Divorce among those 65 years and better is rising faster than other age groups at a time when the financial impact can be most difficult from which to recover. There is a silver lining though. For homeowners age 62 and better, the FHA-insured Home Equity Conversion Mortgage (HECM) — HUD’s revamped version of the former reverse mortgage — can help this select group of divorcees divide housing wealth without decimating savings accounts. This unique financial tool can assist in the division of assets without either party taking on a mortgage payment, becoming a renter, or being left without access to other available retirement funds. The HECM can be used as a buy-out tool for the homeowner wishing to keep the family home, and as a purchase tool for the homeowner seeking to relocate. Each party can be a homeowner and no one has to assume a monthly mortgage payment. Bring your friend, your advisor, your neighbor to learn program guidelines and how much money is available.
Presented by: Mary Jo Lafaye, nmls #246222, HECM Reverse Mortgage Specialist and Patricia Tobin, Certified Elder Law Attorney
Hosted by: Tamalpais Union High School District, Community Education
When: Thursday, May 11 @ 5:00 PM – 7:00 PM
Where: Redwood High School, Room 180/Library, 395 Doherty Drive, Larkspur
Registration Closes May 11th at 12:00 AM