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
Today is National Senior Citizens Day! Let’s take a moment to celebrate the older adults who enrich our families and communities with their wisdom, warmth, and lasting impact. We are grateful for all they bring into our lives. #NationalSeniorCitizensDay
🌟 Reverse for Purchase: More Than a Loan, It's a Lifestyle Upgrade 🌟 According to an anonymous survey of our reverse for purchase borrowers, 4 in 5 reported that this home financing tool has improved their lifestyle and financial flexibility. Do your clients have the freedom to enjoy retirement, manage their expenses, and live life on their terms in a home they love? If you’re not presenting reverse for purchase financing as an option to your clients, you could be missing out on a chance to make a real difference in their future. Check out our in-depth webzine to explore how reverse for purchase can elevate your business—and your clients' lives! https://online.flippingbook.com/view/869605166/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #customersatisfaction #borrowersurvey #housingmarket
Today we honor the Baby Boomer generation—whose insight, resilience, and life experience have helped shape the world around us. 🎉 Join us in showing appreciation for their leadership and continuous inspiration and guidance. #BabyBoomersRecognitionDay #BabyBoomers #Longbridge #LongbridgeFinancial
Does helping your clients navigate the current real estate market feel like walking a tightrope? If you have clients who are 62 or older, Reverse for Purchase financing can be a major game-changer in today's housing market! 🔗Read our blog to learn more about using a reverse mortgage to help your older buyers secure their next home: https://longbridge-financial.com/blog/reverse-mortgages/3-reasons-why-borrowers-are-backing-out-of-home-purchases/?agent=1/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #housingmarket #blog
It's no secret that, for your buyers in or nearing retirement, this stage of life can come with a new set of financial challenges – particularly when it comes to financing a new home purchase. That’s where the Reverse for Purchase comes in! This alternative funding solution can help your older buyers secure their dream home for retirement without compromising their financial security. 🏘️ Give your clients an advantage when it comes to purchasing a new home that fits their evolving lifestyle – and their budget. Learn more about how you can open up more inventory and expand your real estate business with Reverse for Purchase financing: https://online.flippingbook.com/view/138905650/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #housingmarket
🚨 Last Chance to Register 🚨 Join Marguerita M. Cheng, CFP®️, tomorrow for “CFP Ethics: A Practical Application of CFP Board's Code and Standards” to earn two CE Ethics credits. 🔗 https://attendee.gotowebinar.com/register/4582982624000100695?source=LO #CFPEthics #LastChance #CECredit #CFP #Webinar #EthicsCE #FinancialProfessionals #FinancialPlanning #CEEthics
Today is National Senior Citizens Day! Let’s take a moment to celebrate the older adults who enrich our families and communities with their wisdom, warmth, and lasting impact. We are grateful for all they bring into our lives. #NationalSeniorCitizensDay
🌟 Reverse for Purchase: More Than a Loan, It's a Lifestyle Upgrade 🌟 According to an anonymous survey of our reverse for purchase borrowers, 4 in 5 reported that this home financing tool has improved their lifestyle and financial flexibility. Do your clients have the freedom to enjoy retirement, manage their expenses, and live life on their terms in a home they love? If you’re not presenting reverse for purchase financing as an option to your clients, you could be missing out on a chance to make a real difference in their future. Check out our in-depth webzine to explore how reverse for purchase can elevate your business—and your clients' lives! https://online.flippingbook.com/view/869605166/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #customersatisfaction #borrowersurvey #housingmarket
Today we honor the Baby Boomer generation—whose insight, resilience, and life experience have helped shape the world around us. 🎉 Join us in showing appreciation for their leadership and continuous inspiration and guidance. #BabyBoomersRecognitionDay #BabyBoomers #Longbridge #LongbridgeFinancial
Does helping your clients navigate the current real estate market feel like walking a tightrope? If you have clients who are 62 or older, Reverse for Purchase financing can be a major game-changer in today's housing market! 🔗Read our blog to learn more about using a reverse mortgage to help your older buyers secure their next home: https://longbridge-financial.com/blog/reverse-mortgages/3-reasons-why-borrowers-are-backing-out-of-home-purchases/?agent=1/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #housingmarket #blog
It's no secret that, for your buyers in or nearing retirement, this stage of life can come with a new set of financial challenges – particularly when it comes to financing a new home purchase. That’s where the Reverse for Purchase comes in! This alternative funding solution can help your older buyers secure their dream home for retirement without compromising their financial security. 🏘️ Give your clients an advantage when it comes to purchasing a new home that fits their evolving lifestyle – and their budget. Learn more about how you can open up more inventory and expand your real estate business with Reverse for Purchase financing: https://online.flippingbook.com/view/138905650/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #housingmarket
🚨 Last Chance to Register 🚨 Join Marguerita M. Cheng, CFP®️, tomorrow for “CFP Ethics: A Practical Application of CFP Board's Code and Standards” to earn two CE Ethics credits. 🔗 https://attendee.gotowebinar.com/register/4582982624000100695?source=LO #CFPEthics #LastChance #CECredit #CFP #Webinar #EthicsCE #FinancialProfessionals #FinancialPlanning #CEEthics
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.