Thursday, June 28, 2012

How to Choose a Reverse Mortgage Company

Senior Thursday

These last two weeks we discussed the basics of a reverse mortgage and the steps in obtaining one.  This week, we'll look at how to select a reverse mortgage company that you can trust, and the qualities you should look for in a company.

First, look for a company that will educate you on the products and help you make the decision that is best for you.  Everyone's situation is different, so it is important to choose a product that will benefit you.

Second, find a company that offers a wide variety of products.  From jumbo loans for high-value properties to smaller products for modest homes, the company you select should be able to handle the size loan you need.

Third, what sort of service and support do they offer?  Are they available by phone or email when you need them?  Or is it difficult to get through to someone when you need them?  Your company rep should be accessible.

Fourth, how quickly can they close the loan?  Will you have to wait several months?  Or can they close it in four to six weeks?

Finally, how do they treat you as a customer?  Are they committed to helping you improve your life?  Or are they just after your business?   Find a company that wants to help you improve your financial security and well-being. 

Consult Ken Dellutri, Reverse Morgtage Specialist with American Portfolio Mortgage to see how a reverse mortgage can help you.  888-302-2762

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