Your Hometown Reverse Mortgage Consultant residing in Mill Valley, CA
Your Hometown Reverse Mortgage Consultant residing in Mill Valley,
CA
Licensed in California
Mary-Alice Cardenas
Your Hometown Reverse Mortgage Consultant residing in Mill Valley, CA
Your Hometown Reverse Mortgage Consultant residing in Mill Valley,
CA
Licensed in California
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 income 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 generally not affected by a reverse mortgage – however, need-based programs such as Medicaid may be. Consult a qualified financial advisor or the appropriate government agency 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 cost is relatively small.
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, provided they meet their loan obligations, keeping current with property taxes, insurance, and maintenance. 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. Important Note: When you click on this video, certain personal information may be sent to the video provider (such as YouTube, Vimeo, etc.). To learn more about our privacy practices, please review our Privacy Notice.
About Me
My name is Mary-Alice, and I’m passionate about helping retirees achieve greater financial stability and freedom. Unlocking the equity in your home can be a powerful way to enhance your retirement years. I understand that every financial journey is unique—especially when navigating a fixed income. I am here to guide you every step of the way. As a native Californian and the daughter of a geriatric physician, I obtained my bachelor’s degree from UCLA and a master’s in public health from Boston University. My career path for the following 10 years was in nonprofit senior healthcare management. That early exposure and experience in senior care gave me a profound understanding of the importance of aging in place—and the financial challenges that come with it. In 2005, I transitioned to working with seniors in reverse lending. This lead me to serving on the board of Financial Association of San Francisco. Over the past 20 years in the reverse mortgage industry, my commitment to helping retirees tap into their home equity to support independence, security, and a better quality of life has only deepened. I find it incredibly rewarding to work with clients and their families to create solutions that truly make an impact. Outside of work, I enjoy spending time with my 11-year-old son, staying active through outdoor sports, and caring for our beloved cat, Manolo (a proud import from Spain), gardening and looking after our nine backyard hens and bee hives. 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 #: 949-409-4111. For information about our privacy practices, please visit https://www.longbridge-financial.com/privacy.