The Truth About Reverse Mortgages

16 Sep

The Truth About Reverse Mortgages 9/16/19 (2 CE)

The Truth About Reverse Mortgages 9/16/19 (2 CE)

Monday, September 16, 2019 (9:00 AM to 11:00 AM)
2 CE Hours
Salt Lake Board of Realtors- Education Center, Sandy, Utah CE, Mortgages

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This course is certified for  2 ELECTIVE CE hours. To receive credit, you cannot miss more than 12 minutes.

This course will:

-Review the basics of a reverse mortgage
-Discuss the qualifications required to obtain a reverse mortgage
-Who potential candidates are
-The benefits and common uses of a reverse mortgage
-Different ways the funds can be received by the senior borrower 

We will discuss in depth the HECM for purchase program and how a senior borrower can use a reverse mortgage to purchase a new or existing property. We will review the costs of a reverse mortgage, audit examples of actual benefit summaries and discuss at length how the maximum benefits are determined and what impacts these percentages. We will review frequently asked questions, dispel myths surrounding the reverse mortgage program, and give insight into how the program originated, where these myths originated and why they are not accurate. We will discuss various scenarios and apply the information received to show how you can utilize this information to increase your business while helping the senior population to greater comfort in their retirement years.

Salt Lake Board of Realtors- Education Center
Salt Lake Board of Realtors- Education Center
230 W. Towne Ridge Parkway Ste.100
Sandy, UT 84070

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Lonny Eschler

Lonny has been in the mortgage lending business for over 36 years.  He has held almost every position in the lending process available, including funder, processor, loan officer, in-house escrow officer, in-house appraiser, REO specialist, default supervisor, delinquency administration manager, branch manager, senior account executive, area sales manager and vice president.  He loves the lending business and has dedicated his life to helping people buy homes, refinance them using various lending solutions and, when necessary, removing them and liquidating the collateral.  His extensive background makes it possible to handle all aspects of reverse mortgage lending no matter what circumstances the borrower is in.

Lonny has been working exclusively in the reverse mortgage arena for over 14 years and is currently the Reverse Mortgage Specialist at Reverse Freedom. He is a graduate of the University of Utah and has completed many real estate related training courses throughout the years. He now teaches as a CE instructor at most of the Real Estate board offices across the state of Utah instructing realtors about the benefits of the HECM for Purchase program and how it can help their elder clients buy new homes or age in place in their current residences.  He looks forward to increasing your understanding by making this potentially complicated product into something that will help you and your clients to an easier and more comfortable retirement. 

This course is certified for 2 ELECTIVE CE hours.

EDUCATION POLICY:
The Salt Lake Board is a CE provider and must comply with strict regulations set forth and enforced by the Utah Division of Real Estate. Per Division rules, all licensees must be in attendance for at least 90% of a course (54 minutes out of 60). To receive CE Credit you may miss the following amount of time: 6 minutes of a 1-hour course, 12 minutes of a 2-hour course and 18 minutes of a 3-hour+ course. These time limits apply even in the event of heavy traffic, severe weather conditions and the like. We monitor attendance from check-in, through all class breaks, and up until check out. Licensees who miss more than 10% of any CE course OR who fail to check in and/or check out will not be eligible to receive CE credit. Course Cancellation requires 24 hours/1 full business day notice. Designation Courses require 48 hours/2 business days' notice. Class cancellations received after these deadlines will not be eligible for refunds or credits. Courses that do not exceed the cost of $25.00 will not be eligible for refunds. If a course cannot be attended and the Board is notified within the sufficient amount of time, the cost of the course may be used as credit towards another course offered at the Board. Courses that exceed $25.00 may be issued refunds, if cancellation is given within the sufficient time period. We regret to inform licensees who are not eligible for CE credit that they will not receive a refund nor will they be able to transfer their payment to another class because of the contract we have set up with our instructors. 
 
DISCLAIMER: The opinions and viewpoints expressed by the faculty presenters do not necessarily reflect those of the Salt Lake Board of Realtors®. All materials provided by faculty presenters were prepared and/or assembled by the faculty presenters who are solely responsible for their correctness and appropriateness.