Reverse Mortgage Safeguards
The decision to obtain a reverse mortgage is not one that comes easy for all seniors. Our goal is to educate you about the positives and negatives about reverse mortgages, so you can make an informed decision. As such, below are the 5 most important reverse mortgage safeguards designed to help protect you.
ONE – Initial discussion and determination
The first layer of protection is your initial discussion you have with one of our Reverse Mortgage Specialists. We will review all reverse mortgage products that are suitable for you and will help you make an informed decision as to which loan type would best suite your needs.
TWO – Counseling
The second layer of protection is counseling. To be eligible for a Reverse Mortgage (HECM, Homekeeper or Jumbo reverse mortgage), you must discuss the loan with a counselor employed by a nonprofit or public agency approved by the U.S. Department of Housing and Urban Development (HUD). The counselor will review all items discussed between you and our Reverse Mortgage Advisor to make sure there was no confusion and all your questions were answered.
THREE – Your Family and Trusted Advisors
With every reverse mortgage you are encouraged to discuss your options with your family, friends, trusted advisors or all off the above. We will require an alternate contact when we take a loan application. All of these items are in place as a safeguard for you.
FOUR – Training
All of our Reverse Mortgage Advisors have extensive training and are continually learning more in order to better serve all of our customers needs.
FIVE – Availability
Our Reverse Mortgage Advisors will be available for you whenever you should have any questions. If for any reason you are unable to reach your specific Reverse Mortgage Advisor, our team of trained professionals will be available to answer any questions you may have.