New FHA Reverse Mortgage HECM for Purchase Program by yda82100


									                                           Friday, February 19th, 2010

  New FHA Reverse Mortgage                                              Instructor:
 “HECM” for Purchase Program                                          Robert M. Benn,
                                                                  Benn Realty Services, Inc.
Do you have a buyer who is 62 years old or
older who wants to buy a home? With HECM for                                   Location:
Purchase the buyer can obtain an FHA loan                           Larry Chimbole Cultural Center
without qualifying, without FICO scores, without                         38350 Sierra Highway
income, or credit worthiness considerations.                              Palmdale, CA 93550
Learn about:
 Eligible & Ineligible Properties
                                                                          10:45 a.m.- Check In
 The maximum claim amount, the sales price,                         11:00 a.m.- 11:30 a.m.- Lunch
and the appraised value                                                     (Primrose Room)
 Computation of the “down payment” or                                11:30 a.m.- 1:30 p.m.- Class
monetary investment needed                                                   (Joshua Room)
 Allowable and non-allowable funding sources
 Verification of funds                                                           Cost:
 The upfront Mortgage Insurance Premium                             $10.00-REALTOR Members
paid to HUD                                                       $15.00- Non- REALTOR Members/
 Counseling requirements                                                     Assistants
 Right of rescission                                                      **No Refunds**
 Principal resident requirement
                                                                    *You can also register online at
 Property flipping and fraud                               or come to the
 Restrictions and rules on third party fees and                          Association Office.
lender fees

                                      Fax to 661-726-9199

Name: __________________________________________       We Accept:

Billing Address: _________________________________      Credit Card #

City: __________________________ CA Zip: _________      __________-___________-__________-___________

Contact Phone: _________________________________       Expiration Date: ______ /______

Do you require special assistance? Y____ N____           CCV Code (last 3 digits on back of card) ______

    The class was brought to you by the 2010 Education/ Technology/ Professional Development Committee
                Greater Antelope Valley Association of REALTORS, Inc.

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