Your Hometown Reverse Mortgage Consultant based in Los Angeles, CA
Your Hometown Reverse Mortgage Consultant based in Los Angeles,
CA
Licensed in California, Washington & Florida
Melanie Parks
Your Hometown Reverse Mortgage Consultant based in Los Angeles, CA
Your Hometown Reverse Mortgage Consultant based in Los Angeles,
CA
Licensed in California, Washington & 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. 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
Understanding Age-Related Technology as an Investment: Where You Can Save or Even Earn
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All you need is love. But a little chocolate now and then doesn’t hurt! Happy Valentine’s Day! #ValentinesDay #Valentine
Smart Tech for Seniors: Gadgets and Tools That Make Aging Easier—and More Affordable
Smart Tech = Smarter Aging 🏠📱 From smart pill dispensers to help you stay on track to the latest thermostats that help you save energy (and $$$), technology is making aging easier—and more affordable—than ever. Discover the latest gadgets and tools designed to simplify daily tasks, improve security, and help you stay connected. 👉 Check out our blog to learn more! #SmartTech #SmartTechnology #SmartTechforSeniors #SeniorTechnology #AginginPlace #Longbridge #LongbridgeFinancial #blog
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
🚨 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
[CFP®️ PROFESSIONALS EARN CE CREDIT] The Social Security Administration’s retirement program has been a fundamental part of American life for more than 88 years. But, despite the age, size, and economic impact of the Social Security system, there are several myths and misunderstandings about what the program is and isn’t. Join former Regional Communications Director for the Social Security Administration, Kurt Czarnowski, for a webinar providing a wealth of information about this complex system. Register now for “Social Security and Retirement Planning: A Hit or Myth Proposition” taking place January 15 – you won’t want to miss it! 📅 https://attendee.gotowebinar.com/register/4823369938606608735?source=LoanOfficer #reversemortgage #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #socialsecurity
Understanding Age-Related Technology as an Investment: Where You Can Save or Even Earn
💡 Tech isn't just for the younger crowd! From smart home gadgets to wearable health trackers, today’s technology can help older adults save money, boost their wellbeing, and even unlock earning opportunities. Plus, the right tech can help make aging in place easier by enhancing the safety and comfort of the home you love. Learn how to make tech work for you in our latest blog! #Longbridge #LongbridgeFinancial #SmartTechnology #TechForSeniors #FinancialWellness #aginginplace #retirement #blog
All you need is love. But a little chocolate now and then doesn’t hurt! Happy Valentine’s Day! #ValentinesDay #Valentine
Smart Tech for Seniors: Gadgets and Tools That Make Aging Easier—and More Affordable
Smart Tech = Smarter Aging 🏠📱 From smart pill dispensers to help you stay on track to the latest thermostats that help you save energy (and $$$), technology is making aging easier—and more affordable—than ever. Discover the latest gadgets and tools designed to simplify daily tasks, improve security, and help you stay connected. 👉 Check out our blog to learn more! #SmartTech #SmartTechnology #SmartTechforSeniors #SeniorTechnology #AginginPlace #Longbridge #LongbridgeFinancial #blog
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
🚨 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
[CFP®️ PROFESSIONALS EARN CE CREDIT] The Social Security Administration’s retirement program has been a fundamental part of American life for more than 88 years. But, despite the age, size, and economic impact of the Social Security system, there are several myths and misunderstandings about what the program is and isn’t. Join former Regional Communications Director for the Social Security Administration, Kurt Czarnowski, for a webinar providing a wealth of information about this complex system. Register now for “Social Security and Retirement Planning: A Hit or Myth Proposition” taking place January 15 – you won’t want to miss it! 📅 https://attendee.gotowebinar.com/register/4823369938606608735?source=LoanOfficer #reversemortgage #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #socialsecurity
About Me
Melanie Parks has been focusing on helping people attain a more financially secure retirement since 2003. Starting out as a Reverse Mortgage Loan Officer, she directly assisted hundreds of senior homeowners to unlock equity in their homes and secure a less stressful retirement. Through her efforts with senior homeowners Melanie quickly became the Top Producing Reverse Mortgage Loan Officer in the San Diego market. She believes that people underestimate the power of financial stability. If you don’t have it, you spend a lot of time worrying and losing sleep because of it. Ultimately, this instability will tear down your wellbeing.
When Melanie isn’t working, she enjoys spending time with her family and friends. Family is the most important thing to Melanie. She has been married to her husband, Jim, since 2002; and the two share a precious daughter, Mahaila, who was born in 2010. Her favorite travel destination is somewhere at the beach, enjoying the sun.