Bitcoin Latinum Announces Presale Launch with Global Partners

Bitcoin Latinum Futuristic City

Bitcoin Latinum The Next Generation of Bitcoin

Bitcoin Latinum Launches To be World’s Largest Insured Cryptocurrency with Backing From Titans of Industry

PALO ALTO, CALIFORNIA, UNITED STATES, November 26, 2020 / — Bitcoin Latinum, the next-generation Bitcoin fork capable of massive transaction volume, digital asset management, cyber security, and capacity is announcing its official pre-sale launch. Bitcoin Latinum will trade under the symbol LTNM with a total supply of 888,888,888 LTNM [verifiable by LTNM].

Bitcoin Latinum is now available for pre-sale on and will be available on exchanges in 2021.

Bitcoin Latinum is an enhanced Bitcoin fork. The Bitcoin Latinum algorithm and infrastructure break barriers and speed limits that have prevented some virtual currencies from achieving practical, real-time use. Bitcoin Latinum taps into the new wave of crypto DeFi — decentralized finance – for its role in independent digital transactions. According to Nasdaq, the total DeFi related cryptocurrency market recently passed $14 billion, up from $1 billion in February 2020.

The Bitcoin Latinum tokens are a part of a blockchain ecosystem being adopted by companies in media, gaming, storage, cloud, and telecommunications. Bitcoin Latinum tokens will be interchangeably used on each of these partner/supplier networks by consumers. In addition, Bitcoin Latinum adds security around inflight transactions and enhanced mining node protection based on memory scanning technology. Furthermore, Bitcoin Latinum looks to reduce the cost of a Bitcoin transaction from dollars to pennies for on-chain transactions and even lower rates for lightning-based transactions.

Marsh & McLennan, one of the world’s leading specialty insurance brokers and risk advisers, has been appointed to arrange a comprehensive insurance program for Bitcoin Latinum. The insurance coverage, to be arranged by Marsh Asia, will protect Bitcoin Latinum holders in case of external theft and internal collusion, potentially up to the full value of their holdings. This contemplated insurance coverage will make Bitcoin Latinum the world’s largest insured digital asset.

Draper Dragon Fund will be playing a major role with Bitcoin Latinum. Draper Dragon Fund has invested in blockchain companies Telegram, Ledger, Vechain, Ultrain, Aelf and Token Insight. “The partnership with Marsh, Monsoon, and Bitcoin Latinum would further extend our digital asset portfolio,” said Richard Wang, Managing Partner of Dragon Digital Fund. Draper Dragon is an extension of the Draper Venture Network (DVN) backed by billionaire Tim Draper who is often regarded as one of the most successful venture capitalists in the world.

Adopting Bitcoin Latinum is Academy Award winning studio Cross Creek Media. Cross Creek has grossed over $1.7 billion in the worldwide box office. Cross Creek Media, who has long term relationships with Sony Pictures Entertainment and Universal Pictures, most recently expanded its digital assets in film, television, and IP with Monsoon Blockchain & Marsh. Cross Creek has been a co-financier/producer of such films as Oscar winner Black Swan and has been behind hits American Made, Everest, and Hacksaw Ridge. Timmy Thompson, CEO of Cross Creek Media stated, “We are very excited about Bitcoin Latinum and its capabilities as an insured token, as we continue developing award-winning properties. Cross Creek's portfolio of new media technology investments perfectly positions us to take advantage of the digital asset sector in Media and Gaming.”

Bitcoin Latinum has selected Hong Kong's Hex Trust, the leading digital asset custody platform for the banking sector, to be a digital asset custodian for the new token. Built with banks and financial institutions in mind, Hex Trust offers hardware security modules from IBM, and is connected to the SWIFT payment network. Recently, Hex Trust partnered with Milan-based global leader, SIA, which processes over $14 billion in digital payments and over $16 billion in institutional services transactions each year.

The implementation of blockchain and cryptocurrencies in the banking and finance sectors has been steadily increasing in the past two years. JPMorgan Chase ($2.98 Trillion AUM) recently launched a digital currency for large technology clients, and PayPal will now allow its close to 350 million users to purchase and sell major cryptocurrencies, including Bitcoin. The blockchain network Spunta has already been adapted by many of Italy’s banks, and it is being reported that a digital version of the Yuan is being tested by the People’s Bank of China.

Bitcoin’s market cap is nearing $200 billion and makes up approximately 84% of the cryptocurrency market. Bitcoin recently skyrocketed past $18,000 per token, demonstrating a strong bull market. Earlier this year, Gartner stated that blockchain technology will create more than $176 billion worth of business value by 2025, and $3.1 trillion by 2030. There are trillions of dollars in global assets that could potentially be digitized.

The incorporation of Bitcoin and cryptocurrencies into US and Asia cross-border deal flow of digital assets has been increasing exponentially. Monsoon Blockchain, Asia’s premiere blockchain company, will be adapting Bitcoin Latinum in their extensive ecosystem and pipeline of digital asset deals. Monsoon is focused on becoming the company pioneering the adoption of highly secure decentralized asset management. Earlier this year Monsoon Blockchain formed major partnerships in the blockchain and digital asset space with governments, telecom, media and entertainment, and fintech industries.

