Equity Release Options continued from page 29 a good way for people to find companionship and to get some help around the house. Silvernest is available nationwide, but it primarily focuses on Los Angeles, Denver and Portland. “After almost two years of isolation and withdrawal from friends and family, a lot of older adults are looking for new and different living arrangements that address their heightened levels of concern around safety, companionship and income stability,” Gibson says. “Home sharing is a great option if done carefully and thoughtfully, and we believe more people are seeing the life changing benefits of that path for themselves.” The Future Gibson says consumers increasingly will want to know about their alternatives, so they can best assess the right course for them as they age. For example, someone might want to use a reverse mortgage to build an accessory dwelling that they could then rent to boost income, while also getting companionship, he mentions. “Many of these alternatives can and do work best together—it’s not a zero-sum game,” Gibson says. “They want to understand all of the home equity products and alternative financing options available to them so that they can make an informed decision that best suits their individual needs. For our part, we want what’s best for the homeowner and believe that home sharing should have a place within a diverse array of solutions.” Keohan says she sees home equity investment providers expanding options, as well as their footprints, in the coming years. “The ultimate goal is to develop a longer-term relationship with homeowners, helping them get more from homeownership throughout their entire lifecycle—rather than just a one-time transaction,” she says. “There will be an expansion of partnerships and distribution channels across the real estate and financing ecosystems, with a focus on collaboration between home equity investors and other like-minded businesses who are committed to helping homeowners achieve their financial goals.” Pop the cork and splash out the ca$h. Loans $6 million+ • Common Sense Underwriting No Commission Caps • 24/7 Live Help Desk Let’s make money this year. NMLS #1408 nwecorp.com/nrmla For industry professionals only. 30 REVERSE MORTGAGE / JANUARY-FEBRUARY 2022
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