Your Hometown Reverse Mortgage Consultant based in Houston serving all of Texas, TX
Your Hometown Reverse Mortgage Consultant based in Houston serving all of Texas,
TX
Licensed in TX, CA, FL, GA, & CT
Vicki Cheairs
Your Hometown Reverse Mortgage Consultant based in Houston serving all of Texas, TX
Your Hometown Reverse Mortgage Consultant based in Houston serving all of Texas,
TX
Licensed in TX, CA, FL, GA, & CT
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
Struggling to Make Your Mortgage or Rent Payment? You’re Not Alone–Here Are Your Options
Feeling stretched by housing costs? 🏠💸 You’re not alone! Whether it’s rent or mortgage payments, there are resources and strategies that can help you find some financial relief. Check out our blog for options to help ease the burden and keep your home secure! www.HECMspecialist.com #Longbridge #blog #housing #financialrelief #ReverseMortgage #ReverseMortgageTexas #ReverseTX #HECMspecialist #HECM #CAPS #ReverseMortgageHouston #LineofCredit #Retirement #Retire #ReverseMortgageSpecialist #RetireInStyle #ManageRisk #PortfolioProtection
Did you know that a reverse mortgage can be used to buy a new home? Also called a “HECM for Purchase,” this type of loan helps you accomplish two goals with a single transaction – buying a new home while securing a reverse mortgage. Contact me today to learn more. #retirement #reversemortgage Learn more: online.flippingbook.com/view/234218751 #HECM #mortgage #homepurchase #buyhome
While reverse mortgage proceeds can be used however you wish, one of the top ways we see funds being used is to create a line of credit as a “safety net” for later use if needed. With this strategic use, the reverse mortgage funds are available to you when you need them, but if you don’t use them, they’ll continue to grow in the line of credit as your home appreciates in value. After all, nobody knows what the future may hold – especially when it comes to expenses. Learn more: online.flippingbook.com/view/234090874 #retirement #reversemortgage #HECM #mortgage #homepurchase #lineofcredit
Feast on Savings: Your Guide to a Budget-Friendly Thanksgiving
Thanksgiving should be about giving thanks with your loved ones, not stressing about your budget. With a little planning and smart shopping, you can savor both the feast and the savings. Check out our #blog for money-saving tips ahead of Turkey Day!
When it comes to leveraging the value of a home, a home equity line of credit (HELOC) is probably the most well-known option. However, it’s not necessarily the most appropriate option for older homeowners, ages 62+. A Home Equity Conversion Mortgage Line of Credit (HECM LOC) is designed specifically to help seniors manage their cash flow with more flexibility – most notably, through optional mortgage payments, as long as you continue to pay property taxes, homeowners insurance, and home maintenance expenses. Contact me today to learn more. #retirement #reversemortgage #HECM #mortgage #homepurchase #lineofcredit Learn more: online.flippingbook.com/view/234090874
Whether you’re ready to downsize, upsize, relocate to a low-maintenance home or more convenient community, or even just settle down in that “dream house” you’ve always imagined, a HECM for Purchase could be just the solution to help you get there. Learn more: online.flippingbook.com/view/234218751 #retirement #reversemortgage #HECM #mortgage #homepurchase #buyhome
Struggling to Make Your Mortgage or Rent Payment? You’re Not Alone–Here Are Your Options
Feeling stretched by housing costs? 🏠💸 You’re not alone! Whether it’s rent or mortgage payments, there are resources and strategies that can help you find some financial relief. Check out our blog for options to help ease the burden and keep your home secure! www.HECMspecialist.com #Longbridge #blog #housing #financialrelief #ReverseMortgage #ReverseMortgageTexas #ReverseTX #HECMspecialist #HECM #CAPS #ReverseMortgageHouston #LineofCredit #Retirement #Retire #ReverseMortgageSpecialist #RetireInStyle #ManageRisk #PortfolioProtection
Did you know that a reverse mortgage can be used to buy a new home? Also called a “HECM for Purchase,” this type of loan helps you accomplish two goals with a single transaction – buying a new home while securing a reverse mortgage. Contact me today to learn more. #retirement #reversemortgage Learn more: online.flippingbook.com/view/234218751 #HECM #mortgage #homepurchase #buyhome
While reverse mortgage proceeds can be used however you wish, one of the top ways we see funds being used is to create a line of credit as a “safety net” for later use if needed. With this strategic use, the reverse mortgage funds are available to you when you need them, but if you don’t use them, they’ll continue to grow in the line of credit as your home appreciates in value. After all, nobody knows what the future may hold – especially when it comes to expenses. Learn more: online.flippingbook.com/view/234090874 #retirement #reversemortgage #HECM #mortgage #homepurchase #lineofcredit
Feast on Savings: Your Guide to a Budget-Friendly Thanksgiving
Thanksgiving should be about giving thanks with your loved ones, not stressing about your budget. With a little planning and smart shopping, you can savor both the feast and the savings. Check out our #blog for money-saving tips ahead of Turkey Day!
When it comes to leveraging the value of a home, a home equity line of credit (HELOC) is probably the most well-known option. However, it’s not necessarily the most appropriate option for older homeowners, ages 62+. A Home Equity Conversion Mortgage Line of Credit (HECM LOC) is designed specifically to help seniors manage their cash flow with more flexibility – most notably, through optional mortgage payments, as long as you continue to pay property taxes, homeowners insurance, and home maintenance expenses. Contact me today to learn more. #retirement #reversemortgage #HECM #mortgage #homepurchase #lineofcredit Learn more: online.flippingbook.com/view/234090874
Whether you’re ready to downsize, upsize, relocate to a low-maintenance home or more convenient community, or even just settle down in that “dream house” you’ve always imagined, a HECM for Purchase could be just the solution to help you get there. Learn more: online.flippingbook.com/view/234218751 #retirement #reversemortgage #HECM #mortgage #homepurchase #buyhome
About Me
Hello, I am your local Reverse Mortgage Professional. I am honored to be working with the senior community. I have several 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.
Licensed by the CA Department of Financial Protection and Innovation under the CA Residential Mortgage Lending Act; Loans made or arranged pursuant to a CA Financing Law license. For CA consumers: For info about our privacy practices, please visit https://www.longbridge-financial.com/privacy. Georgia Residential Mortgage Licensee No. #44082; Originator License No. 51550. Texas consumers: For state licensing information, please visit: https://longbridge-financial.com/licensing/texas-state-licensing-information/ Branch Address: 14415 Sugar Mill Circle Houston, TX, 77095; Branch NMLS #: 2446330; Phone #: 346-517-0958