Any Bitcoin Latinum offered is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation, or be relied upon as personalized investment advice. Bitcoin Latinum strongly recommends you consult a licensed or registered professional before making any investment decision.

Kai Okada
Bitcoin Latinum
+1 8005280985

Source: EIN Presswire

Millcreek Commercial Offers Co-Ownership Model for 1031 Exchange

Co-owning commercial real estate with Millcreek's 1031 Exchange model

Co-owning commercial real estate with Millcreek’s 1031 Exchange model

Millcreek Commercial offers an innovative approach to 1031 Exchange, an effective strategy for deferring capital gains taxes from an investment property sale.

Our clients specify the amount they want to invest and select from a list of available commercial properties. Once finalized, they soon begin receiving monthly direct deposits based on cash flow.”

— Brent Smith

AMERICAN FORK, UTAH, US, November 25, 2020 / — Millcreek Commercial offers an innovative approach to 1031 Exchange, an effective strategy for deferring capital gains taxes from an investment property sale.

By exchanging the property for like-kind real estate, property owners may defer their taxes and use the proceeds to purchase a replacement property. Like-kind real estate includes business/investment property but not the owner’s primary residence.

“Our clients specify the amount they want to invest and select from a list of available properties,” said Brent Smith, co-founder and investor relations partner at Millcreek. “Once finalized, they receive a deed for their portion of ownership of the property. Frequently within the first month, they begin receiving monthly direct deposits based on positive cash flow.”

Why Consider a 1031 Exchange?
Any property owner or investor who expects to acquire replacement property after selling their existing property should consider a 1031 exchange—an effective strategy for deferring capital gains taxes from an investment property sale. To do otherwise would necessitate the payment of capital gain taxes in amounts that can approach 30%. We aim to help investors keep more of their hard-earned money working for them.

“Because of the passive nature of a NNN lease, you won’t have to worry about tenants, trash, and toilets—the typical headaches that come with being a landlord,” said Smith. “Instead, you focus on what you care about most–putting your money to work for you—and not the other way around!

The Millcreek Commercial model allows multiple buyers to co-own high quality commercial real estate through a Tenant-in-Common structure. This gives each investor the freedom to purchase the percentage of the property that best fits their current investment plan—anywhere from one to one hundred percent. No matter the amount of your exchange, Millcreek can cover it down to the penny. Each buyer receives their own deed to the property and benefits from all the income, tax shelters, and appreciation it provides.

Exchange hassle for happiness!
Tenant issues, fixing toilets, and painting walls is hard work. Have you ever considered owning quality commercial real estate? With our passive lease structure, you can leave the headaches of being a landlord behind. Millcreek delivers fully managed properties with better returns than your current real estate investment, giving you more time to do the things you love. Millcreek’s co-ownership model makes it possible for any investor to utilize and 1031 exchange to buy into high quality commercial real estate. Rest assured that our portfolio is rock solid. Millcreek rigorously vets every property offered.

For more details, visit or watch the video at

About Millcreek Commercial
Millcreek Commercial takes the benefits of investing in commercial real estate to the next level with a powerful model that produces monthly passive income, requires zero heavy-lifting, and tax-protects our co-owners. The company helps investors enjoy monthly passive income by co-owning premium commercial real estate that is both recession-resilient and fully-managed. Millcreek offers attractive programs for 1031 Exchange, self-directed IRA (SDIRA), and cash investors. Located in the Salt Lake City metro area, Millcreek Commercial is privately held.

email us here
+1 8013616600
Visit us on social media:

Co-Owning Commercial Real Estate

Source: EIN Presswire

Zein Obagi, Premier Litigation Attorney at Obagi Law Group, PC., Chosen One of L.A.’s 100 Most Fascinating People 2020

Zein Obagi Jr.

“We're honored to include Zein Obagi into our BoLAA family.” ~Aurora DeRose

LOS ANGELES, CA, UNITED STATES, November 25, 2020 / — Zein Obagi Jr., premier employment and business litigation attorney Obagi Law Group, PC., has been chosen by the “Best of Los Angeles Award” community as one of L.A.’s 100 most fascinating people, according to Aurora DeRose, award coordinator for the “Best of Los Angeles Award” community.

“With all of Zein Obagi's incredible achievements in the field of employee and business litigation, it’s easy to see why he has earned a place on L.A.’s 100 Most Fascinating People list” said DeRose.

The “Best of Los Angeles Award” community was formed five years ago and consists of over 7,300 professional members living and working in Southern California. It celebrates the best people, places and things in Los Angeles with a slogan “No Ads. No B.S. Only the Best.”

“The mission of the community is to celebrate the best of Los Angeles, and allow its community members to connect with other members who share the highest standards of quality and integrity,” expresses DeRose. "We're honored to include Zein Obagi into our L.A.’s 100 Most Fascinating List."

