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What are our biggest expenses? Our housing expense is usually the biggest. Then perhaps a car payment, utility bills, insurance, and credit payments. It is generally expected that our housing expense should not exceed 30% of our income. But if you live in high-cost areas like California, your housing expense can likely exceed 50% of your income! This is a scary situation to be in. Especially if you are living on “fixed” income, meaning you get the same amount each month no matter what. People who are retired fit into this category. So much so that any significant increase in their income is celebrated on the evening news! The COLA (cost of living adjustment) that occurs with Social Security benefits was 5.9% in 2022. At that time, it was the highest increase in 40 years! Only to be topped in 2023 by an 8.7% increase. The news was posted and discussed everywhere because there are so many baby boomers who are now collecting Social Security alone or in addition to a retirement pension. It was fantastic news as the increase enabled recipients to live better. That’s exactly what we are all about at Pacificwide Reverse: helping people live better now. To that end, helping people 55 and older figure out how to make their ends meet each month is our #1 goal. If your housing expense is more than 30% of your income and that expense includes a mortgage payment, it may be time for a free consultation with one of our specialists to discuss how to make that expense more affordable. Or how to eliminate it entirely. As you probably know, having a reverse mortgage does not affect your Social Security pension. The proceeds from a reverse mortgage are not considered ‘taxable income’ as they are proceeds from a loan. Nor will having one keep you from purchasing additional property. Getting rid of your mortgage payment could help make it possible for you to live a life free of financial worry. Right now. So, aren’t you curious? Let’s talk!

Yolanda Smith-Lane

Executive Vice President, Pacificwide Lending

Director, Pacificwide Reverse 

Direct Line: (510) 806 5327 

Posted by Andrew Liu DRE: 01109246 NMLS#249736 on May 3rd, 2023 3:46 PM
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If your financial life in retirement is not what you envisioned, let’s talk about it.

Most of us dream of the time in our lives when we can retire! A time when the hustle-and-bustle of life is over. When we don’t have to wake up early in the morning. We don’t have to wear business clothes or commute. We can take a lunch break, or for that matter any kind of break, anytime we want! Simpler. That’s the best word to describe life in retirement. Or at least the way it should be. Not working everyday also means not making the income you were accustomed to.  If you were wise and started young, you likely have a healthy “nest egg” to supplement your retirement income. But if you’re like a lot of us, you aren’t as comfortable as you want to be with your financial condition. What are the options for increasing your income or savings without getting a job? One option that is often overlooked is gaining access to the home equity you have built up over the years.  You can access that equity by selling your existing home and purchasing a smaller home for cash.  Or you could choose the only other option that doesn’t involve making a monthly mortgage payment: a reverse mortgage. Now before you stop reading, have you ever looked into a reverse mortgage for you? Have you gotten a proposal from a reverse mortgage provider? Do you know of the different reverse mortgage products that exist today? I won’t get into all that right now. I just want to put on your mind that reverse mortgage is much more versatile and multi-faceted than you know. And you would be doing yourself a disservice if you don’t call us for a free consultation. Situations can change overnight. And the peace of mind that comes from knowing there is a “Plan B” just in case you need it is priceless. Give us a call today so we can set up your appointment. 

Director, Pacificwide Reverse

Executives Vice President, Pacificwide Lending 


Posted by Andrew Liu DRE: 01109246 NMLS#249736 on April 25th, 2023 5:39 PM

Are you interested in purchasing your very own building?

If you are a business owner, who’s looking to purchase your own building. Great news! You can purchase your own property with only 10% down. On top of that, I might be able to provide a great interest rate in the high 4% to low 5%s. Better yet, you can even choose a fixed rate (fixed for 25 years); never having to worry about refinancing it after 3 or 5 years.

In fact, I recently used this program to purchase my own office.

Please call me with your scenario


Posted by Andrew Liu DRE: 01109246 NMLS#249736 on January 19th, 2018 11:46 AM
Through the years, many people have created a stigma about reverse mortgages; the most common myth is that lenders will get to keep the home, which is certainly not true. Reverse mortgage lender just keeps a trust deed on the home. Borrowers will fully own their home but will not have to make the monthly mortgage payments. 

In fact, borrowers cant start the loan process without going through a HUD approved counselor for a consultation. Only a borrower produced HUD certified, can start the loan process. Moreover, a reverse mortgage is a government loan that is administered by FHA.

Currently, I'm helping an elderly couple in their mid-70s. Who are in a very tight fixed income. Yet, their first and second mortgage payments would take up most of their monthly income. They have been scrapping by financially, while receiving some help from their children, and making overdue payments on credit cards.

Thanks to the recent housing boom, their home value has risen dramatically. They sit on a lot of equity. Yet, they prefer not to sell their beloved home. As I visited them, I'm greeted by a lovely couple who have fallen in challenging times. They looked to me for guidance. I provided them with the option for a reverse mortgage. After educating this couple, they were pleasantly surprised that they had options. They loved the idea. I also proposed a LESA account so their property tax as well as home insurance could blend into the new loan, therefore, if the loan goes through as planned, they will not have to make any payments on the house.

Yet, this loan is not without challenges: although they are sitting on a lot equity. They still currently owe a loan amount that is higher than the maximum reverse mortgage amount that they've been qualified. I am still working with their current lender to agree on a short pay. Hopefully their lender will come to their sense and agree to a short pay.

Posted by Andrew Liu DRE: 01109246 NMLS#249736 on August 23rd, 2017 4:01 PM


Pacificwide Lending

CA License #01762647 NMLS#241222, TX License #241222, FL License # MBR 3291

7041 Koll Center Pkwy Ste 270 Ste 270
Pleasanton, CA 94566