The Millstone Times June 2020

FAMILY MATTERS

CONFUSED ABOUT WHETHER A REVERSE MORTGAGE IS RIGHT FOR YOU? A reverse mortgage has helped hundreds of thousand of senior homeowners enhance their financial situation. The reverse mortgage can often times be a confusing and complex transaction. I have 29 years of experience exclusively in the reverse mortgage industry and pride myself on educating senior homeowners in every aspect of the reverse mortgage so they can make the right decision. I will gladly meet you, and your trusted advisor, in the convenience of your home to discuss how you may benefit from the reverse mortgage.

BANKRUPTCY AND A PANDEMIC As we struggle through this pandemic, many of us have gotten a break. Foreclosures have been delayed, evictions have been delayed, lawsuits have been delayed, and credit card companies have offered to let you skip your payment. Unfortunately all that does is buy you time. Interest is still being added and some day whether it is next month or in 2 or 3 months, you will have to pay. So now we get to the question: If you are struggling with pay- ing your bills why you should meet with a bankruptcy lawyer even if you don’t want to file for bankruptcy? As a bankrupt- cy lawyer my job is more than filing bankruptcy petitions. A bankruptcy lawyer can negotiate credit card debt. A bank- ruptcy lawyer can increase your chances of being accepted for a mortgage modification to avoid foreclosure. A bankruptcy lawyer can defend your lawsuits and settle your debts at a re- duced rate or even dismiss them. A bankruptcy lawyer can obtain an installment plan or a compromise on your taxes. A bankruptcy lawyer can help renegotiate your student loans and even sue those lenders who engaged in predatory lending for you. But the important thing to remember is the longer you wait, the less options you have. Unfortunately, coming to a lawyer when you are facing that sheriff sale or a judgment has already been entered against you may leave you with the only option of filing for bankruptcy. Don’t be afraid. Don’t let the stress cause you to bury your head in the sand. We are here to help. Your consultation to discuss your options is always free. DON'T FACE FORECLOSURE ALONE Fight back and save your home. FREE CASE REVIEW Foreclosure Defense, Loan Modifications, Bankruptcy, Debt Litigation Defense Frances Anne Tomes, Esq.

KEN SAWAN Senior Reverse Mortgage Specialist One International Blvd., Suite 900

Mahwah, NJ 07495 Cell: 330-515-0413 Office: 201-642-4024 NMLS #: 1098456

Longbridge Financial, LLC, is a licensed mortgage lender NMLS #957935 (www.nmlsconsumeraccess.org)

THE TRUTH ABOUT REVERSE MORTGAGES “Someone told me that with a reverse mortgage, the bank takes your home.” Sound familiar? Over the years, there have been several miscon- ceptions about reverse mortgages – one of the most common being that with a reverse mortgage, the bank takes over ownership of your home. However, this is, in fact, just a misconception. The reality is that lend- ers are not in the business of owning homes. They simply add a mortgage onto the title so that the lender can guarantee that the money will even- tually get paid back – either when the loan is paid off or when the last borrower no longer lives in the home. So what does this mean in terms of homeownership? You, as the home- owner, keep the title to the home in your name. It’s just a mortgage. So, isn’t it time you look into what a reverse mortgage actually is? Available to homeowners age 62 and older, a reverse mortgage enables you to access a portion of the equity in your home to use as you wish. The best part? There are no monthly mortgage payments required*. It’s true: If there’s a mortgage on your home, the money from the reverse mort- gage is first used to pay off that loan—and since no monthly mortgage payments are required, you can eliminate that monthly expense and keep more cash to use as you see fit. GET THE FACTS. SCHEDULE A FACE TO FACE MEETING WITH LONGBRIDGE FINANCIAL’S SENIOR REVERSE MORTGAGE SPECIALIST, KEN SAWAN NMLS #1098567 TODAY BY CALLING (330) 515-0413. *Borrower must continue to pay property taxes, insurance, and maintenance.

Tomes Law Firm, PC 1 West Main St, 3rd Floor

Freehold, NJ 07728 Tel: (732) 333-0681 WWW.TOMESLAW.COM

32 The Millstone Times

June 2020