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SANTA CRUZ SENTINEL THURSDAY, JULY 30, 2015 LIVE IT UP! 11 • • • • • • • • pwccabrillo.com 831.295.5858 Cabrillo College.Building HW l.Suite 1138 6500 Soquel Drive.Aptos.CA 95003 GET BACK OUT THERE. STATE OF THE ART SPORTS MEDICINE COMPREHENSIVE CONCUSSION MANAGEMENT REGENERATIVE MEDICINE WITH PRP AND STEM CELL THERAPY TO FACILITATE HEALING MUSCULOSKELETAL ULTRASOUND TO ASSIST WITH DIAGNOSIS AND TREATMENT TEAM PHYSICIAN FOR THE SANTA CRUZ WARRIORS, UCSC, AND CABRILLO JACOB BENFORD, MD Reverse Mortgage Myths: Myth: e lender owns the home. You will retain the title and ownership during the life of the loan, and you can sell your home at any time. Myth: Borrowers pay taxes on loan proceeds. Reverse mortgage proceeds are tax-free as it is not considered income. However, it is recommended that you consult your financial advisor and appropriate government agencies for any effect on taxes or government benefits. Myth: e borrower is restricted on how to use the loan proceeds. Once any existing mortgage or lien has been paid off, the net loan proceeds from your reverse mortgage can be used for any reason. Many borrowers use it to supplement their retirement income, defer receiving Social Security benefits, payoff debt, pay for medical expenses, remodel their home, or help their adult children. Myth: e home must be free and clear of any existing mortgages. Actually, many borrowers use the reverse mortgage loan to pay off an existing mortgage and eliminate monthly mortgage payments. Borrowers must continue to pay required property taxes and homeowners insurance. Santa Cruz Home Finance is your local source for reverse mortgages! 1535 Seabright Avenue, Santa Cruz SantaCruzHomeFinance.com NMLS # 237693 | CalBRE # 01316139 Call one of our professionals today! 831.425.1250