Reverse Mortgages

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ONE REVERSE MORTGAGE

One Reverse Mortgage provides clients with a supportive, easy-to-understand process for obtaining a reverse mortgage. Their reputation is stellar, and they welcome the participation of other family members at every step of the way. One Reverse Mortgage is our top choice in the reverse mortgage industry.

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LIBERTY HOME EQUITY SOLUTIONS

Liberty Home Equity Solutions makes the reverse mortgage process transparent, simple, and trustworthy. Their "Iron Clad Guarantee" means that you'll get the best possible rates and close within 60 days - strong evidence of their commitment to customer satisfaction. Liberty is an excellent choice for your reverse mortgage needs.

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LENDINGTREE

LendingTree is not a reverse mortgage lender; instead, they use your information to match you with other lenders in their network. Their process is simple, and they work with a wide variety of lenders. LendingTree is a very good option for those people interested in a Reverse Mortgage.

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FINANCE OF AMERICA

From reassuringly-positive customer testimonials to an easy-to-navigate website, Finance of America makes a strong impression when it comes to reverse mortgages. An A+ rating with the Better Business Bureau and membership in the National Reverse Mortgage Lenders Association is further proof that customers are very satisfied with the service received during the borrowing process at Finance of America, and we give them our recommendation as well.

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HOME POINT FINANCIAL

Home Point Financial is an established lending company, whose products include reverse mortgages, USDA Loans, and HARP refinancing. You'll have to contact Home Point to get information about their reverse mortgage program, as the website doesn't allow you to get a quote directly. However, if you prefer to work with a lender that has in-person locations, Home Point may be a good choice for you.

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AMERICAN ADVISORS GROUP

American Advisors Group has been one of the most well-known names in the reverse mortgage industry. But, recent concerns with misrepresentation - including a settlement in court with the Consumer Financial Protection Bureau - have earned them a low ranking in our list of lenders.

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LOWER MY BILLS

Lower My Bills offers several loan products, including reverse mortgages, personal and auto loans, and refinancing. Despite an A+ rating with the BBB, recent court actions may leave you wondering if your personal information will be safe with this lender. We recommend that you choose a more reputable company for your reverse mortgage needs.

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Reverse Mortgages

If you're age 62 or older, you may have received information regarding reverse mortgages as a means of increasing your income during your retirement years. What is a reverse mortgage, and how does it work

Unlike a traditional mortgage, where you pay a lender monthly and build up the equity in your home, a reverse mortgage allows the borrower to convert the already-established equity in their home into cash. In other words, with a reverse mortgage, you receive payments from the lender based on the value of your home and the amount of equity you've built up over the years.

The most common option is known as an HECM (Home Equity Conversion Mortgage), and these loans can be used for basic monthly expenses, medical care, or whatever need you may have. Some of the requirements of obtaining a reverse mortgage are primary residency (living in the home for at least 183 days per calendar year) and participating in a counseling session with an HUD counselor over the phone or in person. Once you have a reverse mortgage, you will still be responsible for paying all applicable property taxes, maintaining the property, and keeping your homeowners' insurance policy up-to-date.

For those shopping for the best reverse mortgage, scouring the internet first provides a large list of quality companies with the most competitive rates.

When you're ready to begin considering lenders for your reverse mortgage, you should keep in mind the following criteria:

  • Rates and fees. What will it cost you to get a reverse mortgage with this lender Are they transparent with their rates and fees
  • Process and approachability. It's easy to get confused by the process of getting a reverse mortgage, or by the terms and conditions once the loan is in place. Does the company seem approachable and helpful Is the website easy to use
  • Reputation. Is the lender a member of the National Reverse Mortgage Lenders Association (NRMLA) Do they have a solid track record for treating customers fairly and providing enough information and support during the process

TopConsumerReviews.com has reviewed and ranked best Reverse Mortgages available today. We hope this information helps you or your loved ones find the right Reverse Mortgage to meet your needs!



Reverse Mortgages In The News

Reverse mortgage: What is it and how does it work

If you've seen TV commercials or online ads for reverse mortgages, maybe you've wondered: What are they Would I ever want to get one A reverse mortgage is a type of home equity loan that's reserved for older homeowners and does not require monthly ...

Published:  Sun, 15 Oct 2017 21:00:00 GMT



Reverse Mortgage Must-Reads: MMI Fund Shuffle, CFPB Complaints

As the industry continues to wake up to the post-October 2 world of new principal limit factors and mortgage insurance premiums, here's a quick refresher on what you may have missed from the week in Home Equity Conversion Mortgage news: MBA President ...

Published:  Fri, 20 Oct 2017 10:57:00 GMT



Does it make sense to use a reverse mortgage to delay Social Security

Delaying your Social Security benefit claim offers one of the best routes to higher retirement income - annual benefits increase 8 percent for every 12 months that you delay from age 62 to 70. But the strategy often comes with a challenge: How do you ...

Published:  Sun, 15 Oct 2017 02:03:00 GMT



5 ways to know when a reverse mortgage is right for you

This story is sponsored by FSI Mortgage. A reverse mortgage can be a safe, easy option for accessing the equity you have stored in your home. Most reverse home mortgages are HECMs that are governed and closely regulated by the Department of Housing and ...

Published:  Fri, 20 Oct 2017 07:01:00 GMT



New HUD Reverse Mortgage Rules Change the Game for Borrowers

Reverse mortgages have long provided a tool for clients over age 62 to supplement their available retirement income while remaining in their homes. The option can be attractive to a wide range of clients, including higher income clients who see the ...

Published:  Mon, 16 Oct 2017 13:39:00 GMT



How to make sense of reverse mortgages

Does taking out a reverse mortgage to delay drawing Social Security make sense asked Mark Miller at Reuters. Putting off Social Security "offers one of the best routes to higher retirement income," since annual benefits increase 8 percent for every 12 ...

Published:  Sun, 15 Oct 2017 03:22:00 GMT



Norcom Mortgage Names ReverseVision Its Provider of Choice for End-to-End HECM Technology

In addition to ReverseVision's flagship RV Exchange (RVX) loan origination software (LOS), Norcom has deployed RV Database (RVDB), an add-on that enables lenders to create a local "data warehouse" of pertinent reverse mortgage data, and RV Sales ...

Published:  Thu, 19 Oct 2017 12:40:00 GMT



How do you get a reverse mortgage

Getting a reverse mortgage loan is different from getting a regular mortgage, the kind you use to buy a home. Not only does the product itself have significant differences, so do the requirements to qualify and the lenders that offer it. Not just any ...

Published:  Sat, 14 Oct 2017 08:00:00 GMT



California reverse-mortgage lender opens Austin office with big hiring goals

One of the country's largest companies specializing in reverse-mortgage lending has landed in North Austin with 25 employees and plans to hire up to 150 more. American Advisors Group was expected to pull the wraps off its Austin office on Monday in ...

Published:  Mon, 09 Oct 2017 04:59:00 GMT




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