If you’re one of the many homeowners wishing to “age in place” – remaining in the comfort of your beloved home as you grow older – ensuring that your house is safe, accessible, and comfortable becomes a priority. One financial tool that can help achieve this goal is a reverse mortgage, which can be particularly useful for making necessary home repairs, modifications, and even upgrades!  Funds from a reverse mortgage can be used however you wish, so you can put them to work to cover a wide range of projects, including smaller accessibility modifications like installing ramps, widening doo ..read more

In today’s unpredictable economy, financial security and smart planning are more crucial than ever, especially for retirees adjusting to life on a fixed or reduced income. Fortunately, even if your retirement portfolio isn’t as robust as you’d like, there’s a valuable resource you might be overlooking: home equity. With today’s seniors accounting for record amounts of home equity, you may be surprised to see just how much wealth is built up in your home. By tapping into a portion of this equity with a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, you could significa ..read more

Great news for Florida residents!   Governor Ron DeSantis recently signed House Bill (HB) 7073 into law, effective July 1, 2024, which changes some requirements for reverse mortgages in Florida. One of the significant changes involves the “documentary stamp tax,” that applies to real estate documents, including mortgages.  Previously, if you took out a reverse mortgage on a property in the state of Florida, the documentary stamp tax was applied to the total mortgage lien amount, even if you couldn’t access that full amount. This often resulted in taxes being assessed on amounts ..read more

Global credit rating agency DBRS, Inc. (Morningstar DBRS) has confirmed its MOR RVO2 residential reverse mortgage originator ranking for Paramus, NJ-based reverse mortgage lender, Longbridge Financial. Morningstar also affirmed that the trend for this ranking remains Stable.   To quote Morningstar, this ranking “reflects Longbridge’s experienced and tenured senior management team and experienced underwriting staff, strong underwriting practices, targeted origination channels with comprehensive approval and monitoring practices for third-party originators, focused risk and compliance cultu ..read more

Welcome to “Ask the Pros” – where your questions meet the wisdom of those who understand the ins and outs of reverse mortgages! If you have questions about unlocking the power of your home equity, navigating the ins and outs of reverse mortgages, or making informed decisions about your financial future, you’re in the right place. In this exclusive series, we tap into insights and expertise directly from our wonderful team members at Longbridge Financial who are helping to shape the reverse mortgage industry each day. Our team of seasoned professionals are committed to fielding common questions ..read more

Longbridge is proud to announce that we have been recognized by Fortune as one of the best “small and medium workplaces” in New York for 2024! This accolade is a testament to our commitment to fostering a supportive and innovative work environment, driven by the collective efforts of our outstanding team. Our inclusion in this esteemed list is based on rigorous data science analysis conducted by Great Place to Work®️, which considers various aspects of workplace culture, employee satisfaction, and organizational excellence. This achievement underscores our dedication to creating a workplace wh ..read more

We are excited to share that, for the second consecutive year, our very own CEO and co-founder, Chris Mayer, has been honored with a prestigious Inman Best of Finance award for 2024. This achievement recognizes Chris’s unwavering dedication, exceptional leadership, and pioneering vision in the financial sector, with Inman’s annual award acknowledging the most influential figures, newsmakers, and market leaders in the mortgage and finance sectors. Chris’s consistent recognition underscores his significant contributions and remarkable impact on the industry at large. This award is a moment of pr ..read more

“Home is where the heart is,” they say. But did you know it’s also where a significant portion of wealth lies? With home equity often representing a substantial chunk of total wealth, it’s no wonder retirees eye it as a potential source to bolster their retirement funds. Yet, despite the allure, there’s a divide in the air. While some seniors entertain the idea of tapping into this wealth through a Home Equity Conversion Mortgage (HECM), better known as a reverse mortgage, others remain wary. Years of misconception and a somewhat tarnished reputation have left many on the fence about exploring ..read more

Aah, you’ve finally reached the age where your children have grown up and your parents have settled into their golden years. For many, achieving this feat represents a proud accomplishment and signifies more free time to pursue professional opportunities and personal passions.   However, this time period is not always a sigh of relief for everyone. In fact, depending on the needs and ages of your children and parents, you may find yourself taking on additional caregiving duties. The term coined for this peer group faced with caring for both sides of the family tree is the “Sandwich G ..read more

A reverse mortgage can offer access to the funds you need to “age in place.”  As the Baby Boomer generation keeps rolling into retirement, there’s a seismic shift happening in how we envision our golden years. With over 11,000 Americans turning 65 every day through 2027,1 their next chapter is being marked by a new anthem: independence. Today’s retirees want to stay put, plain and simple, in the cozy confines of the homes they’ve made countless memories in. According to a report from the University of Michigan, a majority of Americans (88%) reported that aging in place – remaining in thei ..read more