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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🌎🌱 Happy Earth Day! Let’s celebrate the place we all call home: our planet. Whether you're planting a tree, reducing waste, or simply enjoying the beauty of nature, every small action makes a big difference. Here’s to creating a greener future together! #EarthDay #OurPowerOurPlanet
🐰 Happy Easter! Did you know that the colorful eggs that have come to be a part of this holiday were originally thought to represent new life and rebirth? Wishing you an egg-stra special and delightful Easter celebration this year! 🐣 #HappyEaster
Ladies Who Lead: Andrea Rodriguez
We’re continuing our Women’s History Month celebration by spotlighting the inspiring women who lead, mentor, and uplift those around them! 🎉 In our latest "Ladies Who Lead" blog, we’re thrilled to feature Andrea Rodriguez, PMP, CBAP, Senior Business Analyst at Longbridge Financial. Andrea shares her thoughts on the impact of historical women, the invaluable lessons from her mother, and her advice for women navigating male-dominated industries. Her biggest takeaway? Success isn’t about fitting into a mold—it’s about embracing who you are. 💡💪 Read Andrea’s full Q&A: https://longbridge-financial.com/blog/ladies-who-lead-series/ladies-who-lead-andrea-rodriguez/?agent=1 #WomensHistoryMonth #LadiesWhoLead #MovingForwardTogether #Longbridge #LongbridgeFinancial #blog #blogseries
Financial Literacy Month: Unlocking the Power of Your Home Equity
Financial planning isn’t just about saving—it’s about knowing all your options. In honor of Financial Literacy Month, we’re exploring how a reverse mortgage can help you strengthen your financial strategy and enjoy retirement on your terms. 🏡 Read more in our blog! #FinancialLiteracyMonth #FinancialLiteracy #Longbridge #LongbridgeFinancial #ReverseMortgage #HomeEquity
Whether it's rightsizing, relocating, or finding that forever home, today's older buyers are looking for flexible options to make it happen. Reverse for Purchase financing might be the perfect solution! Help more of your buyers purchase a home that checks all their boxes without compromising their financial flexibility. Check out our infographic for feedback and insights from real Reverse for Purchase borrowers 👉 https://online.flippingbook.com/view/343643894/
Take a minute to think of your ideal retirement home. Is it smaller? In a warmer climate? Minimal maintenance? Closer to loved ones, family and friends? Whatever it may be, a Reverse for Purchase may be able to help you get there – and much more easily than you may have originally thought. 📞 Contact me to learn more about this powerful home financing option designed with older adults in mind. #Longbridge #homeownership #retirement #reversemortgage #mortgage #homepurchase #homebuying
🌎🌱 Happy Earth Day! Let’s celebrate the place we all call home: our planet. Whether you're planting a tree, reducing waste, or simply enjoying the beauty of nature, every small action makes a big difference. Here’s to creating a greener future together! #EarthDay #OurPowerOurPlanet
🐰 Happy Easter! Did you know that the colorful eggs that have come to be a part of this holiday were originally thought to represent new life and rebirth? Wishing you an egg-stra special and delightful Easter celebration this year! 🐣 #HappyEaster
Ladies Who Lead: Andrea Rodriguez
We’re continuing our Women’s History Month celebration by spotlighting the inspiring women who lead, mentor, and uplift those around them! 🎉 In our latest "Ladies Who Lead" blog, we’re thrilled to feature Andrea Rodriguez, PMP, CBAP, Senior Business Analyst at Longbridge Financial. Andrea shares her thoughts on the impact of historical women, the invaluable lessons from her mother, and her advice for women navigating male-dominated industries. Her biggest takeaway? Success isn’t about fitting into a mold—it’s about embracing who you are. 💡💪 Read Andrea’s full Q&A: https://longbridge-financial.com/blog/ladies-who-lead-series/ladies-who-lead-andrea-rodriguez/?agent=1 #WomensHistoryMonth #LadiesWhoLead #MovingForwardTogether #Longbridge #LongbridgeFinancial #blog #blogseries
Financial Literacy Month: Unlocking the Power of Your Home Equity
Financial planning isn’t just about saving—it’s about knowing all your options. In honor of Financial Literacy Month, we’re exploring how a reverse mortgage can help you strengthen your financial strategy and enjoy retirement on your terms. 🏡 Read more in our blog! #FinancialLiteracyMonth #FinancialLiteracy #Longbridge #LongbridgeFinancial #ReverseMortgage #HomeEquity
Whether it's rightsizing, relocating, or finding that forever home, today's older buyers are looking for flexible options to make it happen. Reverse for Purchase financing might be the perfect solution! Help more of your buyers purchase a home that checks all their boxes without compromising their financial flexibility. Check out our infographic for feedback and insights from real Reverse for Purchase borrowers 👉 https://online.flippingbook.com/view/343643894/
Take a minute to think of your ideal retirement home. Is it smaller? In a warmer climate? Minimal maintenance? Closer to loved ones, family and friends? Whatever it may be, a Reverse for Purchase may be able to help you get there – and much more easily than you may have originally thought. 📞 Contact me to learn more about this powerful home financing option designed with older adults in mind. #Longbridge #homeownership #retirement #reversemortgage #mortgage #homepurchase #homebuying
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.