ICLE | Handle Reverse Mortgage Issues for Elderly Clients
Handle Reverse Mortgage Issues for Elderly Clients
| CLE: 0.5 | Level: Basic/Intermediate

Seniors often turn to reverse mortgages to pull equity out of their home to help cover increased expenses at a time when their income is flat or has declined. Without proper planning, this type of loan can have unexpected and sometimes disastrous consequences for the borrower and surviving family members.

  • Help your client decide whether a reverse mortgage is a good fit
  • Avoid foreclosure by mitigating common property tax, repair, and insurance issues
  • Address issues arising from nonoccupancy and nonborrower spouses
  • Ensure the surviving spouse or family can retain the home
Available Formats
Lorray Brown and Katie Burns explain what triggers a nonoccupancy default for reverse mortgages, and...
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