Reverse Mortgage Leads Put Lenders In Tune With Your Needs

2007-03-08 10:33:40

( Financial )



Reverse mortgages are loan programs that allow a homeowner, aged 62 and older, to obtain a home equity loan. Generally, these homeowners should have no more unpaid balance on their previous mortgages or have only small balances remaining, in order to qualify. You can get a government-packaged reverse mortgage, or through private lenders such as wells fargo reverse mortgage and aarp reverse mortgages.

If you are on the reverse mortgage leads lists of these private lenders, you will most likely get a proposal from them to try their reverse mortgage packages. These proposals will contain reverse mortgage information to help you decide if you want it.

Reverse mortgage leads enable private lenders to focus their marketing programs only to the most promising prospects. This kind of focus allows them to give you reverse mortgage information that is more likely to be in accord with your needs. Since their marketing programs also become more efficient with good reverse mortgage leads, the cost economies may help them make reverse mortgage loans more affordable to you.

Private lenders usually get reverse mortgage leads from firms that specialize in generating mortgage leads and sell the lists to various companies. Some of these reverse mortgage leads providers compile their lists from the Internet and call centers; but more reliable listings may be generated by monitoring deeds of ownership transfers registered at the county property recorders offices in your state and across the country. Reverse mortgage leads can also be generated from tax rolls or listings of persons already retired or about to retire.

If you do obtain a reverse mortgage loan, you will not have to worry about repayment as long as you continue to live in your home. It is only when you (or your survivors) sell the home that the reverse mortgage lender will recover the loan principal and interest.


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