With more than a decade of experience as a licensed attorney serving Californians, Zein E. Obagi, Jr. carries a reputation as a game-changing fierce advocate for employees who have fallen victim to hostile employers and for individuals who have lost assets to dishonest business partners. With his combination of experience, passion and willingness to bring the full power of the law to bear for his clients, Zein has built a firm that delivers on its credo to each of its clients. After working for a variety of firms in Los Angeles, including one of the largest and most prestigious in the city, Zein founded what is now Obagi Law Group, P.C. in 2012. In the years since, Zein has built a team of diverse, energetic and highly skilled attorneys who specialize in righting the wrongs of discrimination, unlawful retaliation, wrongful termination and other abuses in the workplace, as well as protecting clients’ interests in the cutthroat world of business in California. With Zein leading the way, the attorneys at Obagi Law Group treat each client as if they were the firm’s only client, delivering time and again and attaining awards at times in the millions of dollars.

While Zein makes social justice and fighting for the little guy hallmarks of his practice, he also lives by the same values he has woven into the fabric of Obagi Law Group. For instance, being raised with six sisters and married to a successful physician, Zein understands that men and women are equal in every way. He continues to advance this belief not only in his practice, but through his work with the Los Angeles County Bar Association (LACBA) — which in July 2020 appointed Zein to the President’s Advisory Committee on Women in the Legal Profession. Among Zein’s other public-service endeavors are a trio of trips to the Katrina-ravaged Gulf Region to supply critical pro bono legal aid as part of the inaugural and two subsequent Legal Aid Alternative Breaks Projects; volunteer work with the Los Angeles 5 (LA5) Chapter of Rotary Club International, and two runs as a candidate for U.S. Congress in California’s 33rd District.

A graduate of UC Berkeley (BA, political science) and the University of Southern California, Gould School of Law (JD), Zein enjoys admission to practice law throughout the State of California; the U.S. District Court for the Central, Southern, Eastern and Northern Districts of California; the Ninth Circuit Courts of Appeals; and the Supreme Court of the United States. Zein also serves as Co-Chair of Programs with the LACBA Small Firm Section, and in 2020 was appointed to a pair of LACBA committees — the President’s Advisory Committee on Women in the Legal Profession and the Judicial Appointments Committee, which responds to requests by the Governor to evaluate individuals under consideration for appointment to the Superior Court of California bench.

Aurora DeRose
Boundless Media Inc.
+1 951-870-0099
email us here

Source: EIN Presswire

The 5 Most Common Questions about Reverse Mortgages

The 5 Most Common Questions about Reverse Mortgages

Paul Scheper, CRMP, CSA, MBA

Your Lender For Life!

Loangevity Mortgage

Paul E. Scheper (CRMP, CSA, MBA) answers the 5 Most Common Questions about Reverse Mortgages

Reverse Mortgages are simple, and not complicated, because of these five words — IT IS JUST A LOAN.”

— Paul E Scheper

COTO DE CAZA, CA, UNITED STATES, November 25, 2020 / — The 5 Most Frequently Asked Questions about Reverse Mortgages
Finally, here are the answers to the 5 most common questions.

At first glance, reverse mortgages might seem a little confusing. The good news is they are not complicated once you know the basics and when you compare them side by side with a traditional mortgage. Quick refresher on the definition of a reverse mortgage — in just five words — It is just a loan.

Here are the most common 5 questions that people ask me all the time.

1. What is a Reverse Mortgage?
In five words or less: It is just a loan.
More specifically, a reverse mortgage is a loan that enables older homeowners, age 62 and older, to convert a portion of their home equity into tax-free cash* without giving up ownership and without being required to make monthly mortgage payments. You will still need to make payments for taxes, insurance and property maintenance. For the right person, at the right time, and for the right reason, a reverse mortgage can, in many cases, help homeowners to never outlive their money and to be more comfortable in retirement.

2. Why do people get reverse mortgages?
Since 1989, when reverse mortgages became federally insured and backed by the government, there have been over 1 Million reverse mortgages originated in the USA. The reason most people are attracted to a reverse mortgage is because it helps them with their number one retirement goal, which is to NOT outlive their money. It helps many homeowners to age in place – to stay in their home possibly for the rest of their lives. Making monthly payments on a mortgage is optional. With a reverse mortgage, the monthly payment can be deferred and paid at the end of loan, instead of every single month. With a reverse mortgage, many people feel a sense of comfort and confidence during their retirement years. Most folks are looking for a feeling of independence and financial freedom. They want to supplement their retirement income by controlling their budget to sustain a comfortable and safe retirement.

3. What is the main thing to I need to know?
The main thing to know about a reverse mortgage is that IT IS JUST A LOAN. It’s almost the same as a traditional loan, but not quite. A reverse mortgage has an age minimum, a property type requirement, an equity eligibility test, and other nuances. It’s also very similar to a traditional home equity line of credit, but with some distinct differences. The main thing to know is that monthly payments are not required and that the homeowner chooses when and how much to pay each month.

4. How do I qualify?
It’s easy to see if you qualify for a reverse mortgage. All you need to provide is your age, property type, and your home equity. With a reverse mortgage, the homeowner has to be at least age 60, and have lots of equity remaining in the home. You will be required to pay off any existing mortgages and make sure you can afford to make your regular property tax, insurance, and association dues (just like is required on all loans).

