Your Hometown Reverse Mortgage Consultant based in Mesa, AZ
Your Hometown Reverse Mortgage Consultant based in Mesa,
AZ
Steve Saltz
Your Hometown Reverse Mortgage Consultant based in Mesa, AZ
Your Hometown Reverse Mortgage Consultant based in Mesa,
AZ
Originally from Fort Collins, Colorado, I currently call Mayer, Arizona my home. I hold a Bachelor of Science degree in Engineering from Arizona State University as well as a Master of Business Administration degree from Western International University. After graduating college, I served in the United States Army, where I met my wife. We moved to Phoenix, where I spent 30 years in the aerospace industry, initially as an engineer, and then ultimately as an executive. My career in the reverse mortgage industry began in 2018 and has been a wonderful experience. I was first introduced to the industry by my sister, a loan officer, and was impressed with her stories of how gratifying it was to help seniors access the equity in their homes to achieve their financial goals. It was then that I knew I had to take the next step in my career, and became a licensed loan officer myself. The best part of working in the reverse mortgage industry is meeting my clients, connecting with them, and getting to know their goals as I help them explore the potential of their home equity. There is no better feeling than knowing I've been able to help my clients improve their financial futures and live their retirement years to the fullest. Outside of work, I enjoy reading, repairing old equipment and engines, martial arts, and hiking. I also enjoy spending time with my family - my wife, 3 grown daughters, and 2 granddaughters.
Your Starting Point to Reverse Mortgages
Common Misconceptions
MYTH: With a reverse mortgage, the bank takes your home.
That’s false! With a reverse mortgage, the homeowner keeps the title to the home in their name. The lender simply adds a lien onto the title to guarantee that the money will eventually be paid back when the loan becomes due.
MYTH: Your heirs can’t inherit the home with a reverse mortgage.
Nope! You will still be able to pass the home on to your kids. Just like any other mortgage, they can inherit the house. When the loan becomes due, they can decide how to repay the loan balance.
MYTH: Reverse mortgages should only be used as a last resort.
That’s incorrect! A reverse mortgage is a powerful financial tool that can be an important part of your overall financial plan. From paying off an existing mortgage to delaying Social Security benefits, or even establishing an emergency line of credit, it’s a flexible product that gives you options.
MYTH: A reverse mortgage interferes with Social Security and Medicare benefits.
False! Government entitled programs such as Social Security and Medicare are not affected by a reverse mortgage – however, need-based programs such as Medicaid may be. Consult a qualified financial advisor to learn more.
MYTH: Reverse mortgages are expensive.
Here’s the truth – reverse mortgage loan origination costs and interest rates are comparable to those of traditional mortgages. They do not require large out-of-pocket expenses. There are FHA insurance costs that some traditional mortgages don’t require, but the insurance benefits are well worth the relatively small cost.
MYTH: Taxes have to be paid on money received from a reverse mortgage.
Nope! Proceeds from a reverse mortgage are not considered income, and are therefore not taxable. The money from a reverse mortgage comes from your home’s equity, which already belongs to you, so it’s not considered income. Plus, the interest on a reverse mortgage can be tax-deductible when it’s repaid.
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Featured Video
How it Works
For many Americans, their home is their biggest asset, and the one they have invested the most in throughout their lives. And a Home Equity Conversion Mortgage (HECM), or "reverse mortgage," can allow senior homeowners to tap into some of this hard-earned home equity – for another source of cash to help fund retirement, counteract the effects of inflation, and live more comfortably.
Let’s Get Social
Peak 65: 7 Things to Do if You Turn 65 This Year
🎉 Turning 65 soon? It's more than just a number – it's a milestone worth celebrating! Sixty-five marks the beginning of a new chapter filled with endless opportunities and experiences. Read our blog for 7 ways to mark this special occasion in your life! #Longbridge #LongbridgeFinancial #blog #65thBirthday
A Home Equity Conversion Mortgage (HECM) for Purchase is a reverse mortgage specially designed to help home buyers age 62 and older afford the home that serves their needs. And as a real estate professional, HECM for Purchase allows you to grow your business in the process. Sounds like a win-win? Learn more: online.flippingbook.com/view/323144926 #retirement #reversemortgage #realestate #realestateagent #homeforsale #realestatetips
At Longbridge Financial, we make customer service our highest priority. In fact, we feel so strongly about going above and beyond to ensure your total satisfaction that we’ve put it in writing. Ask me about The Longbridge Commitment! #Longbridge #retirement #reversemortgage #HECM #customerservice online.flippingbook.com/view/234421176
Reverse Mortgage: Senior Retirement Planning Tool?
