DENVER - July 19, 2018 - (Newswire.com)
Baby Boomers. The second largest generation in our nation’s history represents more than 25% of the residential real estate market. And, according to financial experts, boomers have accumulated between $6 – 8 trillion in home equity ("Reasons why Baby Boomers are a Market to Watch," Dave Lowman).
Yet, as many approaches 62 and over, they share increasing concern as to whether they have saved enough for retirement at the very time they’re hoping to sell off the family home and move into more accommodating digs. Many seniors are looking for ways to access their hard-earned equity to finance their next residential move.
“Agents who shy away from working with seniors due to the perception of a longer sales cycle should reconsider that mentality. Writing off 25% of the market seems like leaving a lot on the table,” said Dan Harder, head of 1st Reverse Mortgage USA, a division of Cherry Creek Mortgage Co., Inc.
Smart realtors will capitalize on the equity-rich demo that cites its number one reason to relocate as the need “to be nearer to loved ones” ("2018 NAR Home Buyer and Generational Trends") Harder contends.
Speaking from 30+ years experience in the mortgage industry, Harder believes agents with a desire to help seniors can build a healthy, lucrative business within the sector where word-of-mouth referrals rule.
“A professional realtor must have conversant knowledge of the federally secured reverse mortgage in order to help seniors make very personal, liberating decisions and be able to move expediently … a win-win for all parties involved,” he said.
The benefits of a Home Equity Conversion Mortgage (aka Reverse Mortgage) for Purchase (H4P) for qualifying senior homeowners 62+ include:
• Enhanced Purchasing Power
• Zero Monthly Mortgage Payment Joy *
• Funds for medical expenses and/or home improvement
• Possible tax-free growing line of credit, and more…
Download a free Reverse Mortgage Realtor Toolkit www.1stmortgage.com/realtortoolkit
For more information call (877) 217-0166.
* No more monthly mortgage payments. Borrowers must maintain the property and remain current on property taxes, homeowner’s insurance, and applicable HOA dues.
About 1st Reverse Mortgage USA:
1st Reverse Mortgage USA® is a national, full-service mortgage company that provides origination and servicing through retail, wholesale, bank, credit union and correspondent divisions. 1st Reverse Mortgage USA has carved a unique niche in the marketplace by combining the best of traditional mortgage lending with the innovation and expertise of a mortgage bank. The company, a division of Cherry Creek Mortgage Company, Inc. includes over 60 retail branches across the country with over 250 experienced and knowledgeable Mortgage Loan Specialists, ready to serve our clients and their needs.
1st Reverse Mortgage USA offers a diverse set of products including Reverse Mortgages, FHA Loans, VA Loans, USDA Loans and Conventional Loans. The company is a division of Cherry Creek Mortgage Company, Inc., with direct endorsement authority from HUD, Fannie Mae (FNMA), Ginnie Mae (GNMA) and Freddie Mac (FHLMC). Visit www.1stmortgage.com or call (877) 217-0166.
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Original Source: Smart Real Estate Agents Focus on Baby Boomer Needs
