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Reverse Mortgage for Purchase: Helping Seniors Buy a Right-Size Home with the Right Tool - Allen Chao

The Home Equity Conversion Mortgage (HECM) is one of the safest ways to mortgage for seniors who are 62 and above due to the program’s federal guarantees by HUD.

A little known strategy is to help clients purchase a new home so they can upsize, downsize, or right-size for their retirement home. 

By using the reverse mortgage to finance the new home, clients can save thousands of dollars in closing costs from a single financing transaction, protect their portfolio and available assets, manage their mortgage payments, and age in place with the safe and federally-guaranteed HECM. Join Allen Chao from Longbridge Financial for an in-depth look at the reverse mortgage and how it can be used to purchase a new home with no future mortgage payments.changes what retirees will spend in terms of out-of-pocket health costs during retirement. 

In this one-hour session, you will:

  1. Learn about HUD protections for the Home Equity Conversion Mortgage (HECM);
  2. Survey examples of when to agin in place versus moving;
  3. Identify several benefits of using a HECM for purchase in comparison to other options;
  4. Analyze a recent purchase case study.

Your presenter is Allen Chao, Senior Account Executive at Longbridge Financial, LLC.

Allen Chao, Senior Account Executive at Longbridge Financial

Allen has six years of reverse mortgage-specific experience in origination activities, including management at a Top 3 reverse lender. He’s presented at FPA, NAPFA, and Investment News on the reverse mortgage program and works directly with financial institutions and advisors to incorporate the tool into their offerings. He graduated as a Valedictorian B.B.A in Economics and B.B.A in Finance from Lamar University.

Moderator: Betty Meredith, CFA, CFP®, CRC®, Int’l Retirement Resource Center

1 hr CFP®, CRC®, and other CE Credit Reporting

We will report your CFP® and/or CRC® credit (no additional reporting fee) – please add your ID at checkout. You are responsible for reporting all other certifications for CE credit.

Overall Rating: 4.8 / 5Reverse Mortgage for Purchase: Helping Seniors Buy a Right-Size Home with the Right Tool - Allen Chao

The $29 fee is waived for all 90 Days – $99 and 365 Days – $199 subscriptions. Subscribers have ALL ACCESS to this and 60+ other live, rebroadcast, and on-demand courses at no extra fee!

Retirement Resource Center Risk Free Guarantee

Your satisfaction guaranteed: We know that you will be pleased with your purchase of this product. If, however, you are not completely satisfied notify us within 30 days of your purchase to receive a full refund of your fee, less any CFP® CE reporting fee for the course that was filed prior to cancellation.

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Reverse Mortgage for Purchase: Helping Seniors Buy a Right-Size Home with the Right Tool - Allen Chao

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