5. What are the downsides?
The main downside is that not everybody qualifies for a reverse a reverse mortgage. Reverse Mortgages are secure and are designed to provide ample consumer protections. Home safety, financial assessments, counseling sessions, and non-recourse terms help provide further safeguards throughout the process. It was created to help aging homeowners to safely and securely access some (not all) of the unused equity and convert it to spendable cash, in order to live a more comfortable retirement.

Paul E. Scheper, President
+1 800-662-6784
email us here

Source: EIN Presswire

5 Alternatives to a Reverse Mortgage

Reverse Mortgage Expert

Paul Scheper, CRMP, CSA, MBA

Your Lender For Life!

Loangevity Mortgage

Know Your Alternatives

Know your options and your plan before choosing a reverse mortgage. Make sure none of these 5 are a better fit for you.

Know your options and your plan before choosing a reverse mortgage. Make sure none of these 5 are a better fit for you.”

— Paul E Scheper

COTO DE CAZA, CA, UNITED STATES, November 25, 2020 / — People don't plan to fail, but sometimes, they fail to plan. In order to gain financial freedom and financial independence, you need a plan. You must evaluate the 5 alternatives to a reverse mortgage before deciding if a reverse mortgage is RIGHT for you. Reverse Mortgages need to be suitable and appropriate for older homeowners who desire to live in their homes forever. Here are some alternatives to look at before applying for a reverse mortgage.

Alternative #1: Do Nothing at All
Continue living life exactly as you do now without any changes, until you run out of money. You can continue to use up all of your cash reverses in the bank, or you can sell your stock & bonds. Maybe you’re one of the lucky ones and can outlive your money.

Alternative #2: Borrow the Traditional Way
You can get a traditional loan or a regular equity line of credit. You will be required to qualify for and make monthly payments each month. You will be asked for 2 years of tax returns, income qualifying hurdles, equity benchmarks and Fico Score analysis. It's not easy to qualify for a traditional home loan, but it's an alternative that needs to be evaluated.

Alternative #3: Get Money from your Family or Relatives
Borrow from your children, heirs, or relatives. Or, have them contribute each month to your budget shortfall. With a reverse mortgage, you do not need to rely on anybody to be able to make your mortgage payment. However, if you are lucky enough to have children that can help out, then that is a viable alternative. In retirement, expenses continue to rise, but income tends to be flat. Bridging the cash flow shortfall is key for seniors who want to live in their home forever.

Alternative #4: Sell your Home or “Downsize” or "Rightsize"
You can downsize in order to be more comfortable, but hopefully you are lucky enough to stay at home and not outlive your money. How do you put a price tag on the anxiety of leaving your home? A reverse mortgage will help you stay put and keep you close to your friends, shopping centers, medical facilities, church and familiar settings. A reverse mortgage can be used when buying a new home — it's really simple to get a loan to buy a new home.

Alternative #5: Get a Job or Keep Working at your Job
As an alternative to a reverse mortgage, many homeowners elect to re-enter the work force or keep the job they have now. Earning more will allow you to stay at home for a longer period.

My suggestion is to run the numbers with a lender who can offer all of these alternatives, and does not only offer reverse mortgages. Get an unbiased evaluation — have a company like Loangevity or a big bank help you compare if a reverse mortgage is suitable and appropriate for your needs. My reverse mortgage advisors specialize in "running the numbers" of each alternative. We can help you determine if a reverse mortgage is the RIGHT LOAN, for the RIGHT PERSON, at the RIGHT TIME, and for the RIGHT REASON. We believe we are the RIGHT COMPANY to help you compare the options so that you can lengthen your financial longevity with LOANgevity.

Paul E. Scheper, President
Loangevity Mortgage
+1 800-662-6784
email us here

Source: EIN Presswire

Is a Reverse Mortgage Considered Income for Medicaid?

Reverse Mortgage Expert

Paul Scheper, CRMP, CSA, MBA

Your Lender For Life!

Loangevity Mortgage

Money House

What senior homeowners receiving Medicaid need to know about Reverse Mortgages

It's smart to use only the amount of money you need from a reverse mortgage credit line, and always keep your bank balance below the maximum Medicaid threshold.”

— Lana Schott

IRVINE, CA, UNITED STATES, November 25, 2020 / — Half of the people who get a reverse mortgage don’t really need the money, but they get the loan “just in case” they might need funds later in retirement. Some folks are not as lucky and they need a reverse mortgage now in order to improve their cash flow and live a more financially independent life. If you’re a retiree contemplating a reverse mortgage loan and converting your home equity into cash, there are several important considerations you should make. First, in order to qualify for a home equity conversion mortgage (HECM), you must meet certain conditions such as owning your home, permanently living in your home, and being at least 60 years of age.

