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Reverse Mortgage Leads
- Thread starter insurpros
- Start date
- 7,790
Maybe it's airlooms in Indiana, but everywhere else it's heirlooms!
rainmand
New Member
- 18
Reverse Mortgages for Dummies is the book I've most often recommended to my Reverse Mortgage clients. It explains the most common program available today, the Home Equity Conversion Mortgage, or HECM (pronounced "heck um"). That's the program sponsored by HUD and insured by FHA. The insurance program protects the homeowners and heirs, in case the loan goes negative, and also protects them if the Lender goes under.
WorldWideWayne
Expert
- 25
What's up Rainman...fancy meetin you here...
rainmand
New Member
- 18
Raymond Bartreau introduced me to the forum too. He's the most honest and reliable lead provider I know ... when he speaks - I listen.
How's been going for you, Wayne? Do you have your platform figured out yet?
How's been going for you, Wayne? Do you have your platform figured out yet?
- 7,790
Contact former Senator Fred Thompson, he may be able to help the O/P with leads.
- 15,041
Haven't seen him yet. Figured they'd show it down here, he's still very popular. Get Robert Wagner all the time though.
- 385
Raymond, my man, good to see you on the Insurance side. Thanks for the kind words as well.
This is a good forum. It has it all from great info, lots of members, battling service providers...lol. All in all though its a great source to cross educate yourself, I know I have learned a lot here just as BO tought me on the Mortgage side. For those of you that don't know Raymond Denton, he is as solid of a Reverse Mortgage Professional as there is. Good to see you around here bud.
This is a good forum. It has it all from great info, lots of members, battling service providers...lol. All in all though its a great source to cross educate yourself, I know I have learned a lot here just as BO tought me on the Mortgage side. For those of you that don't know Raymond Denton, he is as solid of a Reverse Mortgage Professional as there is. Good to see you around here bud.
beevelbop
Expert
I currently sell reverse mortgages for a major lender(one of the celeb spokesmen work for us)... There's alot of info out there; good and bad...but here are some answers.
1) Reverse mortgages are non-recourse as long as they are insured by the FHA. That means the lender can't come after you or your heirs for anything other than the house. And they can't go after your car, baseball card collection or stack of playboys...just the house.
2) The money that the borrower gets can be used for anything...pay bills, get rid of mortgage, travel the world, go to vegas and bet on black...really anything
3) Lenders want you to live forever! The longer you live the more interest they get...makes sense right?
4) Lots of other stuff...but I'm taking care of a newborn baby and drinking a Dogfish ale...so this will have to do for now!
1) Reverse mortgages are non-recourse as long as they are insured by the FHA. That means the lender can't come after you or your heirs for anything other than the house. And they can't go after your car, baseball card collection or stack of playboys...just the house.
2) The money that the borrower gets can be used for anything...pay bills, get rid of mortgage, travel the world, go to vegas and bet on black...really anything
3) Lenders want you to live forever! The longer you live the more interest they get...makes sense right?
4) Lots of other stuff...but I'm taking care of a newborn baby and drinking a Dogfish ale...so this will have to do for now!
patty jones
New Member
- 5
This is really very nice thread , i find lots of information here thanks to all of you.
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