NRMLA's Reverse Mortgage Education Week Is Dedicated to Teaching Professionals Who Work

NRMLA's Reverse Mortgage Education Week is dedicated to teaching professionals who work with seniors how reverse mortgage loans work and how a HECM can help meet their clients' financial needs.

On Thursday, April 21, NRMLA is partnering with the National Association of Realtors to lead a webcast that explains what a real estate agent can expect when selling a home owned by a reverse mortgage borrower, or the borrower's estate.

More than a million seniors have taken advantage of the federally insured reverse mortgage program to help them remain in their homes as they age since the program’s inception 25 years ago. For the most part, the listing and sale process for homes with reverse mortgages is the same as for any other residential real estate transaction, but there are some timelines, special requirements and other issues unique to reverse mortgages that Realtors should be familiar with when handling the sale of a home that has one.

To help real estate pros understand these differences, experts from the National Reverse Mortgage Lenders Association (NRMLA) will be on hand in NAR’s Washington studio to walk through a variety of scenarios involving homes with reverse mortgages that agents may encounter.

For example:

What if it is time to sell the home because the owner is ready to move to an assisted living facility?
What if the owner has passed away and their children or other heirs need to sell the home?
What if the owner’s children have power of attorney and are selling the property on behalf of a parent?
What if the owner owes more on the loan than the home is worth?

Speakers will also take questions from viewers.

If you know a real estate professional who is interested in learning more about listing residential properties, please encourage them to register for this event on the National Association of Realtors website:

Here's a sample note you can share with the real estate professionals you know.

Dear Colleague,

I'm writing to let you know about an online educational session for real estate professionals who are looking for new listing opportunities. On Thursday, April 21, the National Reverse Mortgage Lenders Association is partnering with the National Association of Realtors to lead a live webcast called "Selling a Home Subject to a Reverse Mortgage" in conjunction with its Education Week that runs from April 18th-22nd.

To help real estate pros understand these differences, NRMLA experts will join NARto walk agents through a variety of scenarios involving homes with reverse mortgages that agents may encounter.

For example:

What if it is time to sell the home because the owner is ready to move to an assisted living facility?
What if the owner has passed away and their children or other heirs need to sell the home?
What if the owner’s children have power of attorney and are selling the property on behalf of a parent?
What if the owner owes more on the loan than the home is worth?

Speakers will also take questions from viewers.

For more background on reverse mortgage loans, take a look at recent media coverage that shows how the responsible use of a reverse mortgage can enhance a retirement plan and enable seniors to age in place:

Forbes: “Reverse Mortgages Can be a Retiree’s Saving Grace”
Kiplinger: “Reverse Mortgages Get a Makeover”
Time: “Retiree’s Biggest Asset May be Hiding in Plain Site”
USA Today, “When a Reverse Mortgage Can Make Sense” and
Wall Street Journal: “The New Case for Reverse Mortgages.”

If you’re interested in tips for listing, and selling, a home with a reverse mortgage, this webcast is worth your time. To register, visit the National Association of Realtorswebsite (you do not have to be a member of NAR to register).

If you have questions before or after the event, I’d be happy to meet with you to provide additional information.

Thank you,