Watch the recorded version of this webcast featuring experts who will walk you through a variety of scenarios involving homes with reverse mortgages that agents may encounter.
What to Expect When Selling a Home Subject to a Reverse Mortgage
April 21, 2016 • 2:00 – 3:00pm ET
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.
- 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.
Register Here: http://www.signupgenius.com/go/30e0c4baeaa22a1fd0-live