Reverse Mortgages Near You - Pasadena Reverse Mortgage Lender
Meet Susana Rhoades
Susana Rhoades
VP of Reverse Mortgages
NMLS #760390
(909) 757-1840
Get the best reverse mortgage deals in Pasadena, California.
Susana Rhoades and Change Home Mortgage are your go-to team in Pasadena 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 Pasadena reached $1,164,803. That was up 5.8% over the last 12 months (https://www.zillow.com/home-values/47019/pasadena-ca/).
There are 3,298 people in and around Pasadena who already have a reverse mortgage with 125 of them taking advantage of one in the last 12 months.
About Pasadena, California
Pasadena, California, is a lively and historic city located northeast of downtown Los Angeles, known for its cultural attractions, charming neighborhoods, and iconic annual events. With a population of around 140,000 residents, Pasadena combines a cosmopolitan feel with small-town charm, offering a high quality of life to its residents. The city’s unique blend of art, history, and entertainment makes it one of the most sought-after communities in Southern California.
Pasadena's history stretches back to the late 19th century when it was established as a winter resort for Midwestern and East Coast elites. The city quickly grew in prominence and became known for its beautiful architecture, including stunning Craftsman-style homes and historic buildings. Today, neighborhoods like Bungalow Heaven, Old Town Pasadena, and the Civic Center District showcase the city's architectural diversity and rich heritage, drawing visitors from near and far.
One of Pasadena's most famous events is the annual Rose Parade, which has been held on New Year’s Day since 1890. Known worldwide, this event features elaborate floral floats, marching bands, and equestrian units, and is followed by the Rose Bowl football game at the iconic Rose Bowl Stadium. The parade and game bring a vibrant energy to the city each year, drawing hundreds of thousands of spectators and making Pasadena a focal point of celebration and tradition.
Pasadena is also a hub for arts and culture, boasting a variety of world-class institutions. The Norton Simon Museum, with its impressive collection of European and Asian art, is a favorite among art enthusiasts. The Pasadena Playhouse, a historic theater, offers a range of performances, from classic plays to modern productions. The city is also home to the renowned California Institute of Technology (Caltech), a world-leading research university that has produced numerous Nobel laureates. Caltech’s Beckman Institute and The Huntington Library, Art Museum, and Botanical Gardens in nearby San Marino are both beloved cultural and educational centers in the community.
Nature lovers in Pasadena enjoy the city’s close proximity to scenic outdoor spaces. The Arroyo Seco, a sprawling canyon that runs through the western part of the city, offers hiking trails, picnic areas, and golf courses, as well as the Rose Bowl Stadium. Nearby Eaton Canyon Natural Area, with its picturesque trails and waterfall, is a popular destination for those looking to escape into nature. Pasadena’s many parks, such as Victory Park and Brookside Park, provide green spaces where residents can relax, play, and connect with nature.
As a reverse mortgage loan officer serving Pasadena, I am proud to assist homeowners in this culturally rich and dynamic city. Whether you're exploring options to access the equity in your home or looking to improve your financial flexibility, I’m here to provide personalized guidance and support. Pasadena is a city with deep roots and a vibrant spirit, offering an exceptional lifestyle where tradition, innovation, and community come together to create an extraordinary place to call home.
Contact your Pasadena 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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