Your Hometown Reverse Mortgage Consultant based in San Francisco Bay Area, CA
Your Hometown Reverse Mortgage Consultant based in San Francisco Bay Area,
CA
Jack Litzelfelner
Your Hometown Reverse Mortgage Consultant based in San Francisco Bay Area, CA
Your Hometown Reverse Mortgage Consultant based in San Francisco Bay Area,
CA
I’m proud to work with a company focused on one thing: educating seniors about reverse mortgage 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 Northern California.
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
Feast on Savings: Your Guide to a Budget-Friendly Thanksgiving
Thanksgiving should be about giving thanks with your loved ones, not stressing about your budget. With a little planning and smart shopping, you can savor both the feast and the savings. Check out our #blog for money-saving tips ahead of Turkey Day!
From all of us at Longbridge Financial, we sincerely thank all Veterans for their service to our country. #VeteransDay
Leveraging Home Appreciation: How Higher Values Affect Reverse Mortgages
Considering refinancing? If you’ve noticed your home’s value has increased, you could be eligible to access even more equity! 🏡💸 If you’re a reverse mortgage holder or considering one, increased home values can impact how much equity you can tap into. Now could be the perfect time to explore your options—whether that means refinancing or taking the leap for the first time. Learn more about how home values influence your reverse mortgage in our blog! #LongbrigeFinancial #Longbridge #refinance #homeequity #reversemortgage #blog
Daylight saving time ends Sunday, so don’t forget to “fall” back by moving your clocks back an hour (unless you reside in Arizona or Hawaii). #DaylightSavin
Happy Halloween from all of us at Longbridge Financial!
Refinance Your Forward Mortgage? Or Pay It Off With a Reverse Mortgage?
While homeowners have traditionally turned to refinancing to decrease their monthly mortgage payments to a more manageable amount, the reality is that it's not the only option. For those spending more than they'd like on monthly mortgage payments, a reverse mortgage can help – and eliminate these payments altogether. Learn more in the article below.
Feast on Savings: Your Guide to a Budget-Friendly Thanksgiving
Thanksgiving should be about giving thanks with your loved ones, not stressing about your budget. With a little planning and smart shopping, you can savor both the feast and the savings. Check out our #blog for money-saving tips ahead of Turkey Day!
From all of us at Longbridge Financial, we sincerely thank all Veterans for their service to our country. #VeteransDay
Leveraging Home Appreciation: How Higher Values Affect Reverse Mortgages
Considering refinancing? If you’ve noticed your home’s value has increased, you could be eligible to access even more equity! 🏡💸 If you’re a reverse mortgage holder or considering one, increased home values can impact how much equity you can tap into. Now could be the perfect time to explore your options—whether that means refinancing or taking the leap for the first time. Learn more about how home values influence your reverse mortgage in our blog! #LongbrigeFinancial #Longbridge #refinance #homeequity #reversemortgage #blog
Daylight saving time ends Sunday, so don’t forget to “fall” back by moving your clocks back an hour (unless you reside in Arizona or Hawaii). #DaylightSavin
Happy Halloween from all of us at Longbridge Financial!
Refinance Your Forward Mortgage? Or Pay It Off With a Reverse Mortgage?
While homeowners have traditionally turned to refinancing to decrease their monthly mortgage payments to a more manageable amount, the reality is that it's not the only option. For those spending more than they'd like on monthly mortgage payments, a reverse mortgage can help – and eliminate these payments altogether. Learn more in the article below.
About Me
Hello, my name is Jack, your Reverse Mortgage Professional. I am honored to be working with the senior communities in Northern California. 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 Bay 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. Branch Address: 500 Capitol Mall Office Number 2342, Sacramento, CA 95814; Branch NMLS #: 2334385; Phone #: 573-979-0453