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RMF Newsroom, Consumer Direct, Distributed Retail, Partners

National Council on Aging Research Highlights Need for Greater Awareness of Home Equity Products among Older Homeowners and Financial Advisors

Overview presented at American Bankers Association Real Estate Lending Conference this week

ARLINGTON, V.A. & BLOOMFIELD, N.J. — (BUSINESS WIRE) — Older homeowners have considerable financial worries, but most do not see tapping their home equity as a strategy for creating greater retirement security, according to the results of new research released today by the National Council on Aging (NCOA) through its subsidiary NCOA Services LLC.

Jay Greenberg, ScD, CEO of NCOA Services, and Michael Mooney, sales leader of the Financial Institutions Group at Reverse Mortgage Funding LLC (RMF), which funded the research through a grant to NCOA, will present an overview of the findings at the American Bankers Association Real Estate Lending Conference in Orlando, FL, this week.

RMF Newsroom, Consumer Direct, Distributed Retail, Partners

How Does a Reverse Mortgage Work?

By definition, a reverse mortgage loan — also known as a home equity conversion mortgage — allows you to borrow against the equity you’ve built up in your home if you’re age 62 or older. Insured by the Federal Housing Administration, an HECM loan provides funds to help pay for the things you need or want — while you continue to live in and retain ownership of your home. Learn more to find out whether reverse mortgages are a good deal for seniors.

RMF Newsroom, Consumer Direct, Distributed Retail, Partners

Webcast Recording: Using a Reverse Mortgage to Buy a Home

REALTOR® Magazine recently hosted a live webcast about how reverse mortgages, also known as home equity conversion mortgages (HECMs), can be used to help seniors finance the purchase of a home in addition to their traditional purpose of enabling people to borrow against the equity in a property where they already live. The program took place on Feb. 22, 2017.

Panelists included Scott Trembley, CEO of The Trembley Group, a real estate firm in Myrtle Beach, S.C., that handles home purchases with HECMs; and Frank McInerney, a loan specialist with Reverse Mortgage Funding in Bloomfield, N.J. Jon Boughtin of NAR Communications hosted the program.

RMF Newsroom, Consumer Direct, Distributed Retail, Partners

A recent survey conducted by the National Association of Home Builders’ (NAHB) and sponsored by Reverse Mortgage Funding LLC (RMF)

Found that for many baby boomers, uneasiness over finances is one of the primary reasons they are hesitant about relocating to a new residence that more appropriately caters to their needs.

A recent survey conducted by the National Association of Home Builders’ (NAHB) and sponsored by Reverse Mortgage Funding LLC (RMF) — titled “Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers” — found that for many baby boomers, uneasiness over finances is one of the primary reasons they are hesitant about relocating to a new residence that more appropriately caters to their needs.

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