Aging Unbound: Reverse Mortgages Senior Services Webinar

Mainstreet HQ, Webinar – First thing is first; May is Older Americans Month! This week’s webinar recap comes from the Mainstreet Senior Services Committee and featured expert speakers discussing Aging in Place and how to make that possibility a reality. The theme? “Aging Unbound.”

Industry expert, instructor, keynote speaker and certified professional development coach Lorraine Geraci led off the panel of speakers, bringing her 19 years of reverse mortgage production to Mainstreet members.
Highlighting the sheer dollar amount of equity held by homeowners ages 62 and up, Lorraine illustrated that there is over $11.9 trillion (with a T) in home equity in the U.S. alone for this demographic. Click here to view the exact figures.

One of the “big ideas” covered in this webinar was defining exactly what a reverse mortgage is to be sure those who qualify know what it is and why it is important for REALTORS®.

A reverse mortgage is for homeowners ages 62 and older. It converts a percentage of home equity into a line of credit or cash. A specific yet popular type of these highly regulated reverse mortgages is an Equity Conversion Mortgage (ECM).

The next panelist is Loan Originator Prince Williams from CrossCountry Mortgage, LLC. His information was presented after Lorraine finished her slides as a trusted loan professional. For any of the viewers at home who may have had questions about whether a reverse mortgage could help their business as a REALTOR®, Prince Williams is the person to see.

As a REALTOR® having the best resources to educate your clients is paramount to building your brand. One such resource about reverse mortgage information comes from the Consumer Financial Protection Bureau (CFPB). Click here to view resources from CFPB and help educate your clientele on using a reverse mortgage using the tools provided on the CFPB homepage.

The Mainstreet Senior Services Committee routinely hosts webinars to provide information to their members. But what is better than a webinar? An entire expo dedicated to Senior Services.

On August 12 Mainstreet will be hosting the Senior Expo at Frisbe Senior Center in Des Plaines. For more information about this event and how to register for it click here. To be redirected to the Senior Expo registration page, click here.