While reverse mortgages were once seen as a financial tool of last resort, more and more financial advisors are realizing that it can actually be a useful retirement planning tool for seniors, as part of a comprehensive financial plan, to help make sure that people won’t outlive their money. Learn more in the article below.
How Long Does a Reverse Mortgage Last? And Other Answers to Common Questions
When it comes to a traditional “forward” mortgage, there’s always a term attached: it has to be paid off within a specific time frame, such as 10, 15 or 30 years. But unlike traditional mortgages, there’s no set term for reverse mortgages. So, how long does a reverse mortgage last?
Peak 65: 7 Things to Do if You Turn 65 This Year
🎉 Turning 65 soon? It's more than just a number – it's a milestone worth celebrating! Sixty-five marks the beginning of a new chapter filled with endless opportunities and experiences. Read our blog for 7 ways to mark this special occasion in your life! #Longbridge #LongbridgeFinancial #blog #65thBirthday
A Home Equity Conversion Mortgage (HECM) for Purchase is a reverse mortgage specially designed to help home buyers age 62 and older afford the home that serves their needs. And as a real estate professional, HECM for Purchase allows you to grow your business in the process. Sounds like a win-win? Learn more: online.flippingbook.com/view/323144926 #retirement #reversemortgage #realestate #realestateagent #homeforsale #realestatetips
At Longbridge Financial, we make customer service our highest priority. In fact, we feel so strongly about going above and beyond to ensure your total satisfaction that we’ve put it in writing. Ask me about The Longbridge Commitment! #Longbridge #retirement #reversemortgage #HECM #customerservice online.flippingbook.com/view/234421176
Reverse Mortgage: Senior Retirement Planning Tool?
While reverse mortgages were once seen as a financial tool of last resort, more and more financial advisors are realizing that it can actually be a useful retirement planning tool for seniors, as part of a comprehensive financial plan, to help make sure that people won’t outlive their money. Learn more in the article below.
How Long Does a Reverse Mortgage Last? And Other Answers to Common Questions
When it comes to a traditional “forward” mortgage, there’s always a term attached: it has to be paid off within a specific time frame, such as 10, 15 or 30 years. But unlike traditional mortgages, there’s no set term for reverse mortgages. So, how long does a reverse mortgage last?
About Me
Originally from Fort Collins, Colorado, I currently call Mayer, Arizona my home. I hold a Bachelor of Science degree in Engineering from Arizona State University as well as a Master of Business Administration degree from Western International University. After graduating college, I served in the United States Army, where I met my wife. We moved to Phoenix, where I spent 30 years in the aerospace industry, initially as an engineer, and then ultimately as an executive. My career in the reverse mortgage industry began in 2018 and has been a wonderful experience. I was first introduced to the industry by my sister, a loan officer, and was impressed with her stories of how gratifying it was to help seniors access the equity in their homes to achieve their financial goals. It was then that I knew I had to take the next step in my career, and became a licensed loan officer myself. The best part of working in the reverse mortgage industry is meeting my clients, connecting with them, and getting to know their goals as I help them explore the potential of their home equity. There is no better feeling than knowing I've been able to help my clients improve their financial futures and live their retirement years to the fullest. Outside of work, I enjoy reading, repairing old equipment and engines, martial arts, and hiking. I also enjoy spending time with my family - my wife, 3 grown daughters, and 2 granddaughters.
Arizona Mortgage Banker License #0930082. Branch Address: 1910 S. Stapley Drive Suite 221, Office 221, Mesa, AZ 85204; Branch NMLS #: 2335271; Phone #: 602-492-8055