More than 1.5 million Americans age 62+ took out a home loan in 2019, yet reverse mortgages only represented a tiny fraction of that number. Get up to speed on how you can replace refi volume with HECM lending with ReverseVision VP of Sales and Marketing Wendy Peel and Longbridge Financial CEO Christopher Mayer as they discuss the special relevancy of #HECM lending as we move into 2021.
Homeowners age 62+ hold $7.7 trillion dollars in home equity. And with longer lifespans and increased medical costs, demand has never been greater among this growing population (11,000 Americans turn 62 each day) for resources to fund their retirement. See how HECM lending is a safe way to help your borrowers attain their retirement dreams.
This example will show what happens if the Smiths make the exact same payment on a HECM as they would have been making on their traditional forward mortgage.
This example shows what happens if Helen chooses to use a HECM to purchase her new home, where she can remain payment free and enjoy a nicer home near her family.
This example shows how a HECM can improve their cash flow and supplement their savings. They will remove their monthly mortgage payment and receive a substantial line of credit that can be used whenever they need extra funds.
This example shows how a HECM can extend the longevity of their retirement portfolio by sourcing funds from a HECM Line of Credit (LOC) during times of market volatility. Their financial planner can validate this as an effective strategy for managing sequence of returns risk.