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
🌎🌱 Happy Earth Day! Let’s celebrate the place we all call home: our planet. Whether you're planting a tree, reducing waste, or simply enjoying the beauty of nature, every small action makes a big difference. Here’s to creating a greener future together! #EarthDay #OurPowerOurPlanet
🐰 Happy Easter! Did you know that the colorful eggs that have come to be a part of this holiday were originally thought to represent new life and rebirth? Wishing you an egg-stra special and delightful Easter celebration this year! 🐣 #HappyEaster
📅 Tax Day is finally here! Whether you’re a seasoned pro or first-time filer, we’re wishing you a smooth process with happy returns. ✅ And in case you missed it, check out our blog on whether reverse mortgage funds are considered income when it’s time to file: https://longbridge-financial.com/blog/reverse-mortgages/tax-season-are-reverse-mortgage-funds-considered-income/ #TaxDay #Longbridge
✨ Wishing everyone a joyous Passover filled with love, laughter, and cherished traditions. May this special time offer you a chance to celebrate with those you love! #Passover
🚚 FAQ: “What happens if I relocate and leave the house after I obtain a reverse mortgage?” If you permanently relocate, your loan becomes due. However, you have options: you can sell the home to repay the loan, pay it off from other funds, or possibly qualify for a short sale or deed in lieu of foreclosure. Temporary absences longer than two months must be reported to your lender. And if the last borrower or non-borrowing spouse passes away, heirs have similar options to manage the loan and avoid foreclosure. Bringing your heirs into the conversation early can help everyone be prepared for changes down the line. Learn more in our blog: https://longbridge-financial.com/blog/reverse-mortgages/repaying-reverse-mortgages-what-you-need-to-know/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #ReverseMortgage
🍀 Happy St. Patrick’s Day! Originally designated to honor the life of St. Patrick, this holiday is a time to celebrate Irish culture by attending parades, listening to music, and enjoying food and drinks together. #StPatricksDay
🌎🌱 Happy Earth Day! Let’s celebrate the place we all call home: our planet. Whether you're planting a tree, reducing waste, or simply enjoying the beauty of nature, every small action makes a big difference. Here’s to creating a greener future together! #EarthDay #OurPowerOurPlanet
🐰 Happy Easter! Did you know that the colorful eggs that have come to be a part of this holiday were originally thought to represent new life and rebirth? Wishing you an egg-stra special and delightful Easter celebration this year! 🐣 #HappyEaster
📅 Tax Day is finally here! Whether you’re a seasoned pro or first-time filer, we’re wishing you a smooth process with happy returns. ✅ And in case you missed it, check out our blog on whether reverse mortgage funds are considered income when it’s time to file: https://longbridge-financial.com/blog/reverse-mortgages/tax-season-are-reverse-mortgage-funds-considered-income/ #TaxDay #Longbridge
✨ Wishing everyone a joyous Passover filled with love, laughter, and cherished traditions. May this special time offer you a chance to celebrate with those you love! #Passover
🚚 FAQ: “What happens if I relocate and leave the house after I obtain a reverse mortgage?” If you permanently relocate, your loan becomes due. However, you have options: you can sell the home to repay the loan, pay it off from other funds, or possibly qualify for a short sale or deed in lieu of foreclosure. Temporary absences longer than two months must be reported to your lender. And if the last borrower or non-borrowing spouse passes away, heirs have similar options to manage the loan and avoid foreclosure. Bringing your heirs into the conversation early can help everyone be prepared for changes down the line. Learn more in our blog: https://longbridge-financial.com/blog/reverse-mortgages/repaying-reverse-mortgages-what-you-need-to-know/?agent=1 #Longbridge #LongbridgeFinancial #FAQ #ReverseMortgage
🍀 Happy St. Patrick’s Day! Originally designated to honor the life of St. Patrick, this holiday is a time to celebrate Irish culture by attending parades, listening to music, and enjoying food and drinks together. #StPatricksDay
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