Many changes have come to Colorado’s reverse mortgage industry in the past several months. These changes have had a positive impact on an industry that was once thought to only serve cash-strapped seniors who had no other options. As financial planners and realtors are learning about the various opportunities available with a reverse mortgage, better education of potential consumers is fostering an important relationship between lenders, seniors and their advisers.
This is why Security One Lending has partnered with the Senior Real Estate Specialists (SERS) Council, the goal being to help over SERS’s more than 15,000 realtors better understand how a reverse mortgage may help those they serve – seniors 50 and over.
“Security One Lending is excited to have this new relationship with the SRES Council as we have a shared mission, a dedication to providing outstanding service to the senior community,” Torry Larsen, Security One’s president of retail lending said. “Now more than ever, seniors need to be aware of their options when it comes to housing. By working with the SRES Realtors we can both serve as a dedicated, knowledgeable resource on a national and local level.”
Reverse mortgages are available to seniors 62 and over, with minimal income and credit requirements. There are options to use a traditional reverse mortgage to live mortgage payment free and receive either a lump sum or monthly installments of funds received from the transaction – or use a reverse mortgage to purchase a home.
Jan Jordan is a Reverse Mortgage Specialist serving the Fort Collins, Loveland, Greeley, and Front Range areas of Colorado. Click here to contact Jan and learn if reverse mortgage is right for you.