If you have borrowers considering a reverse mortgage, send along this self-evaluation checklist from the National Reverse Mortgage Lenders Association (NRMLA) to see how a reverse loan might fit into their overall retirement goals.
Key questions include:
- Do you fully understand your obligations as a borrower under a reverse mortgage?
- How will your reverse mortgage loan be repaid?
- How long do you, and your spouse, plan to remain in the home?
- Have you considered other strategies to supplement your retirement income?
- And more!
Find out more about reverse mortgage options on the Plaza Home Mortgage® website, and reach out to us at Reverse@plazahomemortgage.com. Let’s explore adding this strategy as another option for your borrowers and your business.
