Homebuyers 62+ Focus of New Toolkits for Real Estate Agents, Builders

"HECM for Purchase offers greater flexibility to retirees and near-retirees as they prepare for the next stage of their lives. But because the product is still relatively new, many older buyers are not aware that there is an alternative to paying all-cash for a new home or securing financing with a traditional mortgage," said NRMLA President and CEO Peter Bell. "NRMLA's new toolkits will help real estate agents and homebuilders recognize scenarios when a HECM for Purchase might meet their clients' needs." 

Both guides provide real estate professionals with the background information they need to introduce the concept of HECM for Purchase to older homebuyers.

Using a Reverse Mortgage to Buy a Home: A Toolkit for Real Estate Agents includes:

• An overview of HECM for Purchase
• A profile of buyers who may benefit from this option
• A quick reference guide and glossary of key terms
• Tips for writing the contract
• Guidance for finding a qualified reverse mortgage professional

The free toolkit is available for download from NRMLA's resource page for Realtors and Agents, which also includes links to a HECM for Purchase webinar and two webcasts about buying and selling homes with reverse mortgages that were produced with the National Association of Realtors®.

HECM for Purchase: A Homebuilder's Toolkit includes:

• An overview of HECM for Purchase
• A profile of buyers who may benefit from this option
• A quick reference guide and glossary of terms
• Guidance for finding a qualified reverse mortgage professional

The free toolkit is available for download from NRMLA's resource page for Builders and Remodelers.

Older homebuyers who are interested in learning more about HECM for Purchase can visit NRMLA's consumer education website reversemortgage.org for additional information.

About the National Reverse Mortgage Lenders Association
The National Reverse Mortgage Lenders Association (NRMLA) is the national voice for the industry and represents the professionals responsible for more than 90 percent of reverse mortgage transactions in the United States. All NRMLA member companies commit themselves to a Code of Ethics & Professional Responsibility. Learn more at www.nrmlaonline.org and NRMLA's consumer education website www.reversemortgage.org. 

Contact:
Jenny Werwa, 202-939-1783, [email protected]
National Reverse Mortgage Lenders Association

SOURCE National Reverse Mortgage Lenders Association