Description
Understand the important issues involved in reverse mortgage lending.
With the aging of Americans but a shortage of retirement savings, many seniors have a great deal of their net worth tied up in their homes. While a senior could sell their home and move to access the equity in their home, most seniors wish to age in place. A reverse mortgage is not for everyone, but such a loan can be a powerful tool not only for these types of seniors but also for seniors that want to use their home equity more flexibly as part of a larger retirement plan. This program will provide an overview of reverse mortgages, the laws that apply to such loans, and practical approaches and common obstacles to their use.
Date: 2022-12-05 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to explain what a reverse mortgage is and how it is similar to but different from a forward mortgage.
* You will be able to describe the laws applicable to reverse mortgages.
* You will be able to discuss the federal and state requirements for reverse mortgages.
* You will be able to identify the differences between a reverse mortgage and a forward mortgage.