RE104R25: Understanding the Basics of Reverse Mortgage

Description

Why do real estate professionals need to know about Reverse Mortgages? Licensees are often the first point of contact when people start to make housing changes. Having a basic knowledge of the Reverse Mortgage product will help licensees to better serve their clients and customers. As baby boomers consider downsizing, upsizing, aging in place, or making any housing transitions, all options can be presented. Mortgage Banking requires a federal license and Real Estate Licensees should be careful not to advise the consumer in areas beyond the scope of their real estate license . It is advisable to provide the consumer with a list of experts in the field of finance and financial planning to assist them.