Your Hometown Reverse Mortgage Consultant based in The Villages and Central Florida, FL
Your Hometown Reverse Mortgage Consultant based in The Villages and Central Florida,
FL
Licensed in Florida
Becky Koehler
Your Hometown Reverse Mortgage Consultant based in The Villages and Central Florida, FL
Your Hometown Reverse Mortgage Consultant based in The Villages and Central Florida,
FL
Licensed in Florida
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.
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
📝 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
💡 FAQ: “Can I still qualify for a reverse mortgage if I have poor credit?” Good news: yes, you may still qualify! Unlike traditional mortgages, reverse mortgages primarily consider the equity in your home, not your credit score. Even with poor credit, as long as you have significant home equity and meet the other qualifications, you could still be eligible. As part of the required reverse mortgage application process, your credit history is reviewed, but only to ensure you can keep up with your loan obligations like property taxes, insurance, and maintenance – not to disqualify you based on credit history alone. Learn more in our blog! https://longbridge-financial.com/blog/reverse-mortgages/can-you-get-a-reverse-mortgage-with-bad-credit/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #HomeEquity #ReverseMortgage #HomeEquity
🏡FAQ: “How much home equity do I need for a reverse mortgage?” Generally, you should have at least 50% equity in your home’s value to qualify. The more equity you have, the more funds you could receive from a reverse mortgage. This can be a great way to supplement your retirement income, cover healthcare expenses, or make home improvements. Learn more in our blog: https://longbridge-financial.com/blog/reverse-mortgages/borrower-responsibilities-eligibilities/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #HomeEquity #RetirementPlanning #HomeEquity
National Family Caregivers Month: Recognizing Unsung Heroes
November is National Family Caregivers Month, a time to express our gratitude for caregivers' incredible sacrifices and dedication. Learn how to show your support and help ensure they have the resources they need to continue their vital work in our blog! #NationalFamilyCaregiversMonth #blog #Longbridge
Reverse Mortgage Counseling: What to Expect
Before formally submitted an application for a reverse mortgage, borrowers are required to meet with an independent third-party counselor approved by the US Department of Housing and Urban Development (HUD) to discuss the responsibilities that come with a reverse mortgage. Check out our article on everything to expect from reverse mortgage counseling – before, during, and after.
Ask the Pros: Show Me The Money
Curious about how much money you can access with a reverse mortgage? 💰 George Blackmore, Senior Reverse Mortgage Consultant at Longbridge, shares insights into what factors play a role in determining your funds and how you can tailor them to your financial goals. Don’t miss this in-depth Q&A! #reversemortgage #Longbridge #LongbridgeFinancial #retirement #AskthePros #blog #blogseries
📝 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
💡 FAQ: “Can I still qualify for a reverse mortgage if I have poor credit?” Good news: yes, you may still qualify! Unlike traditional mortgages, reverse mortgages primarily consider the equity in your home, not your credit score. Even with poor credit, as long as you have significant home equity and meet the other qualifications, you could still be eligible. As part of the required reverse mortgage application process, your credit history is reviewed, but only to ensure you can keep up with your loan obligations like property taxes, insurance, and maintenance – not to disqualify you based on credit history alone. Learn more in our blog! https://longbridge-financial.com/blog/reverse-mortgages/can-you-get-a-reverse-mortgage-with-bad-credit/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #HomeEquity #ReverseMortgage #HomeEquity
🏡FAQ: “How much home equity do I need for a reverse mortgage?” Generally, you should have at least 50% equity in your home’s value to qualify. The more equity you have, the more funds you could receive from a reverse mortgage. This can be a great way to supplement your retirement income, cover healthcare expenses, or make home improvements. Learn more in our blog: https://longbridge-financial.com/blog/reverse-mortgages/borrower-responsibilities-eligibilities/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #HomeEquity #RetirementPlanning #HomeEquity
National Family Caregivers Month: Recognizing Unsung Heroes
November is National Family Caregivers Month, a time to express our gratitude for caregivers' incredible sacrifices and dedication. Learn how to show your support and help ensure they have the resources they need to continue their vital work in our blog! #NationalFamilyCaregiversMonth #blog #Longbridge
Reverse Mortgage Counseling: What to Expect
Before formally submitted an application for a reverse mortgage, borrowers are required to meet with an independent third-party counselor approved by the US Department of Housing and Urban Development (HUD) to discuss the responsibilities that come with a reverse mortgage. Check out our article on everything to expect from reverse mortgage counseling – before, during, and after.
Ask the Pros: Show Me The Money
Curious about how much money you can access with a reverse mortgage? 💰 George Blackmore, Senior Reverse Mortgage Consultant at Longbridge, shares insights into what factors play a role in determining your funds and how you can tailor them to your financial goals. Don’t miss this in-depth Q&A! #reversemortgage #Longbridge #LongbridgeFinancial #retirement #AskthePros #blog #blogseries
About Me
Hello, I am your local Reverse Mortgage Professional. I am honored to be working with the senior community. I am a Florida native, originally from Jacksonville, I now call The Villages my home. Early in my career I worked in banks and elder law offices. My experience gave me a passion for helping others, so I entered the mortgage space. I\u2019ve spent over four decades in the mortgage industry, specializing in reverse mortgages for over 20 of those years. The most rewarding part of my job is knowing that I have the opportunity to change the lives of everyone I meet. Over the years, I have seen firsthand the relief, joy, and excitement that comes with unlocking the power of home equity. My husband and I opted to buy our home with a reverse mortgage for purchase, which changed our lives for the better.
I am blessed to be married with 4 adult children, 9 grandchildren, and 11 great grandchildren. Outside of work, I enjoy spending time with family and friends. At this juncture in my life, I am blessed with wonderful health and a passion to share my knowledge as a reverse mortgage consultant. Contact me today to get started!
Branch Address: 61 South Paramus Road, Suite 500, Paramus, NJ 07652; Branch NMLS #: 957935; Phone #: 352-208-1145