Your home holds a special place in your heart. It is where friends come to visit, the place where your children come and bring your grandchildren for the Holidays. It is your refuge from the chaos out in the world. Your house is probably your largest nest-egg to help you in retirement. If you had purchased stock in Microsoft or Amazon instead of spending that money on your home, you would not hesitate to access the cash windfall from that wise investment. The FHA insured reverse mortgage helps you to accomplish the same thing with your home; allowing you to live in your house the rest of your life as your primary residence (as long as you stay current on taxes, insurance/HOA fees and standard maintenance). This product is FHA insured, meaning however you choose to receive your cash payouts they are guaranteed by FHA/HUD. Even if your home value drops, the guaranteed money on this program cannot be taken away. It is the safest play in retirement. Once a homeowner decides to access their equity with a reverse mortgage the challenge becomes, which of all the companies should you use to enroll in this program? Which company has the best service? Which company has the best cost?
Unfortunately, the companies that close the most reverse mortgages in the nation do so with a TV and telemarketing model. They have large call centers, to answer the massive amount of phone calls coming in from a national TV or radio spot. These call centers typically have a large turnover rate of employees as they are paid an hourly wage for their services. I have had multiple clients come to me after dealing with the “large” reverse mortgage lenders and they complained of being pressured and pushed, and everything was done over the mail and by phone and hard to understand that way.
At HighTechLending, we are a local bank that is consistently in the top 10 in reverse mortgage closings and believe in face to face service. We personally go to each one of our clients’ homes so that we can shake their hands, look them in the eye, and explain this HUD insured government program. We treat each client as we would our own parents, with the respect they deserve. At HighTechLending we are educators, if we can properly explain the program; each potential client will be able to decide for themselves whether or not this will fit their retirement goals. Once a client feels comfortable with us, and they see they will get low prices and high cash payouts, it makes it very easy to move into retirement with their reverse mortgage and peace of mind.
A primary concern for seniors in this program is cost. There is an initial one-time mortgage insurance premium, a monthly mortgage insurance premium, there can be a monthly fee, there is an origination fee, and there are 3rd party fees to close the loan. These fees have dropped significantly in the last 15 years, but you want to be sure you are getting a good rate. Frankly, most of the lenders will be pretty close in cost. At HighTechLending Inc. we are a bank, which allows you to deal directly with the company underwriting your loan and not a broker/middleman. As a bank, it gives us more control over getting your loan closed and we offer you low prices. This promise allows you to move forward confidently knowing that you will get a safe program at a guaranteed low cost. For additional questions, or for a free consultation contact Robert Snow Krepps, NMLS #255191, at HighTechLending Inc today to discuss how a reverse mortgage may be able to help you (877) 567 – 7476 or rkrepps@hightechlending.com .
HighTechLending Inc, NMLS # 7147, is an Equal Housing Lender. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.