In addition to reverse mortgage qualifications, you should also consider how a reverse mortgage may affect your heirs, a non-borrowing spouse, and the government benefits you receive. If you’re one of 7.2 million seniors who receive Medicaid, a reverse mortgage might affect your coverage.
What is Medicaid?
Medicaid is a state and federal joint program under the Social Security Act. It helps cover the costs of long term care and physician visits for individuals and families who meet certain qualifications. Medicaid covers most of our nation’s long term care needs and if you’re currently eligible for Medicaid benefits, you should consider how a reverse mortgage might affect your eligibility. This is especially true if you’re a senior planning your future health needs or those of your spouse. You may be perfectly healthy now, but you can’t predict what your medical needs and costs might be in the future.

The Medicaid Program covers four basic types of medical expenses:
Part A: Covers hospital stays;
Part B: Covers physician visits, labs, x-rays, medical devices, and outpatient services;
Part C: Medicare Advantage Plan (like an HMO or PPO) available from private health insurance companies that are approved by Medicare;
Part D: Helps with prescription drug costs.

If you qualify for Medicaid, your income and assets must be put toward the costs of care, but you may retain some of that money for personal expenses.
The Medicaid program pays the difference for the cost of care directly to the facility, hospital, or provider. Medicaid’s coverage is vast, and it pays health care providers at a discounted rate to help seniors and low-income individuals receive necessary medical services they might not otherwise afford.
Note: The Affordable Care Act of 2010 gave states the ability to expand Medicaid coverage, which means that eligibility requirements vary state by state. It’s important to research how your location might affect your eligibility. For example, states may have different income limits, asset limits, and level of care required. These categories also differ based on whether the Medicaid applicant is single or married.

In order to be eligible for Medicaid, you must qualify based on your earnings, family size, and disability status – these are all factors that may vary by state. Eligibility is also affected by whether you’re single or married. For example, single, unmarried seniors with Medicaid coverage that covers long-term care can’t possess countable assets that go over a certain limit. Those same individuals are also restricted on a monthly basis for income.
By the same token, married seniors cannot possess countable income that goes over a certain number month to month. With that said, you are allowed to keep a specified amount of income per month which varies if you’re single or married.
A reverse mortgage may affect your Medicaid eligibility depending on what reverse mortgage payout method you choose. In most states, one of the Medicaid eligibility requirements states that the recipient must not have more than $2,000 in countable assets (or $3,000 between married couples). Make sure to contact a Medicaid specialist to confirm this information because things change every month.

Medicaid rules have rules about countable assets. Assets typically use for Medicaid eligibility include bank accounts, stocks and bonds, Real estate (other than your main residence), additional vehicles besides one. There are also assets that Medicaid does not count for eligibility and may include your primary home, personal belongings, one car, life under $1,500 face value, and a limit of $1,500 in savings set aside for funeral arrangement. A reverse mortgage is not considered income for Medicaid. Payments from a reverse mortgage are categorized as loan proceeds. This is also why reverse mortgages do not impact your taxes.

A reverse mortgage doesn’t affect the Medicaid income eligibility requirement because the payout does not count as income; rather, they are loan proceeds. However, if you choose a lump sum disbursement for your payout, but do not spend all of the proceeds, any leftover funds are considered countable assets after 30 days. If you exceed your asset limit, you may be ineligible for Medicaid coverage. This is important — you should use the reverse mortgage proceeds that you will need and keep the rest in the reverse equity line for later. For example, let’s say, for example, that you’re single and you have a Medicaid eligibility requirement of $2,000 in countable assets. Then, let's say you receive a lump sum of $5,000 from reverse mortgage proceeds but you only spend $3,000 of the funds during the month in which you received the payout. You put the remaining $2,000 in the bank. After 30 days, you would become ineligible for Medicaid because that money is then considered an asset. Be smart. Be strategic. Know your math.

Just remember — a reverse mortgage payout doesn’t immediately disqualify your Medicaid benefits, but it’s important to be mindful of how you spend your loan proceeds within a given amount of time. Getting a reverse equity line is prudent because you can draw out what you need, when you need it. Only use what you deem necessary from from the reverse mortgage credit line, and leave the rest in the credit line.

Paul E. Scheper, President
Loangevity Mortgage
9496367242 ext.
email us here

Source: EIN Presswire

Senior Homeowners Advised to Be Prepared for the Uncertain Future

Reverse Mortgage Expert

Paul Scheper, CRMP, CSA, MBA

A reverse mortgage might be the answer

You can’t take it with you – Enjoy Your Retirement Now

Your Lender For Life!

Loangevity Mortgage

It's better to have the money and not need it, than to need it and not have it.

It's better to have the money and not need it, than to need it and not have it.”

— Donald Tippen

IRVINE, CA, UNITED STATES, November 25, 2020 / — The best time to get a reverse mortgage is tied. It's when you need the money, and it's when you DON'T need the money.
Sound strange?
Over half of the reverse mortgages that I have offered to senior homeowners (Age 60 plus) are to those who don't need the money. They get the reverse mortgage, just in case, down the road, they might need the money.

Here are two big reasons people with large assets are flocking to get reverse mortgages after March, 2020 (post Covid-19).

