Your Hometown Reverse Mortgage Consultant residing in Bothell, WA
Your Hometown Reverse Mortgage Consultant residing in Bothell,
WA
Licensed in Washington
Ruth Gillis
Your Hometown Reverse Mortgage Consultant residing in Bothell, WA
Your Hometown Reverse Mortgage Consultant residing in Bothell,
WA
Licensed in 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 you.
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.
Let’s Get Social
Did you know a reverse mortgage can be used to help your clients buy a new home? 🏡💡 Reverse for Purchase financing allows seniors ages 62 and above to purchase a new home using proceeds from a reverse mortgage. This innovative homebuying solution gives your clients the ability to “right-size” to a new home based on their individual goals and lifestyle—without compromising their financial security. Whether it’s downsizing, relocating closer to family, or finding a more accessible home, older adults can utilize Reverse for Purchase to make a move that truly works for them. 🤝 Connect with me to learn more! #ReverseForPurchase #HomeEquity #RetirementPlanning #ReverseMortgage #Longbridge #LongbridgeFinancial
These Retirement Expenses are No Joke: See What Costs Surprise People the Most
Retirement may be fun… but some expenses are no joke! From rising healthcare costs to home maintenance and everyday living expenses, many retirees are surprised by how certain costs add up once they leave the workforce. The good news? When you understand where the biggest surprises tend to come from, you can plan ahead and stay in control of your finances. Read our latest blog to see which retirement expenses catch people off guard — and how you can prepare for them: https://longbridge-financial.com/blog/reverse-mortgages/these-retirement-expenses-are-no-joke-see-what-costs-surprise-people-the-most/?agent=1 #Retirement #RetirementCosts #RetirementExpenses #CostofLiving #RetirementPlanning #HomeEquity #AgingInPlace #RetirementTips #BabyBoomers #ReverseMortgage #Longbridge #LongbridgeFinancial #PlatinumbyLongbridge #blog
Staying Safe Online: Cybersecurity Tips Every Homeowner Should Know | Longbridge Financial, LLC
Online scams and cybercrime are on the rise—especially those targeting older adults. 💻🔒 Learn simple, practical ways to protect your personal and financial information in our latest blog. Plus, discover how your home equity can support your long-term financial security! Read along for helpful cybersecurity tips: https://longbridge-financial.com/blog/knowledge-and-advice/staying-safe-online-cybersecurity-tips-every-homeowner-should-know/?agent=1 #cybersecurity #OnlineSecurity #SeniorScamAwareness #ElderFraud #FraudPrevention #blog #LongbridgeFinancial #Longbridge #HomeEquity
Sticking to Your Health Goals in the New Year
Ready to make 2025 your healthiest year yet? 🎉💪 We’ve got practical tips and strategies to help you stick to your health goals and achieve lasting wellness. Discover how to stay motivated and make healthy choices all year long. 🔗 Head to our blog to learn more: https://longbridge-financial.com/blog/reverse-mortgages/sticking-to-your-health-goals-in-the-new-year/?agent=1 #NewYearNewYou #HealthGoals #Wellness #HealthyLiving #Motivation #LongbridgeFinancial #Longbridge
⏰ Last chance to register for our next CE webinar! Join David Blanchett, PhD, CFA, CFP®️ on April 29 to discover how key retirement realities can impact your client’s financial plans — and what you can do to build better projections and set more realistic client expectations. Secure your spot today! 🔗https://attendee.gotowebinar.com/register/5567290720048633692?source=LoanOfficer #CEWebinar #CECredit #EarnCECredit #CFP #webinar #Longbridge #LongbridgeFinancial #FinancialPlanning #RetirementPlanning #FinancialAdvisor
Telehealth, Teletherapy, and Your Wallet: How Virtual Health Services Save Seniors Money
Kick off the new year by taking charge of your health—without overextending your budget 💻⚕️ Did you know that you can receive virtual healthcare services right from the comfort of home? With telehealth and teletherapy, you can connect with top providers, save on transportation and copay costs, and address health concerns early to help prevent higher costs down the line. Learn more about how telehealth services are changing the game—and saving your wallet in the process—in our blog: https://longbridge-financial.com/blog/reverse-mortgages/how-virtual-health-services-save-seniors-money/?agent=1 #Telehealth #VirtualHealthcare #SeniorHealth #SeniorFinance #Longbridge #LongbridgeFinancial
