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Do the Math! 16 Reasons to Look at the Reverse Mortgage for Home Purchase – Guest Post by Geneie McGee

Genie McGee has more than eleven years of experience in the Reverse Mortgage industry. She started her career in the industry with Financial Freedom Senior Funding Corporation in 2002, and is now a Corporate trainer in Reverse Mortgage Sales Training with Urban Financial of America, LLC

Let the Numbers Tell the Story – Do the Math!

Real Estate Agents, builders and senior advisors you are invited to learn more about the numbers surrounding the fabulous new FHA program for active adults age 62+. The HECM Purchase allows Baby Boomers to purchase a new home and NEVER have a monthly mortgage payment! It also allows you, as a real estate agent or builder, to sell MORE homes. These are homes you would not have sold had this program not been available. Builders have proven the concept. Real Estate agents are focusing on the older population and selling homes. Advisors are reevaluating the distribution phase of their clients.

Do the math:

  1. 10,000 people turn 62 every day!
  2. This trend will continue for the next 20 years!
  3. Those born between 1946 and 1952 are called the Baby Boomers.
  4. These Baby Boomers make up 35% of the American population.
  5. Baby Boomers comprise a total of 78 million people!
  6. People are living longer and many are afraid of outliving their assets.
  7. There has been a five-fold increase in the number of Centenarians (100+) in the last 3 decades.
  8. Baby Boomers # 1 reason for moving is to be close to children or grandchildren.
  9. The HECM for Purchase allows them to buy a new home without a FICO score
  10. The HECM for Purchase allows them to buy a new home without debt-to-income ratios
  11. The HECM for Purchase allows them to buy a new home without income or employment qualifications
  12. This program allows them to buy a new home without ever having a monthly mortgage payment
  13. The HECM for Purchase allows them to downsize, upsize or relocate by paying only a fraction of the cost of the home they are buying!
  14.  Buying using the HECM for Purchase allows them to keep their monies invested
  15. The HECM for Purchase allows real estate agents to represent both sides of the transaction; the listing of the previous home and the purchase of the new one.
  16. The HECM for Purchase allows you to sell more homes.

Intrigued?

Want to learn more? Understand the trends and educate yourself on the use of the HECM for Purchase.

Do the math!

Genie McGee digital photo

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Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®
Don Graves, RICP® is a Retirement Income Certified Professional and one of the Nation’s Leading Educators on the Emerging Role of Reverse Mortgages in Retirement Income Planning. He is president and founder of the HECM Institute for Housing Wealth Studies and an adjunct professor of Retirement Income at The American College of Financial Services. He has helped tens of thousands of Advisors as well as more than 3,000 personal clients since the year 2000
Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®
Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®

Categories: Advisors, Financial, Real Estate

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