The FPA CT-Fairfield County Chapter continues to look for opportunities for advisors who are new to our profession to learn from their peers and will be hosting a FREE NexGen+ After Hours event on Wednesday, November 14th, 5:30pm to 7:00pm at Rothbard Ale + Larder. After a half hour of networking, we'll dive right into the program.
We are pleased to announce that Randolph Freese, a loan officer with CrossCountry Mortgage with his office located in historic South Norwalk (SoNo), will give a presentation on the benefits of a reverse mortgage and how it may complement your client's financial plan.
A reverse mortgage is a type of loan that typically allows homeowners age 62 or older to borrow against the equity in their homes. Most reverse mortgages today are called Home Equity Conversion Mortgages (HECMs), insured by the Federal Housing Administration (FHA) unless it’s a proprietary reverse mortgage. How do you know if this is a viable option for your client? At this event, we will discuss:
• the pros and cons of a reverse mortgages/HEMCs.
• address whether the borrower can still live in the home and maintain ownership.
• are monthly mortgage payments made during the loan period?
• can a reverse mortgage/HECM be used to purchase a new property?
• will the home be owned by the bank?
• how are the proceeds received?
• who is responsible for the loan if the loan amount is more than the value of the home?
• will Social Security, Medicare, or pension benefits be affects by a reverse mortgage/HECM?
Randolph has over 16 years of financial services experience in private banking, trust services and financial planning. He has a passion for explaining the mortgage process and complicated credit concepts in a way the client understands. He takes as much time as necessary to discuss the mortgage process from application to closing, and he prides himself on extensive communication with the client, realtor, attorney, accountant and financial planner to ensure a smooth transactional process.
Randolph is a member of the Financial Planning Association (FPA) - Fairfield Chapter and serves on the Board of Directors of the FPA - Greater Hudson Valley Chapter. He volunteers with Junior Achievement, Make-A-Wish Foundation, and Feeding Westchester. He is a member of Northern Fairfield County Association of Realtors (NFCAR) and Hudson Gateway Association of Realtors (HGAR).
Originally from Freeport, Maine, he now lives in Bethel, Connecticut with his wife, Raquel and their 4-year-old daughter, Ruth. He received a Bachelor of Arts in Latin American Studies from the University of North Carolina at Chapel Hill and holds a Master's of Trust and Investment Management from Campbell University in Raleigh, North Carolina. His interests include playing golf, tennis, downhill skiing, and general aviation for which he holds a private pilot license.
This event is intended to support the next generation of financial planners. By next generation, we mean not only those that fall into the typical NexGen age group, but also CFP® students, new planners, and career transitionists of all ages... and we welcome more seasoned planners, allied professionals and educators who wish to connect with this group.
We hope you can join us for this free event which is an opportunity - no matter your age or experience - to grow your network, to learn business success strategies, to discover new ways to market yourself and/or your practice, and to make meaningful connections.
RSVP by Monday, November 12th, by contacting Lori Somerville, at 877-777-0600 or firstname.lastname@example.org.