HIA Meeting – Nov 11 – Barry Scoles (Georgetown Mortgage LLC) – Reverse Mortgages

HIA Meeting – Nov 11 – Barry Scoles (Georgetown Mortgage LLC) – Reverse Mortgages


Barry Scoles (Georgetown Mortgage LLC) – Reverse Mortgages

As of Q2 2017, US homeowners age 62 or older hold $6 Trillion of equity in their homes. For the average homeowner this represents over 50% of their total net worth. With retires living longer, and the cost of retirement increasing, understanding how to safely and effectively monetize and leverage home equity has become increasingly important. Many Financial Advisors view Reverse Mortgages as an attractive way to improve retirement portfolio duration and to hedge longevity risk. According to Michael Gordon, Managing Director and Head of Retirement Insurance and Strategic Solutions at BNY Mellon, “Reverse Mortgages are an important asset class that will stabilize the fee base of asset managers and reduce the fiduciary risk of their clients running out of money in retirement.” For these reasons and more, getting the facts about FHA-Insured Reverse Mortgages will be time well spent.

See https://www.onefpa.org/journal/Pages/OCT17-Integrating-Home-Equity-and-Retirement-Savings-through-the-Rule-of-30.aspx

Barry Scoles has been a professional mortgage loan originator in Colorado since 1994. In 2003, Barry was introduced to the reverse mortgage program, and since then has devoted his career to teaching seniors and financial professionals about the proper use and diverse applications for this financial tool. Barry speaks and trains nationally on the subject of reverse mortgages. He is certified by the Department of Regulatory Agencies of Colorado, and the Texas Real Estate Commission to conduct Reverse Mortgage classes for Real Estate Agents. Barry is also approved by the Certified Financial Planners Board of Standards to provide CE classes to Certified Financial Planners nationwide. He works with Attorneys, Financial Planners, CPA’s, Banks, Credit Unions, and seniors themselves to determine the best possible application for the Reverse Mortgage in their financial plan. Barry served for three years on the Board of Directors for the National Reverse Mortgage Lenders Association in Washington DC, and was a contributing author to the Association’s Industry Best Practices and Code of Conduct. He also served on various committees for the association including the Consumer Issues Committee, Strategic Relations Committee, and currently serves on their Standards and Ethics Committee. Barry is the Co-Author of Reverse Mortgage for Seniors (© 2011 Kaplan, Inc. d/b/a Dearborn Real Estate Education), and developed the on-line reverse mortgage CE courses for both Kaplan Real Estate Education, and the Association of Real Estate License Law Officials (ARELLO)

HIA’s November 11, 2017 Agenda

— 08:30 AM —
Trading 101 SIG: Speaker: John Godell
Topic: Trend Study

Study Trend and what it takes to make a good trading set up.
We will take another look at the ADX and its readings in helping to analyze the various cycles in a trend.
Next month we will look at actual set up and how to trade the various cycles in a trend.

— 09:30 AM –
Market Outlook SIG: Speaker: Bob Tchoryk
Topic: S&P 500
Bob will discuss evaluating the S&P 500.

— 10:30 AM –
Stock Market SIG: Speakers: Dave Neary
Topics: Recent Trades

Dave will facilitate a conversation on recent trades and reasons why the trades were executed. Audience participation is expected.

— 11:25 AM –

Club Business: President: Robert Tchoryk

— 11:30 AM –

Main Meeting: Speaker: Barry Scoles – Georgetown Mortgage LLC