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      July 19, 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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One Reverse Mortgage

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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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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!

Liberty Home Equity unveils proprietary reverse mortgage

Five months ago, word circulated that Liberty Home Equity was on the brink of releasing a proprietary reverse mortgage product, looking to take part in the explosive growth this market has seen in the ...

Published:  Fri, 19 Jul 2019 12:19:00 GMT



Finance of America Reverse Adds HomeSafe® Select Offering in Florida

Finance of America Reverse LLC ("FAR" ), one of the largest reverse mortgage originators in the US and a leading provider of retirement loan products, today announced the launch of its HomeSafe ...

Published:  Mon, 15 Jul 2019 12:32:00 GMT



Dear Penny: I'm 65 and times are tight. Should I get a reverse mortgage?

I am a 65-year-old, semi-retired single female. Because of my personal and financial situation at the time, I started collecting my Social Security. I needed it to supplement my part-time income in ...

Published:  Mon, 08 Jul 2019 05:28:00 GMT



PRMI's First Reverse Mortgage Only Office Opens in Maryland

OWINGS MILLS, Md. (July 8, 2019) - Primary Residential Mortgage, Inc. (PRMI) is introducing a new concept in Maryland. The lender recently opened its first consumer-direct retail branch dealing ...

Published:  Mon, 08 Jul 2019 12:19:00 GMT



State Farm Announces Alliance Bringing Rocket Mortgage's Award-Winning Mortgage Process to its Customers

Quicken Loans also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked highest in the country for customer ...

Published:  Wed, 17 Jul 2019 10:00:00 GMT



Bank of America claims Ditech's sale of RMS "threatens to abandon" elderly reverse mortgage borrowers

Ditech Holdings announced in June that it had entered into an agreement to sell its reverse mortgage business, but now one of its big-named clients is formally objecting to the sale. Bank of America, ...

Published:  Fri, 19 Jul 2019 09:07:00 GMT



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