Description
Elderly homeowners own close to $14 Trillion in home equity and many are struggling with a financial plan that fully funds their lifetime expenses. Yet financial advisors often overlook this hidden wealth. Why? In this 1-hour presentation, we take a deep dive into the FHA Home Equity Conversion Mortgage (HECM) and new attractive and low-cost proprietary products to understand how it can improve the retirement plans of clients, protect against longevity risk, be optimized to fit with client goals, and to do so in an ethical and compliant manner. Home equity is one of the largest sources of assets for clients, and reverses mortgages can unlock this hidden wealth in a safe and standardized manner.
Learning Objectives
- Review changes to the HECM program over the past several years, specifically consumer protections.
- Understand core foundation of reverse mortgages, including qualification, ongoing requirements, consumer protections, costs, disbursement of funds, credit line growth, and settlement.
- Demonstrate impact of funds from home equity in improving outcomes for retirement planning and estate planning
- Discover unconventional techniques for financing preferred care and appropriate housing
- Learn how to "Right-size" a home without downsizing cashflow
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