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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

Editor's Take: Reverse Mortgage Industry Can't Bite the Helping Hands Reaching Out

I'll start off this piece with a disclaimer: I have only covered the reverse mortgage industry for this publication for about a year and a half. I earned a bachelor's degree in print and multimedia journalism, not finance, from a small liberal arts ...

Published:  Wed, 20 Jun 2018 13:29:00 GMT



U.S Mortgage Rates - Trade Tariffs Send Mortgage Rates in Reverse

Mortgage rates were on the decline again as market risk aversion saw a spike in demand for U.S Treasuries pin back yields to give prospective home buyers much needed respite in June, though it could all change if China and the U.S shake hands. Mortgage ...

Published:  Fri, 22 Jun 2018 21:51:00 GMT



Reverse mortgages for the win

Hey guys! You might have seen our post Tuesday announcing my role as HousingWire's latest newbie. I've joined the team in the Dallas office this week to work on the launch of a beat dedicated to housing wealth and, specifically, reverse mortgages.

Published:  Wed, 20 Jun 2018 15:22:00 GMT



A reverse mortgage could be your solution to fixing your financial struggles

RICHMOND, Va. - Brad Friedman shared details on how a reverse mortgage can turn your home's equity into capital that can be used to make needed improvements or cover monthly expenses. Let the experts at ReverseMortgage.Pro help you and your family ...

Published:  Thu, 21 Jun 2018 09:16:00 GMT



The Reverse Mortgage Quiz: Test Your Knowledge

When I talk with consumers and financial advisers about retirement income planning, the value of home equity is one big piece of the puzzle that is often overlooked. The reality is that home equity is America's largest retirement asset. For most retirees ...

Published:  Mon, 11 Jun 2018 04:38:00 GMT



What You Should Know About Reverse Mortgages

NBC 7 Responds offers what experts say are the pros and cons behind reverse mortgages. As housing costs increase, so does the cost of living for those on fixed incomes. For many elderly homeowners, reverse mortgages are seen as a viable solution.

Published:  Thu, 21 Jun 2018 16:29:00 GMT




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