27 Jan Reverse Mortgage for Purchase Reverse Mortgage for Purchase Wednesday, January 27, 2021 (11:00 AM to 12:30 PM) Virtual NHMR Meeting Learn how to make the purchase of a home easier and more affordable for clients age 62 or older. Details You're Registered! DescriptionLocationCancellation Policy The HECM Reverse Mortgage for Purchase program is a great option for older borrowers to buy a new home without using all of their cash, or taking out a traditional mortgage. Buyers can use a HECM to finance part of the purchase price. This significantly reduces the amount of out-of-pocket funds they must bring to the table. Buyers can save more of their proceeds from the sale of their current homes. At closing, they only bring the difference between the reverse mortgage proceeds and the sale price. There are no monthly mortgage payments, and the loan does not need to be repaid unless: • The borrower sells the home. • The home is no longer the primary residence of at least one of the borrowers. • The borrower does not meet loan obligations, such as taxes, insurance or property maintenance Presented by: John Luddy, SVP, Reverse Lending Rob Filippone, Branch Manager Robert Filippone is a seasoned Mortgage veteran with over 25 years' experience in the industry. Rob has a strong background in supporting homeownership initiatives with focus on specialized programs available to home buyers. This passion dates back to his time as Regional Manager of Construction Lending and Renovation Financing. In addition to his role as Branch Manager at Norcom Mortgage, Rob currently sits on the board of Neighborhood Housing Services and the Advisory Council of Bridgeport Neighborhood Trust. Virtual NHMR Meeting CT Registrants will receive the Zoom Meeting link in the confirmation email If you are unable to attend, please cancel your registration or contact the Association to cancel.