Posted by salavalos_CA on 12/15/11 7:24pm
Msg #406739

Reverse Mortgage

My mother in law has asked me to refer a company for a reverse mortgage. I deal locally with a few brokers and banks but none do reverse mortgage. Has anyone heard of good company I can refer my mother in law.

Reply by PE on 12/15/11 7:29pm
Msg #406740

Met Life is a excellent RM company

Reply by JAM/CA on 12/15/11 8:17pm
Msg #406743

Have your Mother-in-law call Therese Burgueno. Her number is 925-303-9740. Therese specializes in reverse mortgages and is very knowledgeable. I truly believe your Mother-in-law will be very comfortable talking with Therese. No obligation for a phone call to get information. Therese is located in California. If you have any questions, please feel free to send me a private message.

Reply by Therese on 12/15/11 8:20pm
Msg #406744

Please check your private inbox. I am a Reverse Mortgage Specialist, available to answer any questions you may have.

Reply by Buddy Young on 12/15/11 9:19pm
Msg #406750

Have you done reverse mortgages before?

Not giving advise, but I don't like them. Just my opinion.

Reply by Therese on 12/15/11 9:42pm
Msg #406754

Buddy the FHA insured reverse mortgages are a safe and secure financial tool to assist seniors to remain in their homes financially independent, and with the peace of mind knowing they have the resources to pay for health care, home repairs, or simply maintain their quality of life.
There are many misconceptions about this program. I would be happy to talk with you more about it. Please feel free to contact me anytime.

Reply by Buddy Young on 12/15/11 10:46pm
Msg #406755

Re: That was a beautiful statement, Therese, will you marry

me?

I've just herd a couple of horror stories that's all. Wife does reverse mortgage husband isn't old enough. After several years Wife dies, husband is out in the cold. That's just a synopsis of one of the stories i've herd. Don't know if that was true or not.

Reply by Therese on 12/15/11 11:06pm
Msg #406757

Re: That was a beautiful statement, Therese, will you marry

You just hit my funny bone! I truly believe in this product. (otherwise I would not be involved in it) It's not for everyone but done for the right reasons it truly can make a world a difference.

What you have heard may have been true and there could have been specific circumstances that brought them to that situation. Originating a reverse mortgage for borrowers where one isn't of age is not something I would recommend doing. This type of decision should be discussed with their Attorney and should not be entered into lightly. There could be ramifications for an under aged borrower to be removed from title. A borrower needs to be fully aware of what those are.

Reply by Buddy Young on 12/16/11 12:33am
Msg #406761

Re: Sorry, herd, heard. Add to your list, Hugh n/m

Reply by HisHughness on 12/16/11 12:10am
Msg #406759

Like any financial instrument, there are ramifications to a reverse mortgage; borrowers should be fully aware of those ramifications. That being said, reverse mortgages are am excellent arrow in the quiver of financial options for those of us who are long in the tooth and short in the wallet. They don't fit for some people; for some people, they are a life saver.

I am a former reverse mortgage loan officer. I would never have followed that path if I thought my fellow Olde Phartz were being taken advantage of.

Reply by BrendaTx on 12/15/11 9:24pm
Msg #406751

Re: Reverse Mortgage - Met LIfe n/m

Reply by Patricia/VT on 12/16/11 11:59am
Msg #406821

MetLife

Reply by BossLadyMD on 12/18/11 11:14am
Msg #406962

Reverse Mortgages have dried up in my area, sorry :(

Not one call this year for a RM.