Divorce among those 65 years and better is rising faster than other age groups at a time when the financial impact can be most difficult from which to recover. There is a silver lining though. For homeowners age 62 and better, the FHA-insured Home Equity Conversion Mortgage (HECM) — HUD’s revamped version of the former reverse mortgage — can help this select group of divorcees divide housing wealth without decimating savings accounts. This unique financial tool can assist in the division of assets without either party taking on a mortgage payment, becoming a renter, or being left without access to other available retirement funds. The HECM can be used as a buy-out tool for the homeowner wishing to keep the family home, and as a purchase tool for the homeowner seeking to relocate. Each party can be a homeowner and no one has to assume a monthly mortgage payment. Bring your friend, your advisor, your neighbor to learn program guidelines and how much money is available.
Presented by: Mary Jo Lafaye, nmls #246222, HECM Reverse Mortgage Specialist and Patricia Tobin, Certified Elder Law Attorney
Hosted by: Tamalpais Union High School District, Community Education
When: Tuesday, March 21 @ 6:00 PM – 8:00 PM
Where: Redwood High School, Room 132, 395 Doherty Drive, Larkspur
Cost $35
Registration Closes March 21st at 12:00 AM
To Register, go to www.marinlearn.com, or if you have questions, please call Mary Jo Lafaye at 415-259 -4979
For a list of Upcoming Events, please visit Mary Jo’s blog:
http://62CashFlow.com/ upcoming-events/
Synergy One Lending, Inc. dba Retirement Funding Solutions. NMLS ID 1025894. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act - License #4131356. These materials are not from, and were not approved by, HUD or FHA. Mary Jo Lafaye, NMLS ID 246222.
Mary Jo LafayeEvent Description:Divorce among those 65 years and better is rising faster than other age groups at a time when the financial impact can be most difficult from which to recover. There is a silver lining though. For homeowners age 62 and better, the FHA-insured Home Equity Conversion Mortgage (HECM) — HUD’s revamped version of the former reverse mortgage — can help this select group of divorcees divide housing wealth without decimating savings accounts. This unique financial tool can assist in the division of assets without either party taking on a mortgage payment, becoming a renter, or being left without access to other available retirement funds. The HECM can be used as a buy-out tool for the homeowner wishing to keep the family home, and as a purchase tool for the homeowner seeking to relocate. Each party can be a homeowner and no one has to assume a monthly mortgage payment. Bring your friend, your advisor, your neighbor to learn program guidelines and how much money is available.
