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.
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
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