Our Reverse Mortgage Blog

Since many lenders are now scurrying to find how to increase their loan production, reverse mortgages have now become a target for the loan officer wanting to make a quick buck.  Many loan magazines are now full of advertisements showcasing the reverse mortgage as the next big niche to go after in the industry.

What this means to you as a senior citizen is that you have to be careful about your choice of who you are going to deal with. While the government insured HECM loan has many guidelines and qualifications to protect the senior, many loan originators that cannot offer these loans are now pushing their own versions of reverse mortgages as they try to grab a "piece of the pie".

Check out the person you are intrusting your reverse mortgage business with. Are they an approved FHA lender? Have they been trained to do reverse mortgages? How long have they been in the industry? Do they readily answer all your questions to your satisfaction? Are they listed as reverse mortgage professionals with any organization?

Check them out. Be careful and try to use someone that you can trust.