May
20th, 2013 | by Alyssa Gerace Published in News, Reverse
Mortgage
Reverse
My Mortgage (RMM) recently launched a new program targeting children of
prospective reverse mortgage borrowers who are concerned about the financial
consequences of the loan.
The
program aims to provide consultations that involve family members worried about
their loved one’s decision to use the Home Equity Conversion Mortgage (HECM)
program, and the impact the loan has on home ownership.
RMM
is offering face-to-face consultations explaining the pros and cons of HECM
loans, along with information on how to leverage the market for better results.
Family members can also learn about how to properly use Medicare and Social
Security benefits along with reverse mortgage proceeds to maximize financial
outcomes for borrowers.
“Children are often
involved with their parents’ home ownership and often assisted in their
decision making,” says RMM. “By introducing a family consultation program for
the potential HECM loan applicants as well as their children, RMM is ensuring
that the decision is one that benefits the entire family.”
During
the consultation, RMM goes through the entire reverse mortgage process and aims
to make families aware of how their home equity would be impacted with a
reverse mortgage, and which routes would give them the best benefits.
“We
are very excited for this program since addressing home ownership concerns with
family members is among the most important things we do as Utah Reverse
Mortgage brokers,” said Mark Schow, owner of RMM, in a statement. “Every
child’s greatest fear is that someone takes advantage of them and they lose the
most precious asset they have worked for their entire life: their home.”
Scott Larson
Reverse Mortgage
Specialist
(408) 315-2503 direct
(408) 872-4002 fax
The Information Age
offers much to mankind, and I would like to think we will rise to the
challenges it represents. But it is vital to remember that
information – in the sense of raw data – is not knowledge, that knowledge is
not wisdom, that wisdom is not foresight. But information is the first
essential step to all these. -unknown
No comments:
Post a Comment