Comments on: Reverse Mortgages – Know Exactly What You Are Getting Into With a Reverse Mortgage http://blogging4mortgage.com/2008/07/02/reverse-mortgages-know-exactly-what-you-are-getting-into-with-a-reverse-mortgage/ Learn how to avoid foreclosure and pay down your mortgage faster Wed, 04 Feb 2009 19:57:20 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Taylor - Reverse Mortgage Advisor http://blogging4mortgage.com/2008/07/02/reverse-mortgages-know-exactly-what-you-are-getting-into-with-a-reverse-mortgage/comment-page-1/#comment-17 Taylor - Reverse Mortgage Advisor Thu, 03 Jul 2008 18:31:25 +0000 http://blogging4mortgage.com/?p=26#comment-17 This post is an excellent overview for folks that are interested in learning about reverse mortgages. In addition to the points made in the above post, I would like to also point out that seniors should be diligent in their research before deciding if a reverse mortgage is the right choice for them. It's unfortunate that seniors have to continually be on guard for sales people that are more interested in lining their own pockets with hefty commissions than providing a valuable product and service to someone that could truly benefit from this kind of financial tool. Since the implosion of the forward mortgage market and the current housing crisis, more loan agents from the traditional market have gravitated toward the reverse market in hopes of reviving their careers and earnings. Unfortunately most of them have little or no experience with reverse mortgages. A word to the wise: If you are looking into getting a reverse mortgage, make sure you work with an experienced reverse mortgage loan consultant. Ask the loan agent how long he or she has been doing reverse mortgages and check their credentials along with their company's credentials and licensing. Also ask for references and referrals to past clients. Reverse mortgages are complex instruments. Make sure you can rely and TRUST the person you decide to give your business to. This post is an excellent overview for folks that are interested in learning about reverse mortgages. In addition to the points made in the above post, I would like to also point out that seniors should be diligent in their research before deciding if a reverse mortgage is the right choice for them.

It’s unfortunate that seniors have to continually be on guard for sales people that are more interested in lining their own pockets with hefty commissions than providing a valuable product and service to someone that could truly benefit from this kind of financial tool.

Since the implosion of the forward mortgage market and the current housing crisis, more loan agents from the traditional market have gravitated toward the reverse market in hopes of reviving their careers and earnings. Unfortunately most of them have little or no experience with reverse mortgages.

A word to the wise: If you are looking into getting a reverse mortgage, make sure you work with an experienced reverse mortgage loan consultant. Ask the loan agent how long he or she has been doing reverse mortgages and check their credentials along with their company’s credentials and licensing. Also ask for references and referrals to past clients.

Reverse mortgages are complex instruments. Make sure you can rely and TRUST the person you decide to give your business to.

]]>