Your Hometown Reverse Mortgage Consultant residing in Newton, NJ, NJ
Your Hometown Reverse Mortgage Consultant residing in Newton, NJ,
NJ
Licensed in NJ
Earl Schick
Your Hometown Reverse Mortgage Consultant residing in Newton, NJ, NJ
Your Hometown Reverse Mortgage Consultant residing in Newton, NJ,
NJ
Licensed in NJ
I'm proud to work for an innovative company committed to responsibly helping homeowners reshape their financial future by educating them on home equity solutions—and helping them unlock the power of their homes.
Your Starting Point to Reverse Mortgages
COMMON MISCONCEPTIONS
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 income 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.*
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 generally not affected by a reverse mortgage – however, need-based programs such as Medicaid may be. Consult a qualified financial advisor or the appropriate government agency 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 cost is relatively small.
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, provided they meet their loan obligations, keeping current with property taxes, insurance, and maintenance. The lender simply adds a lien onto the title to guarantee that the money will eventually be paid back when the loan becomes due.
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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. Important Note: When you click on this video, certain personal information may be sent to the video provider (such as YouTube, Vimeo, etc.). To learn more about our privacy practices, please review our Privacy Notice.
Let’s Get Social
🍂 As the seasons change, so do your clients' goals. Platinum by Longbridge, our proprietary jumbo reverse mortgage, is built to support a wide range of financial needs. With higher maximum loan amounts and flexible options, Platinum gives you more ways to help your clients make the most of their home equity. Ready to offer your clients more this fall? 📩 Let's connect and explore how Platinum can help grow your business. #PlatinumByLongbridge #ReverseMortgage #HomeEquitySolutions #LongbridgeFinancial
Medicare has a lot of moving parts. For financial advisors whose clients are approaching or already in retirement, they’re counting on you to help them put the pieces together. Join our upcoming CE webinar to learn how Medicare fits into financial planning, where the common pitfalls are, and which regulatory and market changes you should know about. 💻 Medicare Made Simple: Navigating IRMAA, HSA, and Everything in Between ⏰ Wednesday, October 28 | 10 AM PT | 1 PM ET Save your seat: https://attendee.gotowebinar.com/register/8346617525155120470?source=LoanOfficer #Medicare #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
Real Estate Pros — Last Chance to Register! ⌛ Join us October 21 for the next session in our series with @Buffini & Company, “The Business Behind the Business: Building a Relationship-Driven Real Estate Practice.” Don’t miss this chance to build stronger business partnerships by understanding what each partner does, why they do it, and how you can create value for your clients. ✅ Save your spot: https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateProfessionals #RelationshipBuilding #LongbridgeFinancial #Longbridge
🏡 Thinking about downsizing, moving closer to family, or finding a home that better fits your life this fall? With Reverse for Purchase financing, you can use a reverse mortgage to buy your next home while keeping more of your savings available for other priorities. Whether you’re looking for less upkeep, a new location, or simply a home that better fits the way you want to live, Reverse for Purchase gives you another way to make your next move possible. 💡 See how Reverse for Purchase could work for you: https://longbridge-financial.com/blog/reverse-mortgages/hecm-for-purchase-how-you-can-buy-a-house-with-a-reverse-mortgage/?agent=1 #ReverseForPurchase #RightSize #RetirementReady #ThePowerOfHome #LongbridgeFinancial #Longbridge
What if your professional relationships could help you create more real estate opportunities — without simply adding more hours to your day? Join Billy Van Raaphorst of Buffini & Company and Rob Cooper of Longbridge Financial for the next session in The Business Behind the Business webinar series: Working Together to Support Clients 📅 October 21 ⏰ 12 PM ET | 9 AM PT Learn how to build stronger business partnerships by understanding what each partner does, why they do it, and how you can create value for your clients. Join the conversation 👉 https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateAgents #RealEstateBusiness #RelationshipBuilding #LongbridgeFinancial #Longbridge