Did you know a reverse mortgage can be used to help your clients buy a new home? 🏡💡 Reverse for Purchase financing allows seniors ages 62 and above to purchase a new home using proceeds from a reverse mortgage. This innovative homebuying solution gives your clients the ability to “right-size” to a new home based on their individual goals and lifestyle—without compromising their financial security. Whether it’s downsizing, relocating closer to family, or finding a more accessible home, older adults can utilize Reverse for Purchase to make a move that truly works for them. 🤝 Connect with me to learn more! #ReverseForPurchase #HomeEquity #RetirementPlanning #ReverseMortgage #Longbridge #LongbridgeFinancial
These Retirement Expenses are No Joke: See What Costs Surprise People the Most
Retirement may be fun… but some expenses are no joke! From rising healthcare costs to home maintenance and everyday living expenses, many retirees are surprised by how certain costs add up once they leave the workforce. The good news? When you understand where the biggest surprises tend to come from, you can plan ahead and stay in control of your finances. Read our latest blog to see which retirement expenses catch people off guard — and how you can prepare for them: https://longbridge-financial.com/blog/reverse-mortgages/these-retirement-expenses-are-no-joke-see-what-costs-surprise-people-the-most/?agent=1 #Retirement #RetirementCosts #RetirementExpenses #CostofLiving #RetirementPlanning #HomeEquity #AgingInPlace #RetirementTips #BabyBoomers #ReverseMortgage #Longbridge #LongbridgeFinancial #PlatinumbyLongbridge #blog
Staying Safe Online: Cybersecurity Tips Every Homeowner Should Know | Longbridge Financial, LLC
Online scams and cybercrime are on the rise—especially those targeting older adults. 💻🔒 Learn simple, practical ways to protect your personal and financial information in our latest blog. Plus, discover how your home equity can support your long-term financial security! Read along for helpful cybersecurity tips: https://longbridge-financial.com/blog/knowledge-and-advice/staying-safe-online-cybersecurity-tips-every-homeowner-should-know/?agent=1 #cybersecurity #OnlineSecurity #SeniorScamAwareness #ElderFraud #FraudPrevention #blog #LongbridgeFinancial #Longbridge #HomeEquity
Sticking to Your Health Goals in the New Year
Ready to make 2025 your healthiest year yet? 🎉💪 We’ve got practical tips and strategies to help you stick to your health goals and achieve lasting wellness. Discover how to stay motivated and make healthy choices all year long. 🔗 Head to our blog to learn more: https://longbridge-financial.com/blog/reverse-mortgages/sticking-to-your-health-goals-in-the-new-year/?agent=1 #NewYearNewYou #HealthGoals #Wellness #HealthyLiving #Motivation #LongbridgeFinancial #Longbridge
⏰ Last chance to register for our next CE webinar! Join David Blanchett, PhD, CFA, CFP®️ on April 29 to discover how key retirement realities can impact your client’s financial plans — and what you can do to build better projections and set more realistic client expectations. Secure your spot today! 🔗https://attendee.gotowebinar.com/register/5567290720048633692?source=LoanOfficer #CEWebinar #CECredit #EarnCECredit #CFP #webinar #Longbridge #LongbridgeFinancial #FinancialPlanning #RetirementPlanning #FinancialAdvisor
Telehealth, Teletherapy, and Your Wallet: How Virtual Health Services Save Seniors Money
Kick off the new year by taking charge of your health—without overextending your budget 💻⚕️ Did you know that you can receive virtual healthcare services right from the comfort of home? With telehealth and teletherapy, you can connect with top providers, save on transportation and copay costs, and address health concerns early to help prevent higher costs down the line. Learn more about how telehealth services are changing the game—and saving your wallet in the process—in our blog: https://longbridge-financial.com/blog/reverse-mortgages/how-virtual-health-services-save-seniors-money/?agent=1 #Telehealth #VirtualHealthcare #SeniorHealth #SeniorFinance #Longbridge #LongbridgeFinancial
About Me
Hello, my name is Ruth, your Reverse Mortgage Professional. I am honored to be working with the senior community. I have many 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. I bring an in-depth understanding of the reverse mortgage process and how the loan works.
Branch Address: 22722 29th Drive SE Suite 100, Office 108, Bothell, WA 98021; Branch NMLS #: 2361806; Phone #: 206-201-0410