As more and more seniors and their families are faced with the decision about where mom and dad will live as they age, it is crucial for the family to be sure that the individual needs of each person is met. How can we as reverse mortgage professionals become a resource and guide our clients through the maze of issues to be considered?
Consider the concept of "aging in place." What if seniors could continue to live in their own homes by modifying them and have access to the services and information they need to maintain their independence? How many more seniors would be able to stay in their community with their friends and familiar surroundings?
The idea of aging in place has attracted more attention in recent times as seniors and their families investigate options for housing and other services. Recently, an article appeared in the Washington Post on this very topic.
Of course one of the first considerations in making this decision is the home itself. As a reverse mortgage professional, you should know at least one contractor in your local area that holds the CAPS, short for Certified Aging in Place Specialist, certification. This contractor can consult with the senior and the family to make recommendations on how to modify the home to keep the senior living there safely.
In addition, there are contractors who specialize in universal design. Check out
The challenge to us is getting this information out to the senior community. Consider a press release in conjunction with a CAPS contractor on a new product or service. Perhaps writing an article for a local publication on how CAPS contractors are assisting local seniors, along with some examples and testimonials.
Depending on the scope and cost, it stands to reason that for many of these projects, the reverse mortgage is the perfect financing tool. It allows the senior to tap the equity in the home without the obligation of monthly payments and use those funds to cover the expense of the project.
This example is just one more way that we as reverse mortgage professionals can build our business while providing a real service to the community and position ourselves as local experts in our field. Get out there today and meet a CAPS contractor or one who specializes in universal design.
Sue Haviland is a reverse mortgage consultant in Baltimore and the founder of Reverse Mortgage Success, a leader in the training and education for originators around the country in the rapidly growing reverse mortgage arena. Ms. Haviland has worked in the lending industry since 1981. She has been originating reverse mortgages for the last six years and still originates loans every day. She has helped hundreds of families all over the country in the last several years. She also shares her knowledge of this market in presentations before the Women's Council of Realtors, Mortgage Bankers Association, National Association of Professional Mortgage Women, and SRES - Senior Real Estate Specialists, Brian Sacks' Insider Seminars, as well as the public. She is a Certified Senior Advisor and is active in many professional organizations. Sign up for her free seven-part mini-course at
