If you are a home owner in the process of applying for a reverse mortgage, take my advice and ask the lender for a discount. I have been in the reverse mortgage business for almost ten years now and I’m still amazed to see customers being charged full retail lender fees. I have been repeatedly contacted by customers of Wells Fargo Bank and others who have decided to shop around before closing their loans. They are usually shocked to find that I can offer most customers SUBSTANTIAL discounts on fees. This is money that would end up being paid to the bank as an origination fee and then added to the customer’s loan balance at closing. My discounts go right into the customer’s pocket keeping the overall closing costs lower and the beginning loan balance lower as well.
Archive for February, 2010
Discount Reverse Mortgages
Posted by Michael Manfredi on February 2nd, 2010
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