Posted by Jeffrey Sestilio on 1/18/07 1:00pm
Msg #171529

Reverse mortgage

Can someone tell me what additional docs are in this package, does it take a lot more time to close, ect. I'm trying to see what a good basic fee should be.

Reply by Lee/AR on 1/18/07 1:11pm
Msg #171534

Not so much 'additional' docs as they are 'different' docs. The 'time' factor usually comes in because you are dealing with older people who may have difficulty writing--or so I've heard. I've done quite a few RMs and really have never experienced that kind of problem. However, they do tend to view it as a social event and I don't want them to feel that they've been rushed along, but, my, how they do digress!

Reply by Sylvia_FL on 1/18/07 1:46pm
Msg #171543

Depends on the company - there are obviously additional docs in the package (2 mortgages for starters), All of my RM's except one have been Wells Fargo RM's and they are easy. But I had one, I think it was Freedom mortgagge but not sure, and the package going back weighed 3 pounds, I had never seen so many docs in a package.

And because of the age of the borrowers they do take longer, often they are lonely and don't have too many visitors and do like to talk. Just be patient with them.

Reply by Kristen Guggerty on 1/18/07 3:38pm
Msg #171564

I love doing RM's......but you should allow several hours because they usually will want to talk and I feel that the elderly should be made to feel comfortable. On my last RM I was told that when we finished we would have cookies and milk......she had baked them especially for the closing so how could I refuse?

Reply by Lee/AR on 1/18/07 4:17pm
Msg #171568

Oh, yessss, Kristen

There seems to always be food. Brownies, cookies, pie, cake... a whole lunch once! RMs are the only place I accept anything to eat. It just doesn't 'feel right' to refuse. And they are such interesting people--I love RMs. But they do take time. Plan on it.

Reply by Marie_MD on 1/18/07 6:56pm
Msg #171594

Re: Oh, yessss, Kristen

I feel soooo good when I complete a RM I can"t wait until I'm 62. Its such a great program.

Reply by Kathleen/CA on 1/18/07 7:25pm
Msg #171597

I have met some interesting people with great stories to

share. One elderly gentlemen wanted me to stay and eat dinner. It smelled great, to bad I had to go home and cook. RMs do take time, but it can be a rewarding experience.

Reply by Jeffrey Sestilio on 1/19/07 2:13pm
Msg #171703

Re: I have met some interesting people with great stories to

What is a fair fee to charge?

Reply by David Kral on 1/20/07 1:25am
Msg #171780

What is a fair fee to charge?

Have a dozen chocolate cookies and a big glass of milk is the going rate.

Reply by TitleGalCA on 1/20/07 2:03am
Msg #171784

Re: What is a fair fee to charge?

that would be HALF (not have) a dozen cookies, plus skim milk......and $125 to boot. A second would be $50 additional.

What are you thinking?

(and I'm NOT joking).