Real Estate Professionals can now assist their clients 62 years of age or older in purchasing a home using a Reverse Mortgage. This relatively new program is becoming more and more popular for seniors that need to downsize, upsize, move closer to their children, grandchildren, or family, move to a senior community, or for those who simply find their current home no longer meets their needs.
The Reverse Mortgage to Purchase a home allows the senior borrower to buy a home with a Reverse Mortgage instead of getting a Forward Mortgage. The big difference between the two, is with a Reverse Mortgage there are no credit, and no income requirements, and best of all, the borrower(s) does not have to make a monthly mortgage payment for as long as they live in their home. Whereas with a Forward Mortgage, there are credit and income requirements, and the borrower(s) would have a monthly mortgage payment.
To learn more, Stan Atkinson (Retired News Anchor / Reverse Mortgage Educator) and Tom Pinocci (Branch Manager / Reverse Mortgage Professional) are conducting two 20 minute training sessions at 11:00 am and 1:30 pm in Ballroom 309. If you can, please join our training session or at the very least visit our booth (Booth # 103) the day of the Expo for more information and to pick-up our informational packet.
Licensed by the California Department of Real Estate
License # 01820779, NMLS ID # 98161