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Everything You Need to Know About Reverse Mortgages: What They Are; When and How to Get One; Pitfalls and Advantages

Monday, June 10, 2013, 6:00 PM -- 8:30 PM

Registration for this course is now closed.

Intended Audience:

Click Here to download June orderform

Can't make it to the live class? Sign up for the webcast.

Location: 2nd Floor Auditorium

Course ID: C06102013

Number of Sessions: 1

Credits: 2.5 NJ Credits: 2.5 Real Estate Closings
2.5 NY Credits: 1.5 PP; 1 Skills; Transitional and Non-transitional

Course Description:

Learn from an expert in the field the real facts behind reverse mortgages. Understand the rules, who qualifies, the advantages as well asĀ  who should not apply for one. Some of the topics to be discussed include:

  • Background of reverse mortgages
  • What is a reverse mortgage?
  • Obtaining the funds and what the can be used for
  • Process of getting a reverse mortgage: application: eligible properties; trusts and life estates; underwriting; closing; funding and servicing
  • Pitfalls of reverse mortgages
  • Alternatives to reverse mortgages
  • Advanced uses of reverse mortgages

In addition, hear a real world description of how a reverse mortgage was utilized successfully.

Faculty:

 Faculty: Alfie Schloss, Associated Mortgage Bankers (AMB); Kevin McMullen, Esq.

 

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