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Reverse Mortgage

Liberty: Financial Planners Change Tune on Reverse Mortgages

A webinar series from Liberty Home Equity Solutions, Inc. revealed a sizable portion of its attendees positively changed their perceptions toward Home Equity Conversion Mortgages (HECMs).

Now a year-old since its inception, Liberty’s monthly Speaker Series for Financial Advisors have drawn over 1,600 financial advisors, 33% of whom changed their view of HECM loans from negative to positive after attending the webinar. 

Through its webinar series, Liberty has been able to provide education to the financial planning community on how a HECM loan may enhance a retiree’s financial security, also dispelling the myths that HECMs are only for needs-based clients. 

The first Liberty webinar, introduced research from certified financial planners Harold Evensky and John Salter on how a HECM Saver line of credit loan may contribute to preserving retirement portfolios as part of a “Standby Reverse Mortgage” strategy. 

Their research was even featured in a Wall Street Journali article, “A Reverse-Mortgage Rethink,” that explained HECM loans are not just for “people struggling,” but can be a viable part of a client’s retirement portfolio, including for those “well-heeled retirees.”

 “In 6 or 7 minutes during each webinar we have been able to effectively educate financial advisors on the use of HECM loans, such that 22% were interested in meeting with a Liberty Advisor to learn more about HECM loan options,” said Tim Frederick, national retail sales leader at Liberty.

What’s more, added Frederick, is that as many as 55% of the Evensky and Salter webinar attendees surveyed have a client who can possibly benefit from a HECM loan.

Liberty Speakers Series Financial Advisor attendees also expressed that some of the most valuable features of the HECM loan are flexibility in payment options, including tenure, term, line of credit, lump sum, or a combination. 

Attendees also highlighted the growth feature available on the HECM Saver line of credit loan option, as well as tax-free supplemental income and non-recourse protection features for clients. 

To date, Liberty has issued over 2,174 Continuing Education credits nationally to Certified Financial Planners.  

Written by Jason Oliva

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