The Reverse Mortgage Counseling Association made this plan to become true in June 2011. This program is called RMCA Senior Membership Program and the target is to share the research data, allow the seniors to use the tools and get the industry feedback. This program is open for new and present borrowers and it encourages members to form a community, which is useful for all members.
1. The Street Level Communication.
Today the seniors can use the reverse mortgage counseling, the official guidance, but this new program deepens that information, because the seniors can get a real life experiences from other members and to make questions to the reverse loan industry.
This program has an ambitious task to collect all the relevant information and the user experiences into one place. The data will be objective and the program works as a bridge builder between the industry and the senior members.
2. What The Members Will Get?
The efficiency of these kind of programs depends partly on their activities. The annual fee is $ 25 and with that the members will get newsletters, aging in place information, United Networks Of America discount card, the usage of the national non-profit referral service and they can use the counseling from other members concerning the tax and insurance issues.
3. The Target Is To Help Seniors To Age At Their Homes.
This is a very nobel target and the seniors require a lot of guidance and information to be able to solve all the obstacles. The program, which the Reverse Mortgage Counseling Association has set helps a lot. It works as a supporting program, which has a big mental influence on the seniors, who have the reverse loan.
The reverse loan lenders have taken the program as a very useful venture and some have even donated an one year membership fee to the borrowers. It is wise, that both the borrowers and the lenders meet in this program, because they actually have mutual benefits.
4. A Survey Will Be Made Twice An Year.
This is useful for all parties, because it is important to research, what is honestly happening in the industry. The survey will monitor, how the senior borrower needs are developing, which again will help also the lenders to adjust the contents of their products.
5. Contacts Between Members With SandBox Senior Service.
This service offers an unofficial channel between the members and allows to make questions from the different reverse mortgage issues. Because the program works like a club, only the members can see the communications.
The target of the Reverse Mortgage Counseling Association to establish this program is to strengthen the industry by building the active contacts between the members. It will also strengthen the community by sharing the correct information and to kill the false rumours.
Juhani Tontti, B.Sc., Marketing, Is Happy That The Reverse Mortgage Counseling Association Started The Senior Membership Program. The Reverse Mortgage Counselors Want Really To Help Seniors. Visit: Reverse Mortgage Information
Mortgage loans generally refer to a loan secured by residential property, often for the purpose of acquiring the residence. Mortgage loans may be lower priced than other forms of borrowing because the value of the property reduces risk for the lender.
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