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What is a reverse mortgage?
HECM stands for home equity conversion mortgage. Reverse mortgages allow for seniors to release a portion of the home’s equity to eliminate any existing mortgage payments. HECM’s are unique in that there are no monthly mortgage payments required – no other program has this unique feature.
More than 600,000 seniors have taken out a reverse mortgage loan to improve their retirement, your not alone.
Compare HECM Lenders in NJ for free with RMLD – Let us find you the best program.
Seniors in NJ qualify for a reverse mortgage if…
- they are 62 years of age or older
- own their homes
- have equity available in the property
- can afford to pay for the home’s property taxes and insurance
- have never defaulted on governemnt insured loans
I qualify for the HECM reverse mortgage how does this program improve my retirement?
- improve your retirement qualify by having access to your equity today
- no more mortgage payments while you are living in the home
- interest rates are at all time low’s
- ability to spend the equity as you wish – no restrictions are placed on the funds
- no taxes are applied to the equity you release
“There is no other program which allows seniors to access their home’s equity without having payment in retirement.”
How Does the Reverse Mortgage Work in New Jersey?
You have worked hard your entire life to build up your home’s equity, insn’t it time that your home paid you back? Well, FHA (Federal Housing Administration) insures the HECM reverse mortgage which allows you to use your home as a tool to fund your retirement.
Many seniors are still having to pay each month a mortgage payment this is seriously impacting the quality of those seniors retirement. What if you could use all the built up equity in your home to generate a new income source, this would greatly improve the quality of your retirement.
This is what the reverse mortgage program was designed for. Seniors are taking advantage of the low interest rate enviroment and the ability to qualify for a reverse mortgage loan without having income or credit scores to meet. There are no payments to be made (you are only responsible for the property taxes, insurance, and home maintanance expenses). It will cost you $0 to find our your options give us a call today.
Snapshot of New Jersey
8.7 M
Population
$170,800
Median Home Value
66%
Home Ownership Rate
14%
Percent PopulationOver 65
Find Your City to Compare State and National Averages
| LOCATION | POPULATION | MED. HOME VALUE | HOME OWNERSHIP RATE | % POPULATION OVER 65 |
|---|---|---|---|---|
| USA | 307,006,550 | $119,600 | 66% | 13% |
| New Jersey | 8,707,739 | $170,800 | 66% | 14% |
| Atlantic City | 39,958 | $87,500 | 29% | 14% |
| Bayonne | 58,844 | $155,600 | 40% | 17% |
| Bergenfield | 26,194 | $184,400 | 71% | 14% |
| Camden | 79,318 | $40,700 | 46% | 8% |
| Clifton | 79,606 | $181,600 | 61% | 18% |
| East Orange | 67,247 | $122,000 | 27% | 11% |
| Elizabeth | 126,179 | $143,000 | 30% | 10% |
| Englewood | 27,824 | $212,400 | 59% | 13% |
| Fair Lawn | 31,246 | $218,000 | 80% | 19% |
| Fort Lee | 37,008 | $287,000 | 56% | 20% |
| Garfield | 29,644 | $161,500 | 40% | 14% |
| Hackensack | 43,671 | $187,300 | 32% | 13% |
| Hoboken | 39,853 | $428,900 | 23% | 9% |
| Jersey City | 241,789 | $125,000 | 28% | 10% |
| Kearny | 38,008 | $158,200 | 48% | 11% |
| Linden | 39,874 | $148,800 | 59% | 16% |