Reason #1: Equity is NOT easy to get at!
Sadly, today's seniors are finding it almost impossible to tap into the equity in their home because of stringent qualifications. Fortunately, a Reverse Mortgage is the answer because you don't need a job. All you need is sufficient equity in your home and enough residual income to qualify. No Fico Score needed. The home values are higher now than in the past and many seniors are getting "standby" lines of credit just to be prepared because life sometimes gets rocky and life is unpredictable. "It's better to have the money and not need it, than to need it and not have it," says Linda Walsh in Newport Beach, CA.

Reason #2: Equity is NOT safe, and can erode quickly.
It's better to be safe, than sorry. Home values are volatile and can depreciate quickly. The housing market can weaken overnight. This limits your ability to access the cash in your home. Equity can vanish instantly. Life and things change rapidly (we all have seen this in the year 2020), and many homeowners wished they had a reserve account, a line of credit on "standby" when Covid-19 hit. A reverse mortgage not only allows you an easy way to tap into the equity in your home, it also allows you to create a growing line of credit. The amount of your credit line actually grows over time, allowing you to access more money in the future. Imagine having money in a Line of Credit that actually grows based on the “unused” amount in your equity line. The more you don’t use, the more it grows. According to Donny Tippen from Northridge, CA, "A reverse mortgage line of credit is like a fine wine. It gets better with time."

Having large amounts of home equity is the easy part. The hard part is how do senior homeowners access it? What good is having substantial equity if it's too hard to access? A solution to unlocking and accessing home equity might be a reverse mortgage. A reverse mortgage allows for the equity in your home to be converted into spendable cash, in the form of loan proceeds. These proceeds (your cash) can be used whenever, wherever, and for whatever reason you deem necessary. With a reverse mortgage, you are in control, you call the shots. It helps you be prepared, and have access to housing wealth, just in case you might need it later on down the road. If you don't need it, then you do not pay interest on the money you DON'T borrow. It's a safety valve, a "just in case" line of credit that you control in case "life gets in the way."

A reverse mortgage allows you to stay in your home without making a required monthly mortgage payment. It operates like a traditional loan – keep your taxes, insurance, HOA dues current – and pay back the loan once you sell the home or no longer live in the home. With a reverse mortgage, it's easy to access your cash, save money, and plan for a happy and secure retirement. Don't forget the old saying – It’s better to have the money and NOT need it, than to need the money and NOT have it. With a reverse mortgage credit line, it’s there for you – just in case, as a “standby” reserve account — and provides you with a sense of comfort, peace of mind and security for life’s uncertainties.

Paul E. Scheper, President
Loangevity Mortgage
9496367242 ext.
email us here

Source: EIN Presswire

Don't Get a Reverse Mortgage Until you do an Apples to Apples Comparison

Apples to Apples

Reverse Mortgage Expert

Paul Scheper, CRMP, CSA, MBA

Your Lender For Life!

Loangevity Mortgage

Before obtaining a Reverse Mortgage, compare things Apple to Apple

Reverse mortgages are fantastic, but always check the alternatives first so you know for sure it's suitable and appropriate.”

— Paul E Scheper, CRMP, MBA, CSA, SRES

COTO DE CAZA, CA, UNITED STATES, November 25, 2020 / — As you examine your retirement options, you may consider using a Reverse Mortgage, also known as an FHA HECM, which stands for Home Equity Conversion Mortgage. Here is a super simple definition of a Reverse Mortgage –A reverse mortgage is just a loan. They are designed to free up cash flow for homeowners 60 and over who have considerable equity in their homes. Reverse Mortgage terms vary based on factors like borrower age and the interest rate and the amount of home equity. Generally, the less you owe on your home, the more cash you will have available to use.

A reverse mortgage converts a portion of your equity into funds you’re able to spend as you see fit, enabling you to pay for general living expenses or unexpected medical costs. This option allows you to use your home equity without having to move out of your house or relinquish ownership. Unlike traditional mortgages, you don’t typically need to repay your reverse mortgage every single month, as long as you meet your loan obligations, which means staying up to date on property taxes, homeowner’s insurance, and property maintenance.

I suggest that you compare these alternatives "apple to apple, side by side" before choosing a reverse mortgage.

Alternative 1: Do I stay or do I go?
When you’re examining reverse mortgage alternatives, you may consider downsizing. The idea behind downsizing is simple: you sell your primary residence, buy a new one for a significantly lower price, and then use the leftover cash to supplement your retirement income. You could spend it slowly over time or invest the sum that you get from the sale of your property. The main benefit of downsizing is it means you’ll have the cash you can spend outright, invest, or pass it on to your heirs. However, the drawback is that downsizing forces you to leave your home. For seniors who are looking to keep their home and continue living there, a reverse mortgage might be the solution. You free up critical cash flow that you won’t have to pay back until you move out or pass away—and you still live in and own your home until the loan matures.

