Paulette West
AUDONT DO IT!!! DONT DO IT!!!! My mum took a reverse mortgage in England of just £60,000 ($118,000 Australian) 18 years ago. She died recently and she owes interest to the bank the total of £255,000 (($505,000 Australia) with interest increasing £1,200 per month. ($2,378 Australian) It is a beautiful cottage and worth £400,000 ($792,000 Australia) and losing equity fast!! If she had lived for 2 and half more years they could have thrown her out of her house and she would have been 89 years old with no where to live!!!! Its terrible and disgraceful that the companies that sell Reverse Mortgages prey on the elderly and are told it’s a good idea but it should be BANNED!!!!! If you are thinking of a reverse mortgage - please please DON’T DO IT - Just DOWNSIZE and keep your money.
Ed Brown
GBSlow gruling process; never want to go thru again! Slow gruling process: numbers change constantly, very difficult to understand process. Amount of paperwork and signing proceedure totally archaic, (maybe was OK in 1950). Requests for documents and info absurdly aggravating; one day we need this, 2 days later we need xx, next day we need page 3 of xx. Seems like they figure if they torture you enough you will give up and go away! On the bright side, my primary customer service person was superb!
Scott Johnson
GBConfusion and questions Poor communication between client and lender. Way too long of a process. Disappointed with two appraisals. After the first was considered too high, we had to wait for a second to be scheduled, and completed. The first appraisal seemed thorough and took a little over an hour. The second left so many items unchecked, and took about twenty minutes. No attic inspection and no questions about the solar details, until a phone inquiry at a later time. Overall, not a very satisfying experience.
Karen Coggeshall
GBKaren White did a great job! Our Reverse Mortgage was a bit of a "bumpy ride" since we were coming out of Forbearance after the Pandemic with our 1st and 2nd Mortgages. Karen White skillfully guided us through the process and was always patient, understanding and kept a cool head, even when we were frustrated and impatient. Also, she is thoughtful and has a sense of humor (that Helps!). Karen and RMF are highly recommended!
Anne g
GBWe were nervous about reverse… We were nervous about reverse mortgages, not knowing what to expect. So glad we got to work with Larry McAnarney. He put to rest all our concerns and dealt with our numerous questions with patience and tons of knowledge. Would gladly recommend him.