For Financial Advisors, CPAs, and Attorneys

A partner you can trust with your clients.

For more than twenty years, referrals have been the heart of my business, first in my own company and now in lending. I know what it means when someone trusts you with a client relationship. My role is to make sure the home and the mortgage support the plan you've built, rather than complicate it.

Reverse Mortgages for Financial Planners

More than a last resort.

Home equity is usually held in reserve as the last resort in a retirement plan, and there's wisdom in that caution. The trouble with last resorts is timing. They tend to be needed in the middle of a market downturn, a health event, or a sudden change in plans, which is rarely the best moment to arrange anything.

A reverse mortgage set up earlier changes that. It can sit in place, unused, until it's needed. Some reverse mortgage lines of credit even grow over time, so the reserve is larger later in retirement than it was on day one. Then, in a down year, a client has somewhere to draw from besides the portfolio, giving investments time to recover instead of being sold at a loss.

It's the same principle any banker knows: the best time to arrange credit is when you don't need it.

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Divorce Mortgage Planning for Attorneys and Mediators

Where the agreement meets the lender.

Too often in divorce lending, a client learns after the settlement is signed that the house can't be refinanced as planned. By then, the options are few, and the agreement may need to be revisited.

Lenders read an agreement differently than the court does. They look at whether the client can qualify, whether support is written so it counts as income, and whether the title and the loan line up.

Those questions are much easier to answer while the terms are still taking shape. Counsel always leads the case. My role is the housing and lending picture, measured through the FAQS: whether each option is Feasible and Affordable, whether the client can Qualify, and whether it is Sustainable.

A settlement is only as strong as the client's ability to carry it out.

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Home Equity and Tax Planning for CPAs

What the numbers reveal.

Few advisors see a client's full financial picture as clearly as a CPA. Year after year, the return shows what's working, and what's starting to strain.

Sometimes that strain traces back to the home. A retiree drawing more from retirement accounts each year to cover expenses. A client still carrying a mortgage payment while cash runs tight. A divorce that will soon divide the largest asset in the household.

Those are the moments when a conversation about home equity can open options the client hasn't considered. The tax advice always stays with the CPA. The home and the mortgage are where I come in.

The earlier a strain is noticed, the more ways there are to relieve it.

Referral Partnerships

Your client relationship stays yours.

Every client you introduce remains your client. You're kept informed at each step, and your guidance comes first. Trust is built slowly and lost quickly, and I treat yours accordingly.

“I've known Julie for over 2 decades and recommend/refer her every time a mortgage need of any type is being sought after.”
Julie

“Julie is professional and did a great job with the refinance of my home along with taking care of several buyer clients.”
David

Frequently Asked Questions

How can a reverse mortgage fit into a retirement income plan?

As a complement to the portfolio, not a replacement for it. A reverse mortgage provides several options, one of which is a line of credit. Set up early, that line of credit can be drawn on in down years, giving investments time to recover, or used to help bridge the years before Social Security begins. With a HECM, the unused portion grows over time, so the reserve is larger when it's most likely to be needed.

What is a Certified Liability Advisor?

A Certified Liability Advisor focuses on the side of the balance sheet that's often managed separately from the rest: what a client owes. That includes how a mortgage is structured, repaid, and coordinated with investments and taxes. Julie Crittenden holds the CLA designation.

What do lenders look for in a divorce settlement?

Lenders look for clear terms they can verify: who keeps the home, how any equity buyout is structured, and how support is documented, including the amount and how long it continues. Vague or open-ended language can keep a client from qualifying, even when the agreement itself is sound.

Do you work with both spouses in a divorce?

When counsel requests it. Julie Crittenden serves as a resource on the housing and lending side and can share the same information with both parties, which helps negotiations move forward on shared facts.

How do you work with a client's CPA?

Openly and early. Loan options and their details are shared with the CPA, who advises the client on the tax side. The goal is one coordinated plan rather than two separate ones.

Will you contact my clients directly?

Only in the way you prefer. Some advisors like joint meetings. Others make an introduction and stay copied on every next step. Either way, you're never left wondering what was discussed.

We Work With Trusted Advisors

A Note To Trusted Advisors

Did you know that both the government-backed Home Equity Conversion Mortgage (HECM) or a private jumbo reverse mortgage for higher-valued properties can be used as an excellent tool for high net worth clients to prevent portfolio depletion? It is a loan that needs to be evaluated based on the client's given scenario. We can provide detailed loan scenarios to you (with your client’s permission) to help reach a decision that is aligned with the interest of all parties. We are upfront with all our clients about the advantages and disadvantages of a reverse mortgage.

Advantages

Reverse mortgages provide many advantages for the senior borrower. Here is a short list of just a few:

• Proceeds received from a reverse mortgage typically do not affect Social Security or Medicare.***
• Provides access to a portion of their home's value without the requirement of monthly mortgage payments. Borrowers must continue to meet ongoing property obligations such as homeowner’s insurance and property tax payments.
• Could allow senior to purchase a new home with no monthly principal and interest mortgage payments.
• Borrowers must keep their property taxes current, keep required homeowner’s insurance in force and the home in good repair.
• Improves a senior’s standard of living or allows them to live out their non-working years with fewer financial worries.
• Pays off existing mortgage freeing up monthly cash flow which would have been committed to ongoing mortgage payments. With the reverse mortgage, there are no more required principal and interest mortgage payments.
• Borrowers are required to live in their home as their primary residence, continue making payments for homeowner’s insurance and property tax charges and maintain the property per HUD requirements.
• Allows the senior to maintain their independence while living in their own home.**
• Provides money for in-home health care or medical expenses.

Disadvantages

• Potential foreclosure of the home if the borrower does not meet the ongoing obligations of the loan such as paying property taxes, homeowner’s insurance or other required property charges, and must maintain the property per HUD requirements.
• Uses equity that could be passed on to the estate or children.
• The loan balance increases and the equity will decrease over time.
• May affect eligibility for needs-based programs such as Medicaid.
• For those itemizing tax deductions, a reverse mortgage can eliminate the deduction for home interest if no interest is paid out of pocket. However, if the homeowner pays the upfront fees and the accruing interest, the homeowner deduction may be available to them in the year the interest is paid.
• There are closing costs and insurance that apply, so borrowers should plan on living in the home for more than a couple of years.
• Home Equity Conversion Mortgages are the only Reverse Mortgages insured by FHA.

Who Should Consider a Reverse Mortgage?

• A parent that has substantial home equity with a limited or fixed income.
• Wants to maintain or improve lifestyle.
• Prefers to access mortgage loan proceeds instead of other accounts or sources which may be taxable.
• Wants to remain in home and age in place utilizing a reverse mortgage.**

^{*Consult your financial advisor.}

^{**You cannot lose your home under normal circumstances and so long as you pay your property taxes, homeowner’s insurance, maintenance costs and otherwise comply with the loan terms.}

^{***It should be noted that any needs-based government benefits could potentially be impacted by a reverse mortgage. Homeowners receiving such benefits should seek qualified professional advice in such circumstances.}