| Long Branch | 32,314 | $135,300 | 42% | 13% |
| Millville | 28,194 | $86,700 | 64% | 13% |
| New Brunswick | 50,172 | $122,600 | 26% | 7% |
| Newark | 281,402 | $119,000 | 24% | 9% |
| Paramus | 26,548 | $284,800 | 91% | 22% |
| Passaic | 67,974 | $153,000 | 27% | 8% |
| Paterson | 148,708 | $137,500 | 32% | 8% |
| Perth Amboy | 48,607 | $126,200 | 41% | 10% |
| Plainfield | 47,353 | $137,500 | 50% | 9% |
| Rahway | 27,843 | $142,600 | 63% | 15% |
| Sayreville | 42,560 | $153,400 | 68% | 12% |
| Trenton | 83,923 | $65,500 | 46% | 11% |
| Union City | 63,930 | $141,000 | 18% | 10% |
| Vineland | 58,271 | $97,200 | 66% | 14% |
| West New York | 46,398 | $218,400 | 20% | 13% |
| Westfield | 29,944 | $346,000 | 82% | 14% |
Find a Local Reverse Mortgage Lender/Bank/Broker in New Jersey
A
Aberdeen · Absecon · Adelphia · Allamuchy · Allendale · Allenhurst · Allentown · Allenwood · Alloway · Alpha · Alpine · Andover · Annandale · Asbury · Asbury Park · Atco · Atlantic City · Atlantic Highlands · Audubon · Augusta · Avalon · Avenel · Avon by Sea · Avon by the Sea
B
Baptistown · Barnegat · Barnegat Light · Barrington · Basking Ridge · Batsto · Bay Head · Bayonne · Bayville · Beach Haven · Beachwood · Bedminster · Belford · Belle Mead · Belleville · Bellmawr · Belmar · Belvidere · Bergenfield · Berkeley Heights · Berlin · Berlin Township · Bernardsville · Beverly · Birmingham · Blackwood · Blackwood Terrace · Blairstown · Blawenburg · Bloomfield · Bloomingdale · Bloomsbury · Bogota · Boonton · Boonton Township · Boonton Twp · Bordentown · Bound Brook · Bradley Beach · Branchburg · Branchville · Brick · Bridgeport · Bridgeton · Bridgewater · Brielle · Brigantine · Broadway · Brooklawn · Brookside · Browns Mills · Budd Lake · Buena · Burlington · Burlington City · Burlington Township · Butler · Buttzville · Byram Township
C
Caldwell · Califon · Camden · Cape May · Cape May Court House · Cape May Point · Carlstadt · Carneys Point · Carteret · Cedar Brook · Cedar Grove · Cedar Knolls · Cedarville · Changewater · Chatham · Chatham Twp · Chatsworth · Cherry Hill · Chesilhurst · Chester · Chesterfield · Cinnaminson · Clark · Clarksboro · Clarksburg · Clayton · Clementon · Cliffside Park · Cliffwood · Clifton · Clinton · Closter · Collingswood · Cologne · Colonia · Colts Neck · Columbia · Columbus · Convent Station · Cookstown · Corbin City · Cranbury · Cranford · Cream Ridge · Cresskill · Crosswicks
D
Dayton · Deal · Deepwater · Deerfield Street · Del Haven · Delair · Delanco · Delaware · Delmont · Delran · Demarest · Dennisville · Denville · Deptford · Dividing Creek · Dorchester · Dorothy · Dover · Dumont · Dunellen
E
East Brunswick · East Hanover · East Millstone · East Newark · East Orange · East Rutherford · East Windsor · Eastampton · Eastampton Township · Eatontown · Edgewater · Edgewater Park · Edison · Egg Harbor City · Egg Harbor Township · Elizabeth · Elizabethport · Elmer · Elmwood Park · Elwood · Emerson · Englewood · Englewood Cliffs · Englishtown · Erial · Essex Fells · Estell Manor · Evesham · Ewan · Ewing
F
Fair Haven · Fair Lawn · Fairfield · Fairton · Fairview · Fanwood · Far Hills · Farmingdale · Fieldsboro · Flagtown · Flanders · Flemington · Florence · Florham Park · Fords · Forked River · Fort Dix · Fort Lee · Fort Monmouth · Fortescue · Franklin · Franklin Lakes · Franklin Park · Franklinville · Fredon Township · Freehold · Frenchtown
G
