KANSAS CITY, Mo., July 5, 2012 /PRNewswire/ -- Recognizing a growing trend in the number of Americans utilizing the Home Equity Conversion Mortgage (HECM) program offered by the Department of Housing and Urban Development, Gragg Advertising announces a partnership to inform the public about the HECM process and generate business for lenders offering the program.
Markets indicate an increase in the number of seniors and early Baby Boomers who are utilizing HECM loans in an effort to make up for retirement income that was lost during the economic downturn. More commonly referred to as Reverse Mortgages, these loans allow homeowners to draw monthly income payments from a loan based on the equity of their home.
In order to be eligible for the loan, homeowners must be at least 62 years of age and have completed a reverse mortgage counseling course by a HUD approved lending specialist. Homeowners can then use the money to pay off debt or supplement their monthly income. The money given through the HECM is tax free and is not due for repayment until the homeowners leave the residence.
"Gragg Advertising is excited to partner with lending agencies in order to generate awareness about the HECM loans and to connect homeowners with qualified lending agents," Darryl Mattox, President, Gragg Advertising said. "We are confident that by connecting consumers to lenders, we will help provide a financial solution to thousands who are trying to recover financially from the economic downturn."
Gragg is a direct response marketing agency that focuses on connecting clients with prospective business opportunities. By identifying key audience markets, lenders will be connected with potential borrowers in order to educate home owners on reverse mortgage programs and provide them services to secure funding.
About Gragg Advertising
Gragg Advertising is a full-service, strategic advertising agency focusing on data-driven results and direct-response marketing. Gragg Advertising was established in 1992 by Greg Gragg and now employs over 70 people. Working with clients around the globe, Gragg Advertising focuses on providing a quantifiable return on investment for the marketing dollars of their clients. The agency combines traditional branding strategy with proven direct response marketing tactics in order to create advertising that is both memorable and measurable. Learn more at graggadv.com.
SOURCE Gragg Advertising