Enrollment timing. Employer coverage. HSAs. Coverage transitions. If you’re a financial advisor, these are all places where your clients can make Medicare mistakes, and those mistakes can follow them through retirement. On October 28, Margo Steinlage Kreider, J.D., of Steinlage Insurance Agency will show you how to spot common Medicare pitfalls so you can help your clients avoid them. 💡 Register now for this CE-eligible session: https://attendee.gotowebinar.com/register/8346617525155120470?source=LoanOfficer #Medicare #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
🍂 As the seasons change, so do your clients' goals. Platinum by Longbridge, our proprietary jumbo reverse mortgage, is built to support a wide range of financial needs. With higher maximum loan amounts and flexible options, Platinum gives you more ways to help your clients make the most of their home equity. Ready to offer your clients more this fall? 📩 Let's connect and explore how Platinum can help grow your business. #PlatinumByLongbridge #ReverseMortgage #HomeEquitySolutions #LongbridgeFinancial
Medicare has a lot of moving parts. For financial advisors whose clients are approaching or already in retirement, they’re counting on you to help them put the pieces together. Join our upcoming CE webinar to learn how Medicare fits into financial planning, where the common pitfalls are, and which regulatory and market changes you should know about. 💻 Medicare Made Simple: Navigating IRMAA, HSA, and Everything in Between ⏰ Wednesday, October 28 | 10 AM PT | 1 PM ET Save your seat: https://attendee.gotowebinar.com/register/8346617525155120470?source=LoanOfficer #Medicare #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
Real Estate Pros — Last Chance to Register! ⌛ Join us October 21 for the next session in our series with @Buffini & Company, “The Business Behind the Business: Building a Relationship-Driven Real Estate Practice.” Don’t miss this chance to build stronger business partnerships by understanding what each partner does, why they do it, and how you can create value for your clients. ✅ Save your spot: https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateProfessionals #RelationshipBuilding #LongbridgeFinancial #Longbridge
🏡 Thinking about downsizing, moving closer to family, or finding a home that better fits your life this fall? With Reverse for Purchase financing, you can use a reverse mortgage to buy your next home while keeping more of your savings available for other priorities. Whether you’re looking for less upkeep, a new location, or simply a home that better fits the way you want to live, Reverse for Purchase gives you another way to make your next move possible. 💡 See how Reverse for Purchase could work for you: https://longbridge-financial.com/blog/reverse-mortgages/hecm-for-purchase-how-you-can-buy-a-house-with-a-reverse-mortgage/?agent=1 #ReverseForPurchase #RightSize #RetirementReady #ThePowerOfHome #LongbridgeFinancial #Longbridge
What if your professional relationships could help you create more real estate opportunities — without simply adding more hours to your day? Join Billy Van Raaphorst of Buffini & Company and Rob Cooper of Longbridge Financial for the next session in The Business Behind the Business webinar series: Working Together to Support Clients 📅 October 21 ⏰ 12 PM ET | 9 AM PT Learn how to build stronger business partnerships by understanding what each partner does, why they do it, and how you can create value for your clients. Join the conversation 👉 https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateAgents #RealEstateBusiness #RelationshipBuilding #LongbridgeFinancial #Longbridge
Enrollment timing. Employer coverage. HSAs. Coverage transitions. If you’re a financial advisor, these are all places where your clients can make Medicare mistakes, and those mistakes can follow them through retirement. On October 28, Margo Steinlage Kreider, J.D., of Steinlage Insurance Agency will show you how to spot common Medicare pitfalls so you can help your clients avoid them. 💡 Register now for this CE-eligible session: https://attendee.gotowebinar.com/register/8346617525155120470?source=LoanOfficer #Medicare #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
About Me
Hello, I am your local Reverse Mortgage Professional. I am honored to be working with the senior community. I have several years of experience in the reverse mortgage space, focusing on Home Equity Conversion Mortgages and other home equity solutions. I am committed to helping seniors find better retirement solutions and am excited to bring my honesty, compassion and education to senior homeowners. I bring an in-depth understanding of the reverse mortgage process and how the loan works. Branch Address: 61 South Paramus Road Suite 500, Paramus, NJ 07652; Branch NMLS #: 957935; Phone #: 973-670-5233. Licensed by the New Jersey Department of Banking and Insurance.