What should you expect at a reverse mortgage first meeting interview? In this interview, Usher Financial Group partners Andrew Usher and Kim Dodge discuss the importance of selecting the right mortgage lender when it comes to a Reverse Mortgage. Kim has been doing reverse mortgages for over 7 years now and understands the features of this unique loan. She explains what a homeowner should expect during an initial interview regarding a Reverse Mortgage. You will be more than surprised at what other loan officers just leave out.
Kim and Andrew remember a past client where a reverse mortgage was the right choice. “The Reverse Mortgage enabled her to use her asests in most cost effective way for her life style choices.” recalls Kim.
How does a reverse mortgage conversation usually start?
Assess Goals 1. increase cash flow? 2. Replace income that may be going away? 3. Augment income for needs due to cost increases?
“A lot of our clients want to simply use more of their asests to enjoy their retirement years” says Kim. The Reverse Mortgage really does have a lot of features that, frankly, many people don’t understand”. You need to talk to someone who specializes in this type of product. “Don’t rely on a call center to answer your questions” advises Kim. Call centers are not designed to ask questions on the clients lifestyle, goals, needs and existing finances.
Learn all the questions that need to be answered so you can make the right choices. ” Client’s often comment to me that I ask so many questions” says Kim. A reverse mortgage is not for everyone. Not every loan option works for every one person. At Usher Financial Group we are able to evaluate ALL the options and help the clients make the right decisions – whether that is a forward mortgage or a reverse mortgage.