More and more senior citizens are looking for work. Many senior citizens are nearing retirement and discovering that they are not able to retire because monthly living expenses are too high. Other senior citizens are retired but finding themselves limited by fixed income and are looking for jobs available for senior workers. Still other seniors have been recently displaced from their jobs often just short of qualification for pensions. Companies are hiring younger workers with degrees who will work for less money than their experienced senior citizen counterparts.
There is hope. The Reverse Mortgage Industry is aggressively hiring senior citizens to education other senior citizens about the Reverse Mortgage and Reverse Home Equity lines.
There is an overwhelming demand for senior citizen workers. The position is called a Reverse Mortgage Advisor. Reverse Mortgage Advisors are trained to give senior citizens a 30 minute presentation about the Reverse Mortgage and Reverse Home Equity Line of Credit. The Reverse Mortgage is a HUD designed and FHA insured program for senior citizens 62 and older that can be used by senior citizens to pay off an existing loan and never make a payment for as long as they live in their home. The Reverse Home Equity Line of Credit, also HUD designed and FHA insured, allows senior citizens 62 and older to gain access to a portion of the equity tied up in their home and use it for any purpose with no payment for as long as they live in their home.
Reverse Mortgage Advisors get paid to make presentations and secure applications from senior citizens who qualify for the Reverse Mortgage or Reverse Home Equity Line of Credit. If a senior citizen has a reliable form of transportation, has good communication skills and enjoys working with other senior citizens, they will enjoy working in the Reverse Mortgage Industry.
“Today, over 34 million Americans are over age 65. This is expected to double in the next 30 years to almost 70 million. By 2030, 20 percent of Americans will be over age 65. Almost four out of five seniors own their own homes, meaning there are about 27 million senior homeowners today, and that number will rise in the future. Seniors of all races have the highest rates of homeownership.
FHA endorsed 10,462 reverse mortgages during the month of July, compared to 6,375 a year ago. So far this year, FHA has endorsed 90,882 loans, compared to 62,034 during the same period last year, a 47 percent increase. In all of fiscal year 2006, FHA endorsed 76,351 reverse mortgages.”
- National Reverse Mortgage Lenders Association
Written by Todd Rutherford
