HECM Resource Page for Realtors

Facts:

Did you know that there are 10,000 baby boomers entering retirement every DAY? And 68% of those boomers expect to have a mortgage in retirement? Florida remains the #1 retirement destination by far - 5 times Arizona in 2nd Place. If you are a realtor in The Villages area, here are some stats you must be aware of - The Villages is the largest age-restricted development in the world. With plans for over 56,000 new homes, a population of 110,000 is estimated when fully complete.  In addition, we have dozens of other retirement communities in and around Ocala and Marion County. As of August of 2017, retirement properties make up 20% of all listings in the Ocala Marion County Board of Realtors. This is in addition to The Villages Communities.

Bottom Line: If you are a Realtor anywhere in Florida, expecially in or near The Villages or Ocala, you need to understand the powerful changes in the HECM Reverse Mortgage that are changing the way seniors buy houses in retirement.

What if you had a tool where you could help any Senior wanting to move anywhere: upzise, downsize, buy a 2nd home, or simply relocate? What if you could increase the number of your closings, double the commission on these sales, and enhance your reputation by solving problems for more people? The Reverse Mortgage for purchase program was approved as part of the Housing and Economic Recovery ACT of 2008, which enabled the U.S. Department of Housing and Urban Development (HUD) to create the program in January 2009. This is no small change! A Senior Citizen (the fastest growing segment of our economy with 3 trillion dollars in home equity) can now Upsize, Side-Size, Downsize, Relocate or even finance the purchase of a 2nd home, without having requirements such as a minimum FICO score, Asset Verifications OR Monthly Mortgage payments.

Real Life Scenarios...

  • A senior with a $150,000 of proceeds purchased a $350,000 Condo. No standard asset verification and No monthly mortgage payment - they are only responsible for property tax and insurance!
  • A couple sold their home and netted $400,000. They purchased a $300,000 Condo with $150,000 down and had $250,000 in cash LEFT OVER. No Monthly Mortgage principle and interest payment.
  • An 80 year old woman sold her $90,000 home in a depreciating neighborhood and purchased a new $200,000 home of her dreams in a neighborhood with strong appreciation. She had $7000 CASH left after the transaction. No Monthly P&I payment. 

To learn more about how the HECM reverse mortgage can help you increase your sales and double your commissions, watch the videos below and contact a reverse mortgage specialist from Landmark Reverse Mortgage Planners.

Here’s What Some of Our Clients Are Saying…