Your Hometown Reverse Mortgage Consultant residing in Bethesda, MD
Your Hometown Reverse Mortgage Consultant residing in Bethesda,
MD
Licensed in Washington DC, Maryland, and Virginia
Steve Strauss
Your Hometown Reverse Mortgage Consultant residing in Bethesda, MD
Your Hometown Reverse Mortgage Consultant residing in Bethesda,
MD
Licensed in Washington DC, Maryland, and Virginia
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.
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
Reverse Mortgage: Senior Retirement Planning Tool?
While reverse mortgages were once seen as a financial tool of last resort, more and more financial advisors are realizing that it can actually be a useful retirement planning tool for seniors, as part of a comprehensive financial plan, to help make sure that people won’t outlive their money. Learn more in the article below.
Enrollment timing. Employer coverage. HSAs. Coverage transitions. If you’re a financial advisor, these are all places where your clients can make Medicare mistakes, and those mistakes can follow them through retirement. On October 28, Margo Steinlage Kreider, J.D., of Steinlage Insurance Agency will show you how to spot common Medicare pitfalls so you can help your clients avoid them. 💡 Register now for this CE-eligible session: https://attendee.gotowebinar.com/register/8346617525155120470?source=LoanOfficer #Medicare #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
Ask the Pros: How Interest Rates Affect Reverse Mortgages | Longbridge Financial, LLC
How do interest rates affect a reverse mortgage? 🤔 In the latest installment of our "Ask the Pros" blog series, Dan Ribler, VP of Capital Markets and Strategy for Longbridge, explains what really drives rates, how they affect what you can get from a reverse mortgage, and why reverse mortgage rates are different from traditional mortgage rates. Read the full Q&A: https://longbridge-financial.com/blog/reverse-mortgages/ask-the-pros-how-interest-rates-affect-reverse-mortgages/?agent=1 #AskThePros #ReverseMortgage #InterestRates #HomeEquity #LongbridgeFinancial
What if the biggest shift in retirement planning isn't how clients invest, but how they deploy the wealth they've already built? Inflation, healthcare costs, and taxes are exposing the limits of portfolio-only strategies. Join Stephen R. Pepe, Reverse Mortgage Consultant at Longbridge Financial, for a webinar on why home equity and other illiquid assets are becoming essential to coordinated retirement planning. ✅ Register: https://attendee.gotowebinar.com/register/4455396395631561820?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
🚨 Last chance to register! 🚨 Join us September 16 for the first session of our three-part series, “The Business Behind the Business: Building a Relationship-Driven Real Estate Practice.” Learn how a relationship-driven approach — and the right partner network — can help create greater opportunities for long-term growth. 👉 Register now https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateProfessionals #RelationshipBuilding #LongbridgeFinancial #Longbridge
What if your professional relationships could help you create more real estate opportunities — without simply adding more hours to your day? Join Billy Van Raaphorst of Buffini & Company and Rob Cooper of Longbridge Financial for the first conversation in The Business Behind the Business webinar series. Relational vs. Transactional Real Estate 📅 September 16 ⏰ 12 PM ET | 9 AM PT Explore why relationship-driven businesses have greater potential for long-term growth and how the right partner network can help multiply your time and ROI. 👉 Register here: https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateAgents #RealEstateBusiness #RelationshipBuilding #LongbridgeFinancial #Longbridge
Reverse Mortgage: Senior Retirement Planning Tool?
While reverse mortgages were once seen as a financial tool of last resort, more and more financial advisors are realizing that it can actually be a useful retirement planning tool for seniors, as part of a comprehensive financial plan, to help make sure that people won’t outlive their money. Learn more in the article below.
Enrollment timing. Employer coverage. HSAs. Coverage transitions. If you’re a financial advisor, these are all places where your clients can make Medicare mistakes, and those mistakes can follow them through retirement. On October 28, Margo Steinlage Kreider, J.D., of Steinlage Insurance Agency will show you how to spot common Medicare pitfalls so you can help your clients avoid them. 💡 Register now for this CE-eligible session: https://attendee.gotowebinar.com/register/8346617525155120470?source=LoanOfficer #Medicare #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
Ask the Pros: How Interest Rates Affect Reverse Mortgages | Longbridge Financial, LLC
How do interest rates affect a reverse mortgage? 🤔 In the latest installment of our "Ask the Pros" blog series, Dan Ribler, VP of Capital Markets and Strategy for Longbridge, explains what really drives rates, how they affect what you can get from a reverse mortgage, and why reverse mortgage rates are different from traditional mortgage rates. Read the full Q&A: https://longbridge-financial.com/blog/reverse-mortgages/ask-the-pros-how-interest-rates-affect-reverse-mortgages/?agent=1 #AskThePros #ReverseMortgage #InterestRates #HomeEquity #LongbridgeFinancial
What if the biggest shift in retirement planning isn't how clients invest, but how they deploy the wealth they've already built? Inflation, healthcare costs, and taxes are exposing the limits of portfolio-only strategies. Join Stephen R. Pepe, Reverse Mortgage Consultant at Longbridge Financial, for a webinar on why home equity and other illiquid assets are becoming essential to coordinated retirement planning. ✅ Register: https://attendee.gotowebinar.com/register/4455396395631561820?source=LoanOfficer #Longbridge #LongbridgeFinancial #webinar #CFP #CFPprofessional #FinancialProfessional #CEcredit #CEwebinar #FinancialPlanning #FinancialAdvisor #RetirementPlanning
🚨 Last chance to register! 🚨 Join us September 16 for the first session of our three-part series, “The Business Behind the Business: Building a Relationship-Driven Real Estate Practice.” Learn how a relationship-driven approach — and the right partner network — can help create greater opportunities for long-term growth. 👉 Register now https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateProfessionals #RelationshipBuilding #LongbridgeFinancial #Longbridge
What if your professional relationships could help you create more real estate opportunities — without simply adding more hours to your day? Join Billy Van Raaphorst of Buffini & Company and Rob Cooper of Longbridge Financial for the first conversation in The Business Behind the Business webinar series. Relational vs. Transactional Real Estate 📅 September 16 ⏰ 12 PM ET | 9 AM PT Explore why relationship-driven businesses have greater potential for long-term growth and how the right partner network can help multiply your time and ROI. 👉 Register here: https://attendee.gotowebinar.com/register/3009375877407884122?source=Loan+Officer #RealEstate #RealEstateAgents #RealEstateBusiness #RelationshipBuilding #LongbridgeFinancial #Longbridge
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. 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: 839 Bestgate Rd., Suite 179, Annapolis, MD 21401; Branch NMLS #: 2488293; Phone #: 551-264-5427