Avoid Reverse Mortgage Scams: What You Should Know About Lenders
Rodney Monroe
September 11, 2009
- Does the lender have a solid financial standing?
- What is the lenders reputation?
- How longs has the lender been offering reverse mortgages?
- Does the lender service their own loans?
- What options does the lender offer to access your money after closing?
- Does the lender have a local presence?
- How do they plan to educate you, explain the application documents and close the loan?
- Are they willing to meet with you at your home or facilitate the transaction over the phone?
- Does the lender encourage other family members to participate in these discussions?
- Does the loan officer specialize in reverse mortgages?
- What consumer educational opportunities does the lender offer?
- Does the lender have other financial options, products or services that could meet your needs over time?
You can find detailed information about reverse mortgages, and even have a HUD approved lender contact you by visiting the website at How Do Reverse Mortgages Work.
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