Galloway · Garfield · Garwood · Gibbsboro · Gibbstown · Gillette · Gladstone · Glassboro · Glasser · Glen Gardner · Glen Ridge · Glen Rock · Glendora · Glenwood · Gloucester City · Goshen · Great Meadows · Green Brook · Green Creek · Green Township · Green Village · Greendell · Greenwich · Grenloch · Greystone Park · Guttenberg
H
Hackensack · Hackettstown · Haddon Heights · Haddon Township · Haddonfield · Hainesport · Hainesport Township · Haledon · Hamburg · Hamilton · Hamilton Square · Hammonton · Hampton · Hancocks Bridge · Hardwick · Hardyston · Harrington Park · Harrison · Harrisonville · Harvey Cedars · Hasbrouck Heights · Haskell · Haworth · Hawthorne · Hazlet · Heislerville · Helmetta · Hewitt · Hi Nella · Hibernia · High Bridge · Highland Lakes · Highland Park · Highlands · Hightstown · Hillsborough · Hillsdale · Hillside · Ho Ho Kus · Hoboken · Holmdel · Hopatcong · Hope · Hopelawn · Hopewell · Howell
I
Imlaystown · Industrial Hillside · Interlaken · Ironia · Irvington · Iselin · Island Heights
J
Jackson · Jamesburg · Jersey City · Jobstown · Johnsonburg · Juliustown
K
Keansburg · Kearny · Keasbey · Kendall Park · Kenilworth · Kenvil · Keyport · Kingston · Kinnelon · Kirkwood
L
Lafayette · Lake Como · Lake Hiawatha · Lake Hopatcong · Lakehurst · Lakewood · Lambertville · Landing · Landisville · Lanoka Harbor · Laurel Springs · Laurence Harbor · Lavallette · Lawnside · Lawrence · Lawrence Township · Lawrenceville · Layton · Lebanon · Ledgewood · Leeds Point · Leesburg · Leonardo · Leonia · Liberty Corner · Lincoln Park · Lincroft · Linden · Lindenwold · Linwood · Little Egg Harbor · Little Egg Harbor Twp · Little Falls · Little Ferry · Little Silver · Little York · Livingston · Loch Arbour · Locust · Lodi · Logan Township · Long Beach · Long Beach Township · Long Branch · Long Valley · Longport · Lumberton · Lumberton Township · Lyndhurst · Lyons
M
Madison · Magnolia · Mahwah · Malaga · Manahawkin · Manalapan · Manasquan · Manchester · Manchester Township · Mannington · Mantoloking · Mantua · Manville · Maple Shade · Maplewood · Margate City · Marlboro · Marlton · Marmora · Martinsville · Matawan · Mauricetown · Mays Landing · Maywood · Mc Afee · Mc Guire AFB · McKee City · Medford · Medford Lakes · Mendham · Mendham Township · Mercerville · Merchantville · Metuchen · Mickleton · Middlesex · Middletown · Middleville · Midland Park · Milford · Millburn · Millington · Millstone Township · Milltown · Millville · Milmay · Mine Hill · Minotola · Mizpah · Monmouth Beach · Monmouth Junction · Monroe · Monroe Township · Monroeville · Montague · Montclair · Montvale · Montville · Moonachie · Moorestown · Morganville · Morris Plains · Morristown · Mount Arlington · Mount Ephraim · Mount Freedom · Mount Holly · Mount Laurel · Mount Royal · Mount Tabor · Mountain Lakes · Mountainside · Mullica Hill · Mystic Islands
N
National Park · Navesink · Neptune · Neptune City · Neshanic Station · Netcong · New Brunswick · New Egypt · New Gretna · New Lisbon · New Milford · New Monmouth · New Providence · New Vernon · Newark · Newfield · Newfoundland · Newport · Newton · Newtonville · Norma · Normandy Beach · North Arlington · North Bergen · North Branch · North Brunswick · North Caldwell · North Cape May · North Haledon · North Middletown · North Plainfield · North Wildwood · Northfield · Northvale · Norwood · Nutley
O
Oak Ridge · Oakhurst · Oakland · Oaklyn · Ocean · Ocean City · Ocean Gate · Ocean Grove · Ocean View · Oceanport · Oceanville · Ogdensburg · Old Bridge · Old Tappan · Oldwick · Oradell · Orange · Osbornville · Oxford
