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Has your Reverse Mortgage been turned down?

Monday, March 22, 2010 - Article by: Lender411 Member

To speak with a HECM FHA Expert Call: (866) 432-0668

Through my time helping Seniors with reverse mortgages I regularly run across homeowners who say their reverse mortgage has been turned down by another reverse mortgage lender.

In most of those cases, I have been able to take the turned down file and close it with anther lender (over 50% of the time). As long as its not because of low equity but for most other reasons.

To speak with a HECM FHA Expert Call: (866) 432-0668

A few of the examples of which I have been able to take a turned down reverse mortgage and close it.

~ Unique Property Type

~ Appraisal Issues (in some cases can be resolved)

~ Log Homes

~ Private Road Issues

~ Other Title Issues

~ Trusts

~ Manufactured Homes

~ Foundation Issues

~ Underground Homes

~ Home Repairs

~ One borrower under age 62 and one over.

~ In some cases small shortfalls.

There are many reasons why a homeowner may be turned down from a lender, I will be glad to give you a 2nd opinion.

I only do reverse mortgages and am able to get a quick idea as to whether or not I will be able to help with your reverse mortgage. Experience does make the difference, with 7+ years of helping Seniors achieve their retirement goals with reverse mortgages, I am glad to say very few offer more experience than I.

I have many happy clients who were previously told no by another lender that I was able to help!

To speak with a HECM FHA Expert Call: (866) 432-0668

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