mean in terms of inheritance? Learn more in the article below.
Did you know that with a reverse mortgage, you can opt to choose how you receive your loan proceeds? One of these options is a line of credit that grows over time. With this disbursement method, you can draw against the credit line as you choose over the duration of the loan. It’s just another way that a reverse mortgage can provide you with the financial freedom and flexibility you deserve. Learn more: online.flippingbook.com/view/234090874 #retirement #reversemortgage #HECM #mortgage #homepurchase #lineofcredit
October is Long-Term Care Planning Month: Do You Have a Plan in Place?
October is Long-Term Care Planning Month! Long-term care can be an essential part of maintaining a high quality of life as you age – and having the right finances in place is essential. Read our blog to learn more! #LongTermCarePlanningMonth #LongTermCare #blog #Longbridge
About Me
Hello, my name is Cory, your Reverse Mortgage Professional. I am honored to be working with the senior community in Las Vegas, NV. 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 Las Vegas area. I bring an in-depth understanding of the reverse mortgage process and how the loan works.
Arizona Mortgage Banker License #0930082. 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: 8275 South Eastern Avenue Office 200 Space 252, Las Vegas, NV 89123; Branch NMLS #: 1616482; Phone #: 775-297-8755