Keeping Massachusetts Elders in Their Homes - October 22, 2019

Keeping Massachusetts Elders in Their Homes

Today in Massachusetts there are some 1.6+ million homeowners over 740,000 are 55+ years of age.  For seniors, the largest problem revolves around the swelling income/costs gap which produces a variety of threats, including rising property tax and mortgage and utility defaults.  At present, nationally, the number of elders aged 65+ paying mortgages are 60% greater than in 2000 (some 6.1 million) with mortgage balances about 82% larger and with a full fivefold increase in delinquency rates.  The fiscal pressures cause more frequent neglect of key housing maintenance expenses and the compulsion to seek out inappropriate loans, while producing ever larger victimization, including scams by both family and strangers.

Join HOME’s Executive Director, Len Raymond and Rachel Ann Morin, Assistant Director for Counseling Services, as they explain these financial trends facing elders in Massachusetts and outline a variety of solutions for credit unions to consider when helping their aging members.  This morning session will also provide a review of several case studies to help attendees understand the fact patterns and possible outcomes, including a loan and non-loan solutions or a home transition solution.      

Speakers: Len Raymond, Executive Director/COO and
Rachel Ann Morin, Assistant Director for Counseling Services
Homeowners Options for Massachusetts Elders (HOME)

Leonard F. Raymond is the founder, Executive Director and Chief Operating Officer of Homeowner Options for Massachusetts Elders (HOME). During the past thirty-five years, the HOME program has become a nationally innovative nonprofit, while continually developing new approaches for dealing with the growing and increasingly complex problem of aging-in-place for low- and moderate-income elder homeowners. The HOME program is a leader in senior anti-foreclosure efforts, consumer protections and equity conversion.  Len received his B.A. from Northeastern University and his M.A. from the University of Rhode Island. In addition, Mr. Raymond attended the doctoral program in Public Administration and Public Policy at Miami University of Ohio.  In January of 2010, he received the Norma Moseley Award by the Massachusetts Mortgage Bankers Association (MMBA), naming him the “Housing Advocate of the Year.”

Rachel Ann Morin is the Assistant Director for Counseling Services of Homeowner Options for Massachusetts Elders.  She is a graduate of Lowell State College and Suffolk University Law School.  She has over thirty years of real estate title examination and conveyancing experience in residential and commercial real estate transactions.  She is an approved Massachusetts Land Court Title Examiner and she served for four years on the City of Lowell Zoning Board of Appeals.  She has also had five years of experience in the debt service industry, working for foreclosure law firms, assisting with real estate foreclosures, deeds in lieu of foreclosure, REO sales, condominium liens and post foreclosure evictions.  Prior to becoming employed by HOME, she had worked with HOME on the conveyancing side of several HOME Term Reverse Mortgages and represented some of HOME’s clients at closing.

Ms. Morin is a key component of HOME’s senior management as well as a lead staffer for HOME's efforts regarding particularly difficult elder displacement cases referred by the Attorney General’s Office and various local agencies.

HOME
Incorporated in 1984, HOME’s mission is to assist low-income elder homeowners to successfully age-in-place.  The only agency of its type extant, HOME developed an in-home counseling service with a continuum of resource and fiscal options.  In 35 years, HOME has assisted over 30,000 elder households with displacement concerns due to lack of income, loan scams, mortgage and tax foreclosures, health care costs, large consumer debt, in-home care needs or home repair difficulties.  Some 25 community lenders work with HOME.  Central staff assist with clients in the metropolitan area, while subcontractors and a circuit rider counselor provide statewide coverage.  HOME’s services involve in-home counseling across a broad spectrum of concerns; including benefit options and specialized intervention counseling regarding premature displacement due to such causes as mortgage default, debt, property taxes or expensive health care issues; and elder economic literacy activities with elder consumers, senior services and involved professionals.

