Lance's successful track record in his varied career choices continues with his designation as a Certified Reverse Mortgage Professional (CRMP). He is one of only 52 in the country with this designation.
Reverse mortgages are a "special type of home loan for folks 62 and better that allows them to borrow against their home and defer the repayment of the loan until they die or sell the home."
Seniors can use the equity in their home:
to supplement retirement income for daily living expenses
to make needed home repairs or modifications
to pay off existing mortgages, thereby eliminating a monthly expense
for a variety of other needs that help seniors maintain their independence and prevent them from becoming a burden to their children
While Lance loves his job, he continually fights the sensationalism surrounding reverse mortgages: "Recent news accounts paint a very negative picture of some poor senior losing their home because of a reverse mortgage, when in reality they usually lose their home due to poor planning."
Lance says the misinformation about reverse mortgages is widespread. "Reverse mortgages have been around since 1961 and is not new."
In addition, they are FHA insured, and prospective applicants engage in a mandatory counseling session with an approved HUD counselor. A trend in Lance's favor is that the demographics of his client base are changing as the public becomes better educated. "In years past our clients were those who simply ran out of money for various reasons-they didn't plan; illness, or even death. Today the product is being used more as a financial tool."
Lance finally settled on his position as a Reverse Mortgage Consultant because he "loves this business. In 30 days you can help change a senior's life for the better. You really are helping people and their families." With all the benefits of a reverse mortgage and Lance on your side, what have you got to lose?
Homestead Funding Corp.
Reverse Mortgage Consultant
Lance Canada, CSA
8398 Six Forks Road, Suite 104
Raleigh, NC 27615
(919) 867-5337 (office) / (919) 395-2225 (mobile)
Article written by Susie Woodworth of Assisted Living
Return to Member Spotlight Page