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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🎓 Financial Professionals Earn CE Credit 🎓 Navigating today’s real estate market can be daunting for your older clients. Reverse mortgage for purchase financing might be the key they need to unlock better housing options. Join Longbridge Purchase & Builder Sales Leader, Rob Cooper, for a complimentary CE webinar and discover how this financial tool can benefit your older clients. Attendee will learn: ✅ Insights on reverse for purchase financing vs. traditional financing ✅ Benefits including seller concessions and non-recourse features ✅ Ways to enhance liquidity and safeguard portfolios while buying a new home ✅ Why older buyers prefer this method to increase their housing choices REGISTER NOW >> https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
As more older Americans retire and buy homes that better suit their lifestyles, Reverse for Purchase financing offers a unique opportunity to grow your business. Yet, only 33% of real estate and mortgage professionals are talking about it with their clients. Don’t miss out! Dive into our report with HousingWire to learn how this tool can boost purchasing power for seniors and create more business for you. Access the Report 👉 https://lbfreverse.co/addressing-the-lack-of-understanding-around-reverse-for-purchase #SeniorHousingMarket #ReverseMortgage #ClientGrowth #RealEstateSuccess #SeniorClients #Longbridge #HousingWire
[Complimentary CE Webinar for Financial Pros] Are your older clients struggling with finding a suitable home for retirement due to high costs and limited options? There’s a powerful yet underutilized home financing solution at your fingertips – the reverse mortgage for purchase. Join us for a complimentary CE webinar to explore how reverse mortgage for purchase can transform the buying experience for your age-qualified clients. Secure your spot: https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
Reverse for Purchase can transform your business, but it’s still underutilized. Our research with HousingWire shows 41% of real estate and mortgage professionals don’t talk to clients about it because they aren’t familiar enough with this home financing option. We’re here to change that. Get the facts, bust the myths, and help seniors secure the home of their dreams with this powerful financial tool. Access the Report 👉 https://lbfreverse.co/addressing-the-lack-of-understanding-around-reverse-for-purchase #ReverseMortgageMyths #RealEstatePros #MortgagePros #HousingTrends #RetirementPlanning #Longbridge #HousingWire
From all of us at Longbridge Financial, we sincerely thank all Veterans for their service to our country. #VeteransDay
Join us for an insightful CE webinar on a powerful financial tool that can help your older clients navigate today’s challenging real estate market. With unpredictable interest rates, escalating property costs, and a shortage of 'aging-ready' housing, finding the right home for retirement can be tough. But there's a solution – reverse mortgage for purchase. Don't miss out! Register now: https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
🎓 Financial Professionals Earn CE Credit 🎓 Navigating today’s real estate market can be daunting for your older clients. Reverse mortgage for purchase financing might be the key they need to unlock better housing options. Join Longbridge Purchase & Builder Sales Leader, Rob Cooper, for a complimentary CE webinar and discover how this financial tool can benefit your older clients. Attendee will learn: ✅ Insights on reverse for purchase financing vs. traditional financing ✅ Benefits including seller concessions and non-recourse features ✅ Ways to enhance liquidity and safeguard portfolios while buying a new home ✅ Why older buyers prefer this method to increase their housing choices REGISTER NOW >> https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
As more older Americans retire and buy homes that better suit their lifestyles, Reverse for Purchase financing offers a unique opportunity to grow your business. Yet, only 33% of real estate and mortgage professionals are talking about it with their clients. Don’t miss out! Dive into our report with HousingWire to learn how this tool can boost purchasing power for seniors and create more business for you. Access the Report 👉 https://lbfreverse.co/addressing-the-lack-of-understanding-around-reverse-for-purchase #SeniorHousingMarket #ReverseMortgage #ClientGrowth #RealEstateSuccess #SeniorClients #Longbridge #HousingWire
[Complimentary CE Webinar for Financial Pros] Are your older clients struggling with finding a suitable home for retirement due to high costs and limited options? There’s a powerful yet underutilized home financing solution at your fingertips – the reverse mortgage for purchase. Join us for a complimentary CE webinar to explore how reverse mortgage for purchase can transform the buying experience for your age-qualified clients. Secure your spot: https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
Reverse for Purchase can transform your business, but it’s still underutilized. Our research with HousingWire shows 41% of real estate and mortgage professionals don’t talk to clients about it because they aren’t familiar enough with this home financing option. We’re here to change that. Get the facts, bust the myths, and help seniors secure the home of their dreams with this powerful financial tool. Access the Report 👉 https://lbfreverse.co/addressing-the-lack-of-understanding-around-reverse-for-purchase #ReverseMortgageMyths #RealEstatePros #MortgagePros #HousingTrends #RetirementPlanning #Longbridge #HousingWire
From all of us at Longbridge Financial, we sincerely thank all Veterans for their service to our country. #VeteransDay
Join us for an insightful CE webinar on a powerful financial tool that can help your older clients navigate today’s challenging real estate market. With unpredictable interest rates, escalating property costs, and a shortage of 'aging-ready' housing, finding the right home for retirement can be tough. But there's a solution – reverse mortgage for purchase. Don't miss out! Register now: https://attendee.gotowebinar.com/register/7474977467528490586?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #reversemortgage #homefinancing #reverseforpurchase
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.