October 22, 2019
Location:

CCUA Headquarters
845 Donald Lynch Boulevard
Marlborough, MA  01752

Times: 9:00 a.m. - 11:30 a.m.
Member Benefit - Complimentary Program

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October 22, 2019 9:00 am - 11:30 am

VENUE INFO

CCUA Headquarters
845 Donald Lynch Boulevard
Marlborough, MA  01752

Keeping Massachusetts Elders in Their Homes

Today in Massachusetts there are some 1.6+ million homeowners over 740,000 are 55+ years of age.  For seniors, the largest problem revolves around the swelling income/costs gap which produces a variety of threats, including rising property tax and mortgage and utility defaults.  At present, nationally, the number of elders aged 65+ paying mortgages are 60% greater than in 2000 (some 6.1 million) with mortgage balances about 82% larger and with a full fivefold increase in delinquency rates.  The fiscal pressures cause more frequent neglect of key housing maintenance expenses and the compulsion to seek out inappropriate loans, while producing ever larger victimization, including scams by both family and strangers.

Join HOME’s Executive Director, Len Raymond and Rachel Ann Morin, Assistant Director for Counseling Services, as they explain these financial trends facing elders in Massachusetts and outline a variety of solutions for credit unions to consider when helping their aging members.  This morning session will also provide a review of several case studies to help attendees understand the fact patterns and possible outcomes, including a loan and non-loan solutions or a home transition solution.      

Speakers: Len Raymond, Executive Director/COO and
Rachel Ann Morin, Assistant Director for Counseling Services
Homeowners Options for Massachusetts Elders (HOME)

Leonard F. Raymond is the founder, Executive Director and Chief Operating Officer of Homeowner Options for Massachusetts Elders (HOME). During the past thirty-five years, the HOME program has become a nationally innovative nonprofit, while continually developing new approaches for dealing with the growing and increasingly complex problem of aging-in-place for low- and moderate-income elder homeowners. The HOME program is a leader in senior anti-foreclosure efforts, consumer protections and equity conversion.  Len received his B.A. from Northeastern University and his M.A. from the University of Rhode Island. In addition, Mr. Raymond attended the doctoral program in Public Administration and Public Policy at Miami University of Ohio.  In January of 2010, he received the Norma Moseley Award by the Massachusetts Mortgage Bankers Association (MMBA), naming him the “Housing Advocate of the Year.”

Rachel Ann Morin is the Assistant Director for Counseling Services of Homeowner Options for Massachusetts Elders.  She is a graduate of Lowell State College and Suffolk University Law School.  She has over thirty years of real estate title examination and conveyancing experience in residential and commercial real estate transactions.  She is an approved Massachusetts Land Court Title Examiner and she served for four years on the City of Lowell Zoning Board of Appeals.  She has also had five years of experience in the debt service industry, working for foreclosure law firms, assisting with real estate foreclosures, deeds in lieu of foreclosure, REO sales, condominium liens and post foreclosure evictions.  Prior to becoming employed by HOME, she had worked with HOME on the conveyancing side of several HOME Term Reverse Mortgages and represented some of HOME’s clients at closing.

Ms. Morin is a key component of HOME’s senior management as well as a lead staffer for HOME's efforts regarding particularly difficult elder displacement cases referred by the Attorney General’s Office and various local agencies.

HOME
Incorporated in 1984, HOME’s mission is to assist low-income elder homeowners to successfully age-in-place.  The only agency of its type extant, HOME developed an in-home counseling service with a continuum of resource and fiscal options.  In 35 years, HOME has assisted over 30,000 elder households with displacement concerns due to lack of income, loan scams, mortgage and tax foreclosures, health care costs, large consumer debt, in-home care needs or home repair difficulties.  Some 25 community lenders work with HOME.  Central staff assist with clients in the metropolitan area, while subcontractors and a circuit rider counselor provide statewide coverage.  HOME’s services involve in-home counseling across a broad spectrum of concerns; including benefit options and specialized intervention counseling regarding premature displacement due to such causes as mortgage default, debt, property taxes or expensive health care issues; and elder economic literacy activities with elder consumers, senior services and involved professionals.

October 22, 2019
Location:

CCUA Headquarters
845 Donald Lynch Boulevard
Marlborough, MA  01752

Times: 9:00 a.m. - 11:30 a.m.
Member Benefit - Complimentary Program