Welcome CPA and SLFS Professionals!
Bridge Financing with low rates and great service!
Real Estate Solutions | Home Sale Solutions | Insurance and more.
Payment Options for Senior Living
We welcome you as professionals of Columbia Pacific Advisors and Senior Living Financial Specialist. The team at Second Act is here to assist you every day. From Bridge Financing, to Real Estate and Insurance Solutions, help is available. As a senior-focused Division of Liberty Savings Bank F.S.B. of Wilmington, Ohio, we are pleased to be a part of your solutions. Scroll below to learn and access solutions that can help you help more families move to senior living!
For Home Equity Line of Credit Bridge Financing Assistance
Please Make an Appointment Below.
For Veteran Aid and Attendance Benefit Bridge Financing Assistance
Please Make an Appointment Below.
Meet Sam. She wants to make the move.
Bridge Loan Benefits:
1. You gain breathing room and time to sell your home on your own terms.
2. It is easier to stage, show and sell your home for the best price if you are not living in it.
3. You make smaller, more affordable interest-only monthly payments on what you draw from your Home Equity Line of Credit bridge loan to pay for your housing or care.
Unsecured Personal Loan
Bridge Financing Benefits:
1. Move now and borrow the expected Veteran Aid & Attendance monthly benefit amount to cover the gap in senior housing and care.
2. Make smaller interest-only payments on what you borrow.
3. Gain financial flexibility and time until your Veteran Benefits arrive!
Meet Victoria, a Veteran’s Spouse.
She is Moving to Senior Living!
Affordable Smaller Payments
- Please Note: The Home Equity Line of Credit loan is to the senior on the senior’s home. If senior can qualify on their own there is no need for an adult child guarantor. We do encourage adult children or Guardians and Advisors of any type to be involved for maximum assurance of the well being and propriety of entering into this transaction.
- If the financing need is for a Memory Care Setting or the senior is amidst “Diminished Capacity” issues, a Financial Power of Attorney may be Required to Execute documents on behalf of a loved one.
- Also for seniors with a home to sell and obtaining a Home Equity Line of Credit (HELOC) for Senior Living, there is a one-time title insurance fee of $475 to $600 added to the loan which is a fee passed on at cost. Appraisals are not needed for homes under $400,000. In Non-Entry Fee situations most of the time appraisals are not needed. We pull an automated virtual appraisal which takes seconds. Depending on the loan amount there may be an appraisal needed the cost of which may vary depending on location of home and size of home. Because this is a Home Equity loan, the interest may be tax deductible! Check with your Accountant for details!
- If there is an existing mortgage on the property, please add that amount to the box labeled “Your Entrance Fee or Community Deposit” in addition to the deposit for the community needed. This is because the Second Act HELOC is a first-lien loan and any existing balances must be rolled into it in order to have the first-lien position. For example, if there is an existing $100,000 mortgage on the home, and a community deposit is needed of $4,000, then please put $104,000 in the “Community Deposit” box.
- Our Terms and Disclosures page is here: https://secondact.com/terms-and-disclosures
Get Started by Calculating Your Need and Payments
Low rates. Affordable Payments. Financing for Senior Living.
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Home Sale Solutions
If you would like a little help with the logistics of selling your home, our Community professionals have relationships with local real estate agents who can be ready to help you. From preparing to list your home through the ultimate sale, and just about every step in-between, all you have to do is ask your Community professional and you will be connected to helpful local resources and agents that can do the heavy lifting for you.
Pick an Agent
We identify Agents. You Pick One!- We leverage our data to identify agents in your area that could be a fit for you.
- We will select two to three to interview. You decide which agent you would like to help you.
- Contract with your agent!
List Your Home
Price, Photograph, Stage & List- You decide on your listing price.
- Make any needed repairs & stage your home.
- Have professional photos taken.
- List your home.
- Hold open houses.
Close on your Home Sale!
Negotiate & Close on the Right Offer- Review Offers. We stand by you with advice.
- Decide on the best offer.
- Close on your home sale.
- Pack and move into your new home with resources at the ready thanks to Second Act!
Long-Term Care Insurance
Many people do not know what Long-Term Care Insurance is, or that it even exists. If you are caring for a loved one it is especially important you ask them if they signed up for such a policy many years ago. Long-Term Care Insurance usually can cover a maximum daily amount for housing and care of a senior living resident who needs assistance with a certain minimum set of Activities of Daily Living. Be sure to check this box when evaluating what financial resources you may have at your disposal to cover costs that include degrees of care in an Assisted Living, Memory Care, or Nursing Home, setting. Second Act can direct you to long-term care insurance experts you can receive helpful guidance on your policies as you prepare to move to our community.
