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      February 21, 2018

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Best

Reverse Mortgages

  1. Liberty Home Equity
  2. LendingTree
  3. Finance of America
  4. Home Point Financial
  5. AAG
  6. Lower My Bills

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Reverse Mortgages Better Business Bureau Reliability Seal

Get Your Reverse Mortgage at One Reverse Mortgage Today! 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.

Continue reading below reviews

2018

Reverse Mortgages

5 stars
One Reverse Mortgage

ONE REVERSE MORTGAGETopConsumerReviews.com Best-In-Class Blue Ribbon Award

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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Site

4.5 stars
Liberty Home Equity Solutions

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. Read More... Visit
Site

4.5 stars
LendingTree

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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Site

4 stars
Finance of America

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. Read More... Visit
Site

3 stars
Home Point Financial

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. Read More... Visit
Site

2.5 stars
American Advisors Group

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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Site

1.5 stars
Lower My Bills

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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Site

Continued from above

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!

Which U.S. Cities are Embracing Reverse Mortgages

California cities dominate the top 10 U.S. cities where reverse mortgages are most often used, according to a new study by LendingTree. California cities accounted for four of the top 10 slots in LendingTree's report, but none of them managed to claim ...

Published:  Tue, 20 Feb 2018 10:01:00 GMT



Washington Post Explores the Reverse Mortgage as Divorce Solution

Using reverse mortgages to help soften the blow of so-called "silver divorce" has gained momentum as a potential strategy in recent years - and now a nationally syndicated columnist has weighed in. Benny L. Kass, a lawyer who pens a regular real ...

Published:  Mon, 19 Feb 2018 00:00:00 GMT



In divorces, a reverse mortgage could help resolve a big problem

This is a fictional scenario based on real-life situations I've seen: Sam and Sara have been married for a number of years, and have made the difficult decision to get a divorce. They are both in their 70s and jointly own their house with a value of $ ...

Published:  Fri, 16 Feb 2018 03:00:00 GMT



Don't be a victim of mortgage fraud

Reverse mortgage fraud - stealing from vulnerable retirees, they may offer reverse mortgages with bad terms that steal the equity. This can be prevented by using HECM programs, which are administered by HUD and the most popular reverse mortgage programs ...

Published:  Tue, 20 Feb 2018 07:57:00 GMT



6 things you should know about reverse mortgages

SPONSORED - Got retirement anxiety If you're worried about your financial future, it might be time to see things in reverse - through a reverse mortgage, that is. While there are many misconceptions about reverse mortgages, this wealth-building tool ...

Published:  Wed, 07 Feb 2018 17:34:00 GMT



4 Questions To Ask Before You Pay Off Your Mortgage

Further, prepaying your mortgage may make it more difficult to make use of your money. Tapping into savings in your home equity requires selling your home and moving, setting up a home equity line of credit, or possibly a reverse mortgage. Those options ...

Published:  Tue, 20 Feb 2018 06:17:00 GMT



Reverse mortgages boost Heartland Bank

A growth in its reverse mortgages business in Australia has helped Heartland Bank life first-half profit 7 per cent to $31.1m. Heartland Bank has boosted first-half profit 7 per cent as an expanding loan book underpinned all lines of business and strong ...

Published:  Mon, 19 Feb 2018 13:40:00 GMT



Should I Get a Reverse Mortgage

Stacy answers viewer's and reader's personal finance questions. Want to ask Stacy question Sign up for the Money Talks Newsletter from our home page. When you receive the newsletter in your email, hit reply and ask your personal finance question.

Published:  Tue, 13 Feb 2018 01:38:00 GMT



TransUnion: Mortgage delinquencies reach lowest level since recession

The serious mortgage delinquency rate decreased in the final quarter of 2017 to the lowest point since the great recession, according to TransUnion's Q4 2017 Industry Insights Report. The serious mortgage delinquency rate, or those that are 60 days or ...

Published:  Tue, 20 Feb 2018 10:15:00 GMT



Jeffrey S. Taylor, Reverse Mortgage Veteran, Dies at 75

Jeffrey S. Taylor, founding chairman of the National Reverse Mortgage Lenders Association (NRMLA), passed away on Feb. 13 at his home in Greensboro, N.C. He was 75 years old. During the course of his 35-year career in the mortgage profession, Taylor was ...

Published:  Wed, 14 Feb 2018 16:10:00 GMT



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