Your Hometown Reverse Mortgage Consultant based in Bloomfield, NJ
Your Hometown Reverse Mortgage Consultant based in Bloomfield,
NJ
Licensed in AR, CA, CO, CT, DE, FL, ID, IA, KS, LA, MD, MA, MI, MS, MT, NV, NH, NJ, NM, ND, OH, OK, OR, PA, RI, SC, TN, TX, UT, WA
Ryan Philip
Your Hometown Reverse Mortgage Consultant based in Bloomfield, NJ
Your Hometown Reverse Mortgage Consultant based in Bloomfield,
NJ
Licensed in AR, CA, CO, CT, DE, FL, ID, IA, KS, LA, MD, MA, MI, MS, MT, NV, NH, NJ, NM, ND, OH, OK, OR, PA, RI, SC, TN, TX, UT, WA
I’m proud to work with a company focused on one thing: educating seniors about reverse mortgages to help them unlock the power of their homes and live a more comfortable retirement. I’m a reverse mortgage professional and honored to serve the people of Bloomfield, NJ.
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 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 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: 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.
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Featured Video
Reverse Mortgage Success Story
“Best thing I could have done.” You’ve heard the myths: now hear a real story of how a reverse mortgage changed a life. Longbridge borrower, Ronnie, shares her story working with Ryan.
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This holiday season, give your clients something truly unique: access to greater reverse mortgage proceeds with Longbridge Platinum. With competitive pricing, high loan amounts, and a streamlined approval process, Platinum provides you with the flexibility and tools to serve more clients—and grow your business. 🎁 Together, we can deliver more value this season and beyond. #FinancialGoals #ReverseMortgage #RetirementPlanning #Longbridge #LongbridgeFinancial #LongbridgePlatinum #Jumbo
Fun Holiday Activities to do with the Grandkids
🎄 Ready to Make Holiday Magic with Your Grandkids? ✨ The holidays are the perfect time to create special memories with your grandchildren. From baking family-favorite treats and watching festive movies to exploring twinkling light displays and crafting homemade treasures, the possibilities for fun are endless! Looking for inspiration? 🎁 Our blog has 5 delightful activities to help you spread cheer, foster the spirit of giving, and embrace the joy of the season with the youngest members of your family. 🔗 Check out our blog and start planning your holiday fun today! https://longbridge-financial.com/blog/money-tips/fun-holiday-activities-to-do-with-the-grandkids/?agent=1 #holidays #happyholidays #grandkids #grandchildren #Longbridge #LongbridgeFinancial
Are you a CFP®️ looking to earn your required CE Ethics credits? Register now for our complimentary webinar on December 18, “CFP Board New Code of Ethics & Standards of Conduct,” and fulfill the CFP Board of Standards’ required learning objectives for the approved Ethics CE. Register now to earn 2 ethics CE credits >> https://attendee.gotowebinar.com/register/6950418062703200855?source=LoanOfficer #Longbridge #webinar #CFP #CFPprofessional #Ethics #FinancialProfessional #CEcredit #financialplanning
As families gather this holiday season, the warmth of staying in a cherished home becomes even more meaningful. For homeowners aged 62 and older, a reverse mortgage can help make aging in place a reality. By unlocking home equity, seniors can maintain independence, comfort, and connection.🎁 This season, let’s work together to give more homeowners the gift of staying home for the holidays—and every season after. #AginginPlace #ReverseMortgage #RetirementPlanning #Longbridge #LongbridgeFinancial #Homecare #HomeModifications
Navigating Holiday Spending: 5 Tips to Save This Season
Tis the season… to shop! 🎁 Learn how to manage your holiday budget without missing out on the joy and celebration. Head to our blog for 5 practical tips to navigate holiday spending with ease. 💸🎄 https://longbridge-financial.com/blog/reverse-mortgages/navigating-holiday-spending-5-tips-to-save-this-season/?agent=1 #HolidaySavings #BudgetTips #FestiveSeason #SmartSpending #LongbridgeFinancial #Longbridge
CFP®️ PROFESSIONALS EARN CE CREDITS Join Marguerita Cheng, CEO of Blue Ocean Global Wealth, for a complimentary webinar and earn two CE Ethics credits. Register now for “CFP Board New Code of Ethics & Standards of Conduct” taking place Wednesday, December 18! Get registered: https://attendee.gotowebinar.com/register/6950418062703200855?source=LoanOfficer #Longbridge #webinar #CFP #CFPprofessional #Ethics #FinancialProfessional #CEcredit #financialplanning