Alternative 2: Refinancing
If you currently have a high-interest rate on your home mortgage, you might be able to save more money and free up cash by refinancing. Plus, like a reverse mortgage, you will still own your home and be able to pass it onto your heirs. Refinancing might be a good option if you have a substantial amount of equity in your home and you don’t need a lot of money fast. A refi allows you to continue to build the equity in your home over time. The drawbacks, however, include having to make mortgage payments every month. In addition, there’s a possibility you may end up having to pay more than the original loan. For example, if your term is extended during refinancing, you might end up paying less each month, but find that you need to make payments longer. This results in a higher overall cost. In addition, if you do end up missing a payment on your house, banks can foreclose on your home. It’s also not easy to qualify because the debt compared to income ratios are hard to meet.

Alternative 3: Home Equity Loan or Home Equity Line of Credit (HELOC)
A home equity loan: this alternative to a reverse mortgage delivers proceeds in the form of a lump sum, based on the equity you have in your home. You’ll likely get more upfront cash with this option. However, you immediately need to pay back both the principal and the interest. If you miss payments, your lender can foreclose on your home. With a reverse mortgage, on the other hand, you don’t have to pay anything back until your loan matures. A Home Equity Line of Credit (HELOC): a HELOC allows you to borrow money against the equity in your home for a certain period of time, in the form of revolving credit. However, at the end of the draw period, you’ll enter the repayment period where your payment each month is due until the HELOC is paid off. If interest rates increase over time, so could your monthly repayment. Plus, if you overspend and use too much of your home’s equity, you might put yourself into a precarious financial situation later and face large interest payments in addition to the principal amount. A reverse mortgage line of credit works like a HELOC in that the proceeds can be drawn upon on an as-needed basis. However, the loan doesn’t require any repayment until the last homeowner or borrower living in the home passes away or moves out. Borrowers with a reverse mortgage equity line, however, liable for paying property taxes, insurance, and maintenance.

Alternative 4: Government Assistance Programs
You may find that you qualify for assistance from your county or state. Sometimes, there are programs designed to offer property tax relief, help to pay for your medical costs, or discounts on your energy bills. The National Council on Aging (NCOA) can help you find government benefits that will save you money.

Alternative 5: Renting
You may also choose to rent out your whole property or just a couple rooms. Ideally, you can choose to rent to someone you know, like a close friend or family member. Renting may allow you to stay in your home because of the additional rental income. You could pay off the mortgage you still owe with those proceeds or put it toward property taxes or maintenance. Unfortunately, that rental income has to be reported for taxes as income which may dig into your profits. There’s also much more work involved in renting; you’ll need to continually screen and replace incoming and outgoing renters.

Reverse Mortgages offer flexible ways to get cash from your home. Compare them with a lender who can offer all types of mortgages, and not only reverse mortgages.

Paul E. Scheper, President
Loangevity Mortgage
+1 800-662-6784
email us here

Source: EIN Presswire

Five Words that Describe a Reverse Mortgage

Reverse Mortgage Expert

Paul Scheper, CRMP, CSA, MBA

Your Lender For Life!

Loangevity Mortgage

These 5 words can help dispel the myths about reverse mortgages

Paul Scheper is a Certified Reverse Mortgage Professional (CRMP), a Certified Senior Advisor (CSA) and an MBA and describes a reverse mortgage in 5 words. KISS Approach – Keep It Super Simple.”

— Paul E Scheper

IRVINE, CALIFORNIA, UNITED STATES, November 25, 2020 / — Here are 5 of the most common myths & misconceptions about reverse mortgages, and the truth behind these myths.
The 5 words that explain a reverse mortgage are in each answer below.

1. “A reverse mortgage requires giving up ownership of your home.”
NOT True. It is just a loan. When you obtain a reverse mortgage, your name remains on the title and the deed to the home is still yours—just as it would be with any mortgage. You’re required to continue paying real estate taxes, homeowner’s insurance, homeowner association dues, and providing basic maintenance to your home, just as it would be with any mortgage you obtain. Once you no longer live in the home as your primary residence, the loan balance, including interest and fees, must be repaid, just as it would be with any home loan you obtain.

2. “A reverse mortgage should only be used as a last resort.”
NOT True. It is just a loan. Many homeowners age 62 and older are now using a reverse mortgage strategically as part of a sound financial plan. It can be used as a “standby” line of credit that acts as a cash reserve (or safety valve) that you can tap as needed. Unlike a traditional Home Equity Line of Credit, the unused reverse mortgage credit line limit actually grows over time. It’s like a “fine wine” – it actually gets better with age, if you do not use the money and let the credit line grow. This equity line is great for emergencies or monthly advances to help you delay taking social security until a later year. It’s also a nice “just in case” credit line to help supplement other retirement income and allow you to extend you financial longevity.

3. “There are restrictions on how I can use the money from a reverse mortgage.”
Not True. It is just a loan. Reverse mortgage proceeds can be used the way that the homeowner designs it to work. There are multiple ways for you to access your equity and convert it to spendable cash. Among the most common uses are paying off an existing mortgage or other debt in order to have no monthly mortgage or debt payments. Or you might choose to create a “standby” cash reserve for future emergencies or to delay taking social security, or to simply supplement your monthly retirement income to make things easier for you. It’s up to you – you can even use the funds to invest in home improvements; or cover medical bills, or subsidize your long-term care expenses. Use the funds in a way that makes you happy (and less worried) so that you can extend your financial longvevity.

