Your Hometown Reverse Mortgage Consultant residing in Bloomfield, NJ
Your Hometown Reverse Mortgage Consultant residing 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 residing in Bloomfield, NJ
Your Hometown Reverse Mortgage Consultant residing 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 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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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.
Let’s Get Social
⏰ Last Chance to Register! ⏰ Our next CE webinar is happening May 21 at 1 PM ET, and you don’t want to miss it! Learn more about this free CE-eligible session and get registered: https://attendee.gotowebinar.com/register/8870928429286932822?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #CEwebinar #webinar #financialplanning #graydivorce
HECM for Purchase - How You Can Buy a House with a Reverse Mortgage
Do you have older buyers ready to make the move to their retirement dream home? Discover the benefits of Reverse for Purchase financing – your clients can secure the funding they need and the financial flexibility they deserve. 🔑Check out our blog – and feel free to share it with your clients – for the full scoop on how your older buyers can purchase their next home using a reverse mortgage: https://longbridge-financial.com/blog/reverse-mortgages/hecm-for-purchase-how-you-can-buy-a-house-with-a-reverse-mortgage/?agent=1/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #housingmarket
Considering a new home for your golden years? Don't overlook key factors for seniors! 🔑 Explore different living options, consider locations wisely, and think about accessibility and amenities conducive for aging in place. Read our blog for four important factors when investing in your forever home: https://longbridge-financial.com/blog/reverse-mortgages/4-factors-to-consider-before-investing-in-your-forever-home/?agent=1/ #Longbridge #homeownership #retirement #reversemortgage #mortgage #homepurchase #homebuying #blog #aginginplace
📢 Financial Professionals: Attend Our Webinar and Earn CE Credit 📢 Gray divorce is on the rise—and it’s changing the way financial professionals approach retirement planning. Join us for a special session with Nancy Hetrick, CDFA®️, MAFF®️, AWMA®️, as she shares practical tools and strategies for helping clients navigate later-in-life divorce transitions with clarity and confidence. 🗓️ May 21 | 1–2 PM ET ✅ 1 CE credit available 🔗 https://attendee.gotowebinar.com/register/8870928429286932822?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #graydivorce
Ask the Pros: Power of Attorney
🧐 Can a power of attorney be used to get a reverse mortgage? Yes—but there’s more to the story! In the latest installment of our "Ask the Pros" blog series, Marcus Loglisci, Senior Legal Counsel for Longbridge, breaks down what you need to know—including how the process works, who is responsible for the loan, and who can access the funds. Read the full Q&A to learn more! #ReverseMortgage #PowerofAttorney #AskthePros #blog #blogseries #Longbridge #LongbridgeFinancial
[CE Webinar for Financial Pros] When "forever" ends after 50, the financial fallout can be complex. Don’t miss this opportunity to learn from Nancy Hetrick, an expert in divorce financial planning, as she unpacks the unique challenges of gray divorce and how to guide clients through them. ➡️ Save your spot: https://attendee.gotowebinar.com/register/8870928429286932822?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #CEwebinar #webinar #financialplanning #graydivorce
⏰ Last Chance to Register! ⏰ Our next CE webinar is happening May 21 at 1 PM ET, and you don’t want to miss it! Learn more about this free CE-eligible session and get registered: https://attendee.gotowebinar.com/register/8870928429286932822?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #CEwebinar #webinar #financialplanning #graydivorce
HECM for Purchase - How You Can Buy a House with a Reverse Mortgage
Do you have older buyers ready to make the move to their retirement dream home? Discover the benefits of Reverse for Purchase financing – your clients can secure the funding they need and the financial flexibility they deserve. 🔑Check out our blog – and feel free to share it with your clients – for the full scoop on how your older buyers can purchase their next home using a reverse mortgage: https://longbridge-financial.com/blog/reverse-mortgages/hecm-for-purchase-how-you-can-buy-a-house-with-a-reverse-mortgage/?agent=1/ #homeownership #ReverseforPurchase #reversemortgage #HECM #HECMforPurchase #mortgage #homepurchase #homebuying #realestate #Longbridge #LongbridgeFinancial #housingmarket
Considering a new home for your golden years? Don't overlook key factors for seniors! 🔑 Explore different living options, consider locations wisely, and think about accessibility and amenities conducive for aging in place. Read our blog for four important factors when investing in your forever home: https://longbridge-financial.com/blog/reverse-mortgages/4-factors-to-consider-before-investing-in-your-forever-home/?agent=1/ #Longbridge #homeownership #retirement #reversemortgage #mortgage #homepurchase #homebuying #blog #aginginplace
📢 Financial Professionals: Attend Our Webinar and Earn CE Credit 📢 Gray divorce is on the rise—and it’s changing the way financial professionals approach retirement planning. Join us for a special session with Nancy Hetrick, CDFA®️, MAFF®️, AWMA®️, as she shares practical tools and strategies for helping clients navigate later-in-life divorce transitions with clarity and confidence. 🗓️ May 21 | 1–2 PM ET ✅ 1 CE credit available 🔗 https://attendee.gotowebinar.com/register/8870928429286932822?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #financialplanning #graydivorce
Ask the Pros: Power of Attorney
🧐 Can a power of attorney be used to get a reverse mortgage? Yes—but there’s more to the story! In the latest installment of our "Ask the Pros" blog series, Marcus Loglisci, Senior Legal Counsel for Longbridge, breaks down what you need to know—including how the process works, who is responsible for the loan, and who can access the funds. Read the full Q&A to learn more! #ReverseMortgage #PowerofAttorney #AskthePros #blog #blogseries #Longbridge #LongbridgeFinancial
[CE Webinar for Financial Pros] When "forever" ends after 50, the financial fallout can be complex. Don’t miss this opportunity to learn from Nancy Hetrick, an expert in divorce financial planning, as she unpacks the unique challenges of gray divorce and how to guide clients through them. ➡️ Save your spot: https://attendee.gotowebinar.com/register/8870928429286932822?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #FinancialProfessional #CEcredit #CEwebinar #webinar #financialplanning #graydivorce
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.