This holiday season, give your clients something truly unique: access to greater reverse mortgage proceeds with Longbridge Platinum. With competitive pricing, high loan amounts, and a streamlined approval process, Platinum provides you with the flexibility and tools to serve more clients—and grow your business. 🎁 Together, we can deliver more value this season and beyond. #FinancialGoals #ReverseMortgage #RetirementPlanning #Longbridge #LongbridgeFinancial #LongbridgePlatinum #Jumbo
Fun Holiday Activities to do with the Grandkids
🎄 Ready to Make Holiday Magic with Your Grandkids? ✨ The holidays are the perfect time to create special memories with your grandchildren. From baking family-favorite treats and watching festive movies to exploring twinkling light displays and crafting homemade treasures, the possibilities for fun are endless! Looking for inspiration? 🎁 Our blog has 5 delightful activities to help you spread cheer, foster the spirit of giving, and embrace the joy of the season with the youngest members of your family. 🔗 Check out our blog and start planning your holiday fun today! https://longbridge-financial.com/blog/money-tips/fun-holiday-activities-to-do-with-the-grandkids/?agent=1 #holidays #happyholidays #grandkids #grandchildren #Longbridge #LongbridgeFinancial
Are you a CFP®️ looking to earn your required CE Ethics credits? Register now for our complimentary webinar on December 18, “CFP Board New Code of Ethics & Standards of Conduct,” and fulfill the CFP Board of Standards’ required learning objectives for the approved Ethics CE. Register now to earn 2 ethics CE credits >> https://attendee.gotowebinar.com/register/6950418062703200855?source=LoanOfficer #Longbridge #webinar #CFP #CFPprofessional #Ethics #FinancialProfessional #CEcredit #financialplanning
As families gather this holiday season, the warmth of staying in a cherished home becomes even more meaningful. For homeowners aged 62 and older, a reverse mortgage can help make aging in place a reality. By unlocking home equity, seniors can maintain independence, comfort, and connection.🎁 This season, let’s work together to give more homeowners the gift of staying home for the holidays—and every season after. #AginginPlace #ReverseMortgage #RetirementPlanning #Longbridge #LongbridgeFinancial #Homecare #HomeModifications
Navigating Holiday Spending: 5 Tips to Save This Season
Tis the season… to shop! 🎁 Learn how to manage your holiday budget without missing out on the joy and celebration. Head to our blog for 5 practical tips to navigate holiday spending with ease. 💸🎄 https://longbridge-financial.com/blog/reverse-mortgages/navigating-holiday-spending-5-tips-to-save-this-season/?agent=1 #HolidaySavings #BudgetTips #FestiveSeason #SmartSpending #LongbridgeFinancial #Longbridge
CFP®️ PROFESSIONALS EARN CE CREDITS Join Marguerita Cheng, CEO of Blue Ocean Global Wealth, for a complimentary webinar and earn two CE Ethics credits. Register now for “CFP Board New Code of Ethics & Standards of Conduct” taking place Wednesday, December 18! Get registered: https://attendee.gotowebinar.com/register/6950418062703200855?source=LoanOfficer #Longbridge #webinar #CFP #CFPprofessional #Ethics #FinancialProfessional #CEcredit #financialplanning
About Me
Hello, my name is Ryan, your local Certified Reverse Mortgage Professional (CRMP). As a CRMP, I can help you understand everything about the reverse mortgage. I am passionate about helping seniors; and for the past 17 years I have dedicated my career to the reverse mortgage industry. I'm licensed in 30 states, and I have extensive knowledge in all areas of the business, including hands-on experience in origination and management.
I strongly believe in placing my clients' needs above any personal gain. I hate to see people being rushed or pressured into such large financial decisions. A reverse mortgage is a big decision and I understand that most often my client's home is their largest asset. Rest assured that I take this very seriously and I would rather walk
away from any business deal than make one for the wrong reasons.
I understand how important family is. I've been married for over 8 years to my lovely wife Katherine, who teaches 5th grade in Bloomfield, NJ. We share a 3-year-old son whom we are grateful for every day with.
Branch Address: 61 South Paramus Road, Suite 500, Paramus, NJ 07652.
Branch NMLS: 957935
Office Phone: 551-252-4597
Licensed by the California Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; Loans made or arranged pursuant to a California Financing Law license. For California consumers: For information about our privacy practices, please visit https://www.longbridge-financial.com/privacy. Kansas Originator License LO.0030927. Massachusetts Mortgage Lender Licensee No. ML957935. Licensed by the New Jersey Department of Banking and Insurance. Rhode Island Licensed Lender.
Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees, if applicable, may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property.