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: End Time:
Learning Objectives
Overview and History of Reverse Mortgages
• History of Reverse Mortgages
• Definition of a Reverse Mortgage
• Recent and Past Changes to Reverse Mortgages
Laws Applicable to Reverse Mortgages
• Federal Laws
• State Laws
• Specific Reverse Mortgage Laws and Regulations
Unique Applications of Laws to Reverse Mortgages
• Federal Law • RESPA and TILA
• State Law • Licensing, Disclosures, and Fees
Opportunities and Challenges With the Use of Reverse Mortgages
• Financial Planning
• Prohibitions on Cross Selling
• Consideration of Other Laws (Insurance and Annuities)
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
James Milano-Weiner Brodsky Kider PC
