Reverse Mortgages Near You - Covina Reverse Mortgage Lender
Meet Susana Rhoades
Susana Rhoades
VP of Reverse Mortgages
NMLS #760390
(909) 757-1840
Get the best reverse mortgage deals in Covina, California.
Susana Rhoades and Change Home Mortgage are your go-to team in Covina when you need expert advice about reverse mortgages – from Covina to Fontana and anywhere throughout Pomona Valley and Los Angeles County.
Susana has decades of experience working in the mortgage industry including more than 20 years specializing in reverse mortgages.
She has helped hundreds of clients navigate both reverse and traditional mortgage solutions.
“One of the most fulfilling parts of my work is creating those ‘lightbulb moments’ when people realize the vast possibilities a reverse mortgage can offer,” Susana said.
Her motivation comes from seeing her clients breathe that sigh of relief when they twig that she has found a way to supplement their income and rid them of their financial worries.
She is also driven to educate seniors about the opportunities they may be missing.
“Despite the clear benefits, reverse mortgages are still misunderstood and underutilized as part of a comprehensive retirement plan,” she said.
That’s why she hosts educational workshops and collaborates with industry professionals to illustrate how reverse mortgages can be such an invaluable financial tool in retirement.
“My own father became one of my reverse mortgage clients.
“It was heartening to see first hand how it allowed him to upgrade his home so he could safely age in place and continue being part of the community he loves.”
Susana is also a proud Mom of who she describes as her “amazing young adults”, she serves on the board of her local Habitat for Humanity, and she is a former board member for Autism Spectrum Athletics.
“Contributing to a better world is not just my job – it’s my passion,” she said.
What is a reverse mortgage?
A reverse mortgage is one of the most misunderstood yet effective loans that has the power to transform the lives of seniors and retirees who find themselves in financial difficulty.
It is specifically designed for people at least 62 years of age who have equity in their properties but are finding the cost of day to day living challenging.
A reverse mortgage allows you to draw on that equity and convert it into cold, hard cash.
It’s a win-win because it gives you a brand new income stream, while also allowing you to continue to live in your family home without having to sell up and downsize just to put food on the table.
The extra money not only takes care of day to day expenses but will likely leave you extra money to enjoy your retirement in some style.
You may want to take that long planned family vacation, spend it around the home or simply splash out on some nice dinners and shows.
Funds can be made available in a number of different ways including a line of credit, monthly installments, a lump sum or even a combination of all three.
As long as the terms of the loan are met, it does not require repayment until either the homeowner sells or the last surviving borrower passes away.
It’s one of the smartest ways homeowners can put their financial struggles behind them whilst boosting their standard of living.
Average house prices in Covina have reached $781,230. That was up 5.8% over the last 12 months (https://www.zillow.com/home-values/24245/covina-ca/).
There are 3,801 people in and around Covina who already have a reverse mortgage with 176 of them taking advantage of one in the last 12 months.
About Covina, California
Covina, California, is a charming city located in the San Gabriel Valley region of Los Angeles County, known for its rich history, friendly neighborhoods, and small-town feel. With a population of around 50,000, Covina offers a peaceful suburban lifestyle while providing convenient access to the greater Los Angeles area. The city is well-loved for its tight-knit community, local businesses, and a variety of parks and recreational activities, making it a wonderful place to call home.
Covina was originally founded in 1882 and has a long history rooted in agriculture, specifically citrus farming. For decades, the city was known as one of the top producers of oranges and lemons, and at one point, it proudly called itself the “Third Largest Orange Producer in the World.” Today, while the citrus groves have mostly been replaced by homes and businesses, Covina still holds on to its agricultural heritage, and you can find hints of its past throughout the city, especially in its historic downtown district.
Downtown Covina is a lively area filled with unique shops, family-owned restaurants, and historic buildings that bring a nostalgic charm to the city. The downtown area often hosts local events, such as farmers’ markets, parades, and seasonal festivals that bring the community together. Covina is also home to the historic Covina Center for the Performing Arts, a beautifully restored theater that offers live performances, concerts, and cultural events. This vibrant arts scene, combined with Covina’s historic character, makes the downtown area a favorite spot for residents and visitors alike.
For outdoor enthusiasts, Covina has several parks and recreational areas where families can enjoy the sunny California weather. Covina Park, with its playgrounds, sports fields, and picnic areas, is a popular spot for family gatherings and community events. Another favorite is Kelby Park, which features sports courts, open green spaces, and a playground for kids. Residents can also enjoy nearby natural areas such as the San Gabriel Mountains, which offer hiking, biking, and other outdoor activities just a short drive away.
Education is a priority in Covina, with the city being served by the Covina-Valley Unified School District, which includes highly-rated schools known for their strong academic programs and extracurricular activities. Covina High School, South Hills High School, and Northview High School are notable schools in the area that offer students a range of educational opportunities. Additionally, there are nearby colleges and universities, such as Azusa Pacific University and Citrus College, providing higher education options for local residents.
As a reverse mortgage loan officer serving Covina, I am dedicated to helping homeowners in this welcoming and community-oriented city. Whether you’re considering a reverse mortgage to access the equity in your home or exploring options for a more secure retirement, I am here to provide expert guidance and personalized solutions. Covina’s blend of historical charm, friendly community, and suburban convenience make it a truly special place to live, and I’m proud to support its residents.
Contact your Covina reverse mortgage lender today.
Susana and her Change Home Mortgage team would love to help you sustain a better retirement with the assistance of a reverse mortgage.
Please call Susana on (909) 757-1840 and she will be delighted to offer you a no obligation assessment of your position.
*As of November 2024
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