Reverse Mortgages For Dummies.pdf

Reverse

Mortgages

FOR

DUMmIES

‰

by Sarah Glendon Lyons and John E. Lucas

Reverse

Mortgages

FOR

DUMmIES

‰

by Sarah Glendon Lyons and John E. Lucas

Reverse Mortgages For Dummies ®

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Library of Congress Control Number: 2005923784

ISBN-13: 978-07645-8446-6

ISBN-10: 0-7645-8446-4

Manufactured in the United States of America

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About the Author

Sarah Glendon Lyons is a San Diego-based writer with a diverse

portfolio of housing-industry experience. She holds a B.A. in English

Language and Literature from the University of Arizona, and studied

at Australia’s University of Wollongong before joining Hanley Wood

LLC, publishers of over 75 consumer home magazines. As an editor

for Pfingsten Publishing’s Mortgage Originator magazine, she has

written hundreds of articles for mortgage professionals. Although

she has developed a wide scope of lending insight, her particular

expertise is in the reverse mortgage field. Sarah has been inter-

viewed on the topic of reverse mortgages by leading mortgage

executives and sales trainers, and offers reverse mortgage informa-

tion to originators and consumers around the country. Her perspec-

tive as an unbiased researcher and consultant allows her to provide

readers with both the benefits and challenges of reverse mortgages.

John E. Lucas has been in the mortgage banking industry for over

39 years, actively originating mortgage loans in the Van Nuys, Ca.

area. When the Department of Housing and Urban Development

(HUD) introduced the HECM reverse mortgage in 1989, he worked

with one of the companies HUD chose to participate in the test pro-

gram. His involvement in this process led him to concentrate his

career on reverse mortgages, rather than the typical “forward”

mortgage. John has lectured on the subject of reverse mortgages to

a wide variety of organizations and groups such as senior centers,

realtors, CPAs, financial planners, elder law attorneys, service clubs

and university groups, and is a member of the National Reverse

Mortgage Lenders Association.

John will tell anyone he comes in contact with about reverse mort-

gages, and admits he has a “passion” for the program. He feels

strongly about expanding the public’s awareness of reverse mort-

gages, because he has seen how a reverse mortgage can change a

senior’s quality of life. As a senior himself, he understands the

needs of seniors and is committed to continue originating reverse

mortgages for the foreseeable future.

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