ESSEX COUNTY’S RECYCLING DAY Household Hazardous Waste

Saturday, October 7, 2023

8:30 a.m. to 4:00 p.m.

Essex County Fleet Management (Public Works) 99 W. Bradford Avenue, Cedar Grove, New Jersey

Free to all Essex County Residents. Essex County residents must provide proof of residency at the site.

NOT FOR COMMERCIAL AND INDUSTRIAL FACILITIES.

✔ Do not exit vehicle.

✔ Items for disposal to be placed in trunk.

✔ NO containers will be returned (gas cans, etc.).

For more information call 973-792-9060 or www.ecuanj.com

ITEMS ACCEPTED:

Herbicides

Paint thinners and solvents

Oil based paints and stains

Chemistry sets

Propane tanks (barbecue type)

Pool chemicals

Automotive fluids (antifreeze, motor oil, steering fluids, etc.)

Darkroom/ Photographic chemicals

Lithium and NiCad batteries

Fluorescent light bulbs and ballasts

WE WILL NOT ACCEPT:

Latex paint

Unlabeled or Unidentified Materials

Asbestos

Regulated Medical Waste or Infectious Waste

Commercial or Industrial Waste

Empty Containers

Explosives, Munitions, Ordnance or Reactive Materials

Mercury and products containing mercury

Gasoline/Kerosene

Household cleaning fluids

Car batteries

Fire extinguishers (home)

Driveway sealer

Aerosol spray paints

Household batteries (AA, AAA, C, D, 9V)

Smoke Detectors and Carbon Monoxide Alarms

“There are some materials that should be removed from our regular waste stream because of their hazardous nature. This collection day provides our residents a place to properly and safely dispose of contaminants, protecting our precious environment for future generations. I encourage residents of all of our communities to come out and participate.” — Joseph N. DiVincenzo, Jr.

Learn the Basics of a Reverse Mortgage

What the HECM is a Reverse Mortgage?

When it comes to reverse mortgages, there are a lot of acronyms to know. And trying to decode all of them has the potential to leave you feeling as if you’re drowning in alphabet soup. Fortunately, Longbridge Financial is here to help. And if there’s one acronym to start with it’s this: HECM.

HECM is short for Home Equity Conversion Mortgage – also known as a reverse mortgage. HECMs allow homeowners aged 62 and older to convert a portion of their home’s equity into cash without having to sell or leave the home. Insured by the Federal Housing Administration (FHA) since 1988, today’s reverse mortgages come with consumer safeguard measures, contrary to the common misconceptions and bruised reputation based on earlier years.

Unlike a traditional mortgage, where borrowers must begin repaying the loan right away, homeowners do not have to repay funds received through a HECM until a maturity event triggers repayment of the loan, such as after the final borrower no longer lives in the home as their primary residence or becomes unable to meet the loan terms. Better yet, there are no monthly mortgage payments required so long as the borrower(s) continue to pay their property taxes and homeowners insurance and maintain the home. With a reverse mortgage, you can pay as little or as much as you want, as often as you’d like. If you have an existing mortgage on your home, the proceeds from the reverse mortgage are first used to pay off that loan. And since mortgage payments on the reverse mortgage are optional,1 you can eliminate that expense and leverage the remaining cash for what matters most to you.

Now for the question on everyone’s mind – how much money can you expect to receive from a HECM? The short answer, it depends. While the FHA sets a national lending limit for the HECM reverse mortgage program, the amount of home equity you’ll be able to access is calculated by accounting for several variables. For example, the amount of proceeds known as the “principal limit” will depend on factors like your age, home value, current interest rate, and payout distribution method. Great news though, you can choose to use the proceeds however you wish. Some common uses we see among borrowers include paying bills, offsetting healthcare costs, making “aging in place” modifications to their homes, establishing a financial “safety net” for the future, or helping loved ones with large expenses.

So, who can qualify? There are many factors that determine eligibility. For example, HECMs are available to homeowners 62 or older with sufficient equity in their homes. Another eligibility factor is that you must continue to live in the home as your primary residence and meet minimum property standards as set by HUD. However, in some instances, you may be able to use your HECM proceeds to pay for any required repairs to meet these standards.

If you’re interested in tapping into your home equity with a HECM, you may find yourself wondering what exactly the process entails. The first step is to work with a reputable reverse mortgage lender and loan officer to help you decide if the loan is right for you.

Ryan Philip, CRMP is a local Reverse Mortgage Consultant with Longbridge Financial. As a Certified Reverse Mortgage Professional (CRMP), Ryan has earned the highest designation from the National Reverse Mortgage Lenders Association and has made a commitment to follow the highest ethical standards when educating others on reverse mortgages. Ryan and the Longbridge team prioritize exceptional service. In working together, we’ll get to know you, and take the time to understand your situation, so we can offer solutions that are tailored to your needs. Not all lenders make that commitment.

Ryan Philip

Reverse Mortgage Consultant, CRMP

NMLS #418795

Office: (551) 252-4597

Cell: (201) 618-3835 rphilip@longbridge-financial.com

Branch Office: 1 International Blvd., Suite 900, Mahwah, New Jersey 07495. Branch NMLS #957935.

1Keeping current with real estate taxes, homeowners insurance, and property maintenance required.

This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

©2023 Longbridge Financial, LLC NMLS# 957935. 1 International Blvd., Suite 900, Mahwah, New Jersey 07495. 1-855-523-4326. For licensing information, go to: www.nmlsconsumeraccess.org. For additional Longbridge licensing and disclosures, please visit: https://longbridge-financial.com/licensing. Not all products and options are available in all states. Terms subject to change without notice. Certain conditions and fees apply. This is not a loan commitment. All loans subject to approval. Equal Housing Lender.

Licensed by the New Jersey Department of Banking and Insurance. This advertisement is for a first-lien mortgage loan.

Belleville remembers Sept. 11

Members of Belleville’s police and fire departments led the township’s annual 9/11 Remembrance Ceremony at 9/11 Memorial Park, at Franklin Avenue and Chestnut Street on Monday, Sept. 11.

Mayor Michael Melham spoke and asked people to remember three township residents who perished that day: Antoinette Duger, Harry Ramos and Harvey J. Gardner III.

“We must keep these souls and all the others who were killed that day in our hearts forever,” Melham said. “9/11 Memorial Park – with two steel beams recovered from Ground Zero – is a fitting place to recall lives unexplainably cut short.”

The park’s stone marker is engraved with a quote from President George W. Bush: “Terrorist attacks can shake the foundation of our biggest buildings. But they cannot touch the foundation of America. These acts shatter steel, but they cannot dent the steel of American resolve.”