Florida Real Estate Continuing Education

TUITION: $28
CE CREDIT HOURS: 3

Upcoming Course Dates & Times

This course focuses on the real estate issue of financing the purchase and sale of residential property by those aged 62 and over.

The Home Equity Conversion Mortgage (HECM), FHA's reverse mortgage program, has expanded to allow seniors to use a HECM to purchase a primary residence, a vacation property, or a second home.

This recent development opens the door for tens of thousands of 62+ retirees, laid-off executives and soon-to-be-retirees to purchase a Florida residence.

Florida real estate licensees who understand the rules, regulations and qualifications for this outstanding program are positioned to provide a full range of services for the senior buyer or seller: from listing to sale.

Topics include:

* Reverse Mortgage History
* Why HUD Got Involved
* The Current Market for Reverse Mortgages
* Reverse Versus Traditional Mortgages
* Reverse Mortgage Terminology
* Borrower Requirements
* Mortgage Amount
* Borrower Financial Requirements
* Funding Sources
* Property Requirements
* Five Payment Plans
* Repayment
* Income or Asset Qualifications
* Loan Maximum and Costs
* Repaying a HECM
* Property Condition
* Appraisal
* Select a Qualified Loan Originator
* Consumer Counseling
* Application
* Closing
* Right to Rescind
* Myths About Reverse Mortgages
* 6 Case Studies