Your Hometown Reverse Mortgage Consultant based in Bakersfield, CA
Your Hometown Reverse Mortgage Consultant based in Bakersfield,
CA
Licensed in California, Arizona and Washington
Karen Faulkner
Your Hometown Reverse Mortgage Consultant based in Bakersfield, CA
Your Hometown Reverse Mortgage Consultant based in Bakersfield,
CA
Licensed in California, Arizona and Washington
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 Bakersfield, 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
Reverse for Purchase can transform your business, but it’s still underutilized. Our research with HousingWire shows 41% of real estate and mortgage professionals don’t talk to clients about it because they aren’t familiar enough with this home financing option. We’re here to change that. Get the facts, bust the myths, and help seniors secure the home of their dreams with this powerful financial tool. Access the Report 👉 https://lbfreverse.co/addressing-the-lack-of-understanding-around-reverse-for-purchase #ReverseMortgageMyths #RealEstatePros #MortgagePros #HousingTrends #RetirementPlanning #Longbridge #HousingWire
FINANCIAL PROFESSIONALS >> EARN 2 ETHICS CE CREDITS! Join us December 18 for a special webinar that fulfills the Certified Financial Planner Board of Standards’ required learning objectives for Ethics continuing education. This session has been designed to educate CFP®️ professionals on CFP Board's new Code of Ethics and Standards of Conduct effective October 1, 2019. Don’t wait – register now! https://attendee.gotowebinar.com/register/6950418062703200855?source=LoanOfficer #Longbridge #webinar #CFP #CFPprofessional #Ethics #FinancialProfessional #CEcredit #financialplanning
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.
🚨 New research alert! 🚨 We’ve teamed up with HousingWire to uncover insights into Reverse for Purchase, a game-changing home financing solution for seniors. Did you know only 33% of real estate and mortgage professionals frequently discuss this powerful tool with their clients? Don’t miss out on this growing opportunity—learn how Reverse for Purchase can benefit your business and help seniors get the home they really want. Access the Report 👉 https://www.housingwire.com/addressing-the-lack-of-understanding-around-reverse-for-purchase/?utm_source=partnership&utm_medium=lbf_social&utm_campaign=hw_h4p_gated_content #ReverseForPurchase #ReverseMortgage #RealEstate #MortgageProfessionals #SeniorHomebuyers #Longbridge #HousingWire
Ask the Pros: Using a Reverse Mortgage to Age in Place
Dreaming of aging in place in the home you love? 🏠 Meet Kelly Rogers, Certified Gerontologist and Head of Aging in Place Partnerships at Longbridge Financial. In the latest installment of our "Ask the Pros" blog series, Kelly shares how reverse mortgages can help make aging in place safe and comfortable, without compromising your financial security. Check out our blog to learn more! #Longbridge #LongbridgeFinancial #blog #blogseries #AskthePros #gerontology #aginginplace #ageinplace #reversemortgage #retirement #homeequity
🎓 Financial Professionals Earn CE Credit 🎓 Navigating today’s real estate market can be daunting for your older clients. Reverse mortgage for purchase financing might be the key they need to unlock better housing options. Join Longbridge Purchase & Builder Sales Leader, Rob Cooper, for a complimentary CE webinar and discover how this financial tool can benefit your older clients. Attendee will learn: ✅ Insights on reverse for purchase financing vs. traditional financing ✅ Benefits including seller concessions and non-recourse features ✅ Ways to enhance liquidity and safeguard portfolios while buying a new home ✅ Why older buyers prefer this method to increase their housing choices REGISTER NOW >> https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
Reverse for Purchase can transform your business, but it’s still underutilized. Our research with HousingWire shows 41% of real estate and mortgage professionals don’t talk to clients about it because they aren’t familiar enough with this home financing option. We’re here to change that. Get the facts, bust the myths, and help seniors secure the home of their dreams with this powerful financial tool. Access the Report 👉 https://lbfreverse.co/addressing-the-lack-of-understanding-around-reverse-for-purchase #ReverseMortgageMyths #RealEstatePros #MortgagePros #HousingTrends #RetirementPlanning #Longbridge #HousingWire
FINANCIAL PROFESSIONALS >> EARN 2 ETHICS CE CREDITS! Join us December 18 for a special webinar that fulfills the Certified Financial Planner Board of Standards’ required learning objectives for Ethics continuing education. This session has been designed to educate CFP®️ professionals on CFP Board's new Code of Ethics and Standards of Conduct effective October 1, 2019. Don’t wait – register now! https://attendee.gotowebinar.com/register/6950418062703200855?source=LoanOfficer #Longbridge #webinar #CFP #CFPprofessional #Ethics #FinancialProfessional #CEcredit #financialplanning
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.
🚨 New research alert! 🚨 We’ve teamed up with HousingWire to uncover insights into Reverse for Purchase, a game-changing home financing solution for seniors. Did you know only 33% of real estate and mortgage professionals frequently discuss this powerful tool with their clients? Don’t miss out on this growing opportunity—learn how Reverse for Purchase can benefit your business and help seniors get the home they really want. Access the Report 👉 https://www.housingwire.com/addressing-the-lack-of-understanding-around-reverse-for-purchase/?utm_source=partnership&utm_medium=lbf_social&utm_campaign=hw_h4p_gated_content #ReverseForPurchase #ReverseMortgage #RealEstate #MortgageProfessionals #SeniorHomebuyers #Longbridge #HousingWire
Ask the Pros: Using a Reverse Mortgage to Age in Place
Dreaming of aging in place in the home you love? 🏠 Meet Kelly Rogers, Certified Gerontologist and Head of Aging in Place Partnerships at Longbridge Financial. In the latest installment of our "Ask the Pros" blog series, Kelly shares how reverse mortgages can help make aging in place safe and comfortable, without compromising your financial security. Check out our blog to learn more! #Longbridge #LongbridgeFinancial #blog #blogseries #AskthePros #gerontology #aginginplace #ageinplace #reversemortgage #retirement #homeequity
🎓 Financial Professionals Earn CE Credit 🎓 Navigating today’s real estate market can be daunting for your older clients. Reverse mortgage for purchase financing might be the key they need to unlock better housing options. Join Longbridge Purchase & Builder Sales Leader, Rob Cooper, for a complimentary CE webinar and discover how this financial tool can benefit your older clients. Attendee will learn: ✅ Insights on reverse for purchase financing vs. traditional financing ✅ Benefits including seller concessions and non-recourse features ✅ Ways to enhance liquidity and safeguard portfolios while buying a new home ✅ Why older buyers prefer this method to increase their housing choices REGISTER NOW >> https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
About Me
Karen Faulkner has more than 28 years of combined experience in the Traditional and Reverse Mortgage industries; focusing solely on the Home Equity Conversion Mortgage (HECM) loan market since 2004. She brings an in-depth understanding of the process to her role as a Reverse Mortgage Professional by directly helping hundreds of older Americans retain home ownership and reach their financial and retirement objectives.
Karen has been married to a locomotive engineer, Josh, since 2001. When she is not working, her favorite thing is spending time with family and friends. Her hobbies include exercising, traveling, fishing, and camping. She loves to be anywhere tropical.
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. Branch Address: 336-340 S. Citrus, Covina, CA 91723; Branch NMLS #: 2369412; Phone #: 949-409-4220