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      May 23, 2019

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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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Best 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.

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Best Reviews

2019

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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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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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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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!

Reverse Mortgage Sales Pros Discuss Effective Marketing Practices

A panel of experienced reverse mortgage sales professionals discussed a series of effective marketing methods that have led to success in appealing to clients across a number of different reverse ...

Published:  Wed, 22 May 2019 15:10:00 GMT



Blue Ridge Bank launches reverse mortgage division

North Carolina-based Blue Ridge Bank announced this week that it has partnered with HECM technology provider ReverseVision to launch a reverse mortgage division. The bank, which said it has closed $25 ...

Published:  Wed, 22 May 2019 16:21:00 GMT



U.S. Fed may tweak key 'reverse repo' rate: minutes

NEW YORK (Reuters) - The Federal Reserve may consider tweaking how much it pays mortgage agencies ... The Fed uses what is known as a reverse repurchase agreement (repo) program to control interest ...

Published:  Wed, 22 May 2019 16:38:00 GMT



FINRA's Stance On Reverse Mortgages

FINRA is the Financial Industry Regulatory Authority. It is a self-regulatory body for financial brokers and brokerage firms. As a part of its efforts to protect consumers, it issues alerts and ...

Published:  Wed, 15 May 2019 12:23:00 GMT



Answer These 5 Questions Before You Do a Reverse Mortgage

Reverse mortgages are often misunderstood, but they can be a handy tool for retirees looking for cash. With a conventional mortgage, you borrow money to buy a house, and make payments that allow ...

Published:  Wed, 15 May 2019 08:53:00 GMT



Reverse Mortgage Professionals Talk Modern Sales Challenges

A reduced number of qualifying borrowers, adjusting to Home Equity Conversion Mortgage (HECM program changes and overcoming objections: these are just some of the challenges in the current sales ...

Published:  Tue, 21 May 2019 12:06:00 GMT



Should you get a Reverse Mortgage?

The reverse mortgage market has been in a state of flux ever since the U.S. government in 2017 reduced the amount borrowers age 62 and older can draw from their home equity for its Home Equity ...

Published:  Mon, 20 May 2019 04:06:00 GMT



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