P
Palisades Park · Palmyra · Paramus · Park Ridge · Parlin · Parsippany · Passaic · Paterson · Paulsboro · Peapack · Pedricktown · Pemberton · Pennington · Penns Grove · Pennsauken · Pennsville · Pequannock · Perrineville · Perth Amboy · Phillipsburg · Picatinny Arsenal · Pilesgrove · Pilesgrove Township · Pine Beach · Pine Brook · Pine Hill · Pine Valley · Piscataway · Pitman · Pittsgrove · Pittstown · Plainfield · Plainsboro · Pleasantville · Pluckemin · Point Pleasant Beach · Point Pleasant Boro · Pomona · Pompton Lakes · Pompton Plains · Port Elizabeth · Port Monmouth · Port Murray · Port Norris · Port Reading · Port Republic · Pottersville · Princeton · Princeton Junction · Prospect Park
Q
Quakertown · Quinton
R
Rahway · Ramsey · Rancocas · Randolph · Raritan · Readington · Red Bank · Richland · Richwood · Ridgefield · Ridgefield Park · Ridgewood · Ringoes · Ringwood · Rio Grande · River Edge · River Vale · Riverdale · Riverside · Riverton · Rivervale · Robbinsville · Rochelle Park · Rockaway · Rockleigh · Rocky Hill · Roebling · Roosevelt · Roseland · Roselle · Roselle Park · Rosemont · Rosenhayn · Roxbury Township · Rumson · Runnemede · Rutherford
S
Saddle Brook · Saddle River · Salem · Sandy Hook · Sandyston · Sayreville · Schooleys Mountain · Scotch Plains · Sea Bright · Sea Girt · Sea Isle City · Seaside Heights · Seaside Park · Secaucus · Sergeantsville · Sewaren · Sewell · Shamong · Shiloh · Ship Bottom · Short Hills · Shrewsbury · Sicklerville · Skillman · Smithville · Somerdale · Somers Point · Somerset · Somerville · South Amboy · South Bound Brook · South Dennis · South Hackensack · South Harrison Township · South Orange · South Plainfield · South River · South Seaville · Southampton · Sparta · Spotswood · Spring Lake · Springfield · Stafford Township · Stanhope · Stanton · Stewartsville · Stillwater · Stirling · Stockholm · Stockton · Stone Harbor · Stratford · Strathmere · Succasunna · Summit · Surf City · Sussex · Swartswood · Swedesboro
T
Tabernacle · Teaneck · Tenafly · Tennent · Teterboro · Tewksbury Township · Thorofare · Three Bridges · Tinton Falls · Titusville · Toms River · Totowa · Towaco · Townsends Inlet · Township of Washington · Tranquility · Trenton · Tuckahoe · Tuckerton · Turnersville
U
Union · Union Beach · Union City · Upper Montclair · Upper Saddle River
V
Vauxhall · Ventnor City · Vernon · Verona · Vienna · Villas · Vincentown · Vineland · Voorhees
W
Waldwick · Wall · Wall Township · Wallington · Wallpack Center · Wanaque · Wantage · Waretown · Warren · Washington · Watchung · Waterford Works · Wayne · Weehawken · Wenonah · West Allenhurst · West Berlin · West Caldwell · West Cape May · West Collingswood · West Collingswood Heights · West Creek · West Deptford · West Long Branch · West Milford · West New York · West Orange · West Paterson · West Trenton · West Wildwood · West Windsor · Westampton · Westfield · Westmont · Westville · Westwood · Wharton · Whippany · Whitehouse · Whitehouse Station · Whitesboro · Whiting · Wickatunk · Wildwood · Wildwood Crest · Williamstown · Willingboro · Windsor · Winfield Park · Winslow · Wood Ridge · Woodbine · Woodbridge · Woodbury · Woodbury Heights · Woodcliff Lake · Woodland Park · Woodlynne · Woodstown · Woolwich Township · Wrightstown · Wyckoff
Z
Zarephath
HUD’s list of approved HECM Counselors in New Jersey.
Counseling is mandatory in all states for those who wish to get a HECM loan.
