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Recollections of the New York Reverse Mortgage Seminar

The Senior Women Calendar reverse mortgage seminar in Albany, NY was attended by 180 women and some local NY lenders. The seats were booked two weeks before the event. Women who expressed interest later could not be accommodated. The event took place in the halls of the royal Crown Hotel, Albany on August 15th. 

It was indeed thrilling to see so many senior women gathered in a place and the speakers made sure that their coming was not in vain. A representative of the Senior Women Calendar opened the seminar with a welcome speech. The brief welcome speech threw highlights on the activities of the Senior Women’s Calendar and the purpose of the seminars. After that another representative from the Senior Women’s calendar directors, Mrs. Dorothy MacLean, a seasoned mortgage practitioner gave a speech based on an overview of reverse mortgage. The speech covered all the basics on reverse mortgage, how to apply and the various types available.  

The next speech was “Reverse Mortgage Marketing”. This speech centered on a side by side comparison of different reverse mortgage marketing statistics and how lenders can reach more seniors using honest advertising methods that display the pros and cons of the loan correctly.

The third speaker from First Capital discussed on the topic “when reverse mortgages might not be for you”. This speech was based on the disadvantages of reverse mortgages. It helped the audience to see the drawbacks associated with reverse mortgages as well as the cost and other implications. Real live situations and circumstances that might make reverse mortgages not the best option was also highlighted. Other alternatives to reverse mortgages were briefly highlighted. 

The last speaker from Eagle Nationwide conducted a non interactive question and answer discussion. The questions were already prepared and were likely questions that the audience might have. A total of 20 reverse mortgage questions and answers were covered.

 

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