Reverse Bootcamp | Top Retirement Stats for 2024

Weary about adding reverse mortgages into your business plan? Although there are lower LTVs caused by the higher rates, keep in mind that the acceleration of equity often offsets all of that! While your senior borrowers may get 47% instead of 57% LTV, their house may have appreciated $150K or more.

And if you’re still not sure, sign up for one [or all] of our free Reverse Mortgage Boot Camp training courses, designed to help provide you with the knowledge to become a reverse mortgage pro. We’ve already got two courses down and five more to go – so don’t miss out on this exclusive opportunity!

Courses include:

• January 18: How to Use the Reverse Mortgage to Purchase a Home
• January 22: Financial Planner's Guide to Reverse Mortgages
• January 23: How to Present a Reverse Mortgage – Kitchen Table Approach
• January 24: The Impact of a Rising Rate Environment on Reverse Mortgages
• January 25: What is the Reverse Mortgage LESA?

If you can’t make a session, register anyway, and we’ll send you a copy of the recording once the session concludes. Let’s move forward with reverse!

More than ever, reverse mortgages may be an opportunity for both current and future retirees to help with the pressures of having a sustainable amount of retirement savings.

According to the National Reverse Mortgage Lenders Association (NRMLA) and real estate data company, Clever, many Americans reported their retirement-related mistakes of 2023.

By the numbers:

• The average retiree has $170,726 in savings — down from $191,659 in 2022.
• 22% of Gen Xers have nothing saved for retirement, and 43% regret not having saved more money.
• 71% of retirees have non-mortgage debt, with an average balance of $19,888. Nearly one in five retirees (18%) have medical debt, with an average balance of $10,259.
• 30% of retirees rely on Social Security as their sole source of income.

Read the full report or reach out to your Plaza Account Executive to explore how reverse mortgages may be a beneficial tool to add to your clients’ retirement plan.