| HECM Counseling Agency Roster as of 06/05/2013 (9 records were selected, 9 records displayed.) |
| Name | Agency ID | Address | Phone | Web Site |
| AFFORDABLE HOUSING ALLIANCE, INC. | 82133 | 59 BROAD ST EATONTOWN, NJ 07724-1528 |
(732) 389-2958 | http://www.housingall.org |
| CCCS OF NEW JERSEY | 82701 | 185 RIDGEDALE AVE CEDAR KNOLLS, NJ 07927-1812 |
(973) 267-4324 | http://www.cccsnj.org |
| COUNTY OF BERGEN, DEPARTMENT OF HUMAN SERVICES, DIVISION OF SENIOR SERVICES | 80398 | 1 BERGEN COUNTY PLZ FL 2 HACKENSACK, NJ 07601-7077 |
(201) 336-7400 | http://www.co.bergen.nj.us |
| FAMILY GUIDANCE CENTER CORPORATION | 82094 | 1931 NOTTINGHAM WAY HAMILTON, NJ 08619-3554 |
(609) 586-2574 | http://www.cccscentralnj.com |
| GARDEN STATE CONSUMER CREDIT COUNSELING, INC. D/B/A/ NOVADEBT | 82226 | 225 WILLOWBROOK ROAD FREEHOLD, NJ 07728-5921 |
(866) 472-4557 | www.novadebt.org |
| GARDEN STATE CONSUMER CREDIT COUNSELING, INC. D/B/A/ NOVADEBT | 84870 | 225 WILLOWBROOK ROAD FREEHOLD, NJ 07728-5921 |
(866) 472-4557 | www.novadebt.org |
| MONEY MANAGEMENT INTERNATIONAL EGG HARBOR TOWNSHIP | 82643 | 3073 ENGLISH CREEK AVE STE 3 EGG HARBOR TOWNSHIP, NJ 08234-9711 |
(866) 232-9080 | http://www.moneymanagement.org |
| SENIOR CITIZENS UNITED COMMUNITY SERVICES OF CAMDEN COUNTY, INC. | 80409 | 537 W NICHOLSON RD AUDUBON, NJ 08106-1912 |
(856) 456-1121 | http://www.scucs.org |
| TRI-CITY PEOPLES CORPORATION | 83475 | 675 S. 19TH STREET NEWARK, NJ 07103-1033 |
(973) 676-5506 | http://www.tri-citypeoples.org |
| HECM Counseling Agency Roster as of 06/05/2013 (9 records were selected, 9 records displayed.) |
| Name | Agency ID | Address | Phone | Web Site |
| AFFORDABLE HOUSING ALLIANCE, INC. | 82133 | 59 BROAD ST EATONTOWN, NJ 07724-1528 |
(732) 389-2958 | http://www.housingall.org |
| CCCS OF NEW JERSEY | 82701 | 185 RIDGEDALE AVE CEDAR KNOLLS, NJ 07927-1812 |
(973) 267-4324 | http://www.cccsnj.org |
| COUNTY OF BERGEN, DEPARTMENT OF HUMAN SERVICES, DIVISION OF SENIOR SERVICES | 80398 | 1 BERGEN COUNTY PLZ FL 2 HACKENSACK, NJ 07601-7077 |
(201) 336-7400 | http://www.co.bergen.nj.us |
| FAMILY GUIDANCE CENTER CORPORATION | 82094 | 1931 NOTTINGHAM WAY HAMILTON, NJ 08619-3554 |
(609) 586-2574 | http://www.cccscentralnj.com |
| GARDEN STATE CONSUMER CREDIT COUNSELING, INC. D/B/A/ NOVADEBT | 82226 | 225 WILLOWBROOK ROAD FREEHOLD, NJ 07728-5921 |
(866) 472-4557 | www.novadebt.org |
| GARDEN STATE CONSUMER CREDIT COUNSELING, INC. D/B/A/ NOVADEBT | 84870 | 225 WILLOWBROOK ROAD FREEHOLD, NJ 07728-5921 |
(866) 472-4557 | www.novadebt.org |
| MONEY MANAGEMENT INTERNATIONAL EGG HARBOR TOWNSHIP | 82643 | 3073 ENGLISH CREEK AVE STE 3 EGG HARBOR TOWNSHIP, NJ 08234-9711 |
(866) 232-9080 | http://www.moneymanagement.org |
| SENIOR CITIZENS UNITED COMMUNITY SERVICES OF CAMDEN COUNTY, INC. | 80409 | 537 W NICHOLSON RD AUDUBON, NJ 08106-1912 |
(856) 456-1121 | http://www.scucs.org |
| TRI-CITY PEOPLES CORPORATION | 83475 | 675 S. 19TH STREET NEWARK, NJ 07103-1033 |
(973) 676-5506 | http://www.tri-citypeoples.org |