4. "I could wind up owing more than my house is worth leaving my kids with my debt.”

Not True. It is just a loan. The heirs or adult children never, ever sign any forms obligating them to the any terms of reverse mortgage. Reverse mortgages are insured by the Federal Housing Administration. It’s just a loan, and like all loans, it must be repaid when the house sells or when the last remaining owner vacates the home. In both cases, no matter what he value is at that time, the heirs are not responsible for any financial obligations stemming from a reverse mortgage. No debt will be left to your heirs or your adult children. And if the loan balance is less than the market value of the home, the additional equity is retained by the homeowner/heirs (if the home is sold).

5. “Reverse mortgages are only for people who owe money on their home or for people who DON’T owe money at all.”
Not True. It's just a loan. To qualify for a reverse mortgage, you are allowed to have a mortgage now; in fact, most of the time, there is a mortgage owing and we pay if off with a new reverse mortgage. But, the flip side is also true – even if you own your home “free and clear,” you can obtain a reverse mortgage. Either way, whether you own your home free and clear, or if you have an existing mortgage, we pride ourselves in helping determine if a reverse mortgage is the right loan, for the right person, at the right time, and for the right reason. Our purpose is to educate you about reverse mortgages (and the alternatives as well), so that you can extend the longevity and retire more comfortably.

Paul Scheper
Loangevity Mortgage
+1 800-662-6784
email us here

Source: EIN Presswire

Kimlin Johnson, Acclaimed Author & Civil Rights Activist, Comments On African Americans & Financial Independence

Kimlin Johnson, Acclaimed Author & Civil Rights Activist

“Authenticity, Accountability & Ambitions” – by Kimlin Charise Johnson

"Financial Literacy, writing checks, and savings accounts did nothing for us in the ’80s and ’90s." – Kimlin Johnson

LOS ANGELES, CA, US, November 25, 2020 / — In an article published by The Public Health Post, findings found that the net worth of white households in the U.S., at $190,000, is ten times larger than that of African American households at $19,000. Differences in life expectancy between white and black Americans are also striking. After an African American male reaches age 50, he has a remaining life expectancy of 27.2 years, six years less than a white female. African Americans are significantly more likely to die during their working years relative to whites. More than 12 percent of African American males who reach age 50 die within 10 years, double the rate in the entire population.

In standard economic models, differences in life expectancy contribute to differences in wealth accumulation and spending patterns. Financial struggles may follow the death of a breadwinner including lost earnings and debt due to costly end-of-life medical care. Kimlin is a licensed Life Only Agent in the state of California. She specializes in building Generational Wealth, Business Opportunities, Annuities, IRA & 401K Rollovers, and Asset Protection. Please join her for the next zoom event she is hosting entitled, “ Becoming Your Own Bank,” this Saturday, November 28, 2020 from 12 -1 PM PST; Zoom ID :951-22-4075 Password:457767

Author of Authenticity, Accountability & Ambitions, and Civil Rights Activist Kimlin Johnson, has been on a quest to eliminate financial
inequalities in the Black community, arising from economic disparity and novelty around such subjects. As detailed in her book, Kimlin writes about how Black women in the U.S endure systemic racism in every aspect of their life.

Kimlin’s step towards a solution to systemic racism is financial education, wealth building & proper protection. This past month, Kimlin hosted her first economic event Via Zoom, with the goal of financially educating and elevating the mindset of all attendees.

The article continues on to state that life insurance has the potential to mitigate wealth disparities across race. When an insured person dies, life insurance pays a large lump sum to that person’s estate. Life insurance coverage is widespread with almost 60 percent of adults having coverage. Life insurance coverage is highest where the consequences from death of a breadwinner are greater.

For example, 71 percent of married individuals with a child and mortgage have coverage in comparison to just 27 percent for individuals who are single, childless, and renters. Families not insured against early mortality of the breadwinner may end up depleting wealth, carrying balances on credit cards, or using payday loans, all of which lower wealth.

Kimlin states, "This article confirms the need for financial independence for the Black Community. Financial Literacy, writing checks, and savings accounts did nothing for us in the ’80s and ’90s." So long as people continue to be educationally crippled, nothing can change.

Kimlin believes that financial independence consists of :

– Being in control of your money, not your money controlling you.
– Putting your money in the right investment vehicles.
– The freedom of not having to work.

Kimlin concludes her thoughts by advocating for a social change and stating, "There was no surprise in the differences in Life Expectancy and the fact that we are significantly more likely to die during our working years because of all the systemic racism and stress of being a Black employee. We need more Black Entrepreneurs."

If you would like to learn more about Kimlin's book, check out the full review of “Authenticity, Accountability & Ambitions” by Kirkus Reviews here:

To purchase your copy of Authenticity, Accountability & Ambitions, visit

Kimlin and others were featured in the “I Stand” short film by Ryan Freidin owner of Frito Films in June of 2020, to help stop systematic racism.
Watch Here:

IG: @kimlinjohnsonunlocked

Aurora DeRose
Boundless Media Inc.
email us here

Source: EIN Presswire