Reverse Mortgage Marketing

Creating a Reverse Mortgage Marketing Program

Working with Reverse Mortgage Leads can be a tricky endeavor. Reverse Mortgage converts a fraction of home equity into tax-free income. Seniors (62+) keep house titles and avoid taking on a secondary loan. This "reversed payment stream" sends monthly mortgage payments to the lender. The lender then reverses the payment which provides payments to the homeowner.

There are a few options in the payment plans as well.
1.) Seniors can make payments in a lump sum, or in fixed payments.
2.) Set terms, which provides available money to the homeowner for a set time.
The stipulations here are that the homeowner must reside at the residence.

Reverse Mortgage homeowners can borrow up to 60% in lines of credit. The homeowner has the ability to use money on the loan anytime. The unused line of credit develops into a growth cycle. However, interest is not brought into the unused line of credit. It doesn't work the same way as earning interest on a saving account. Growth factors include Appreciation Value of the previous year and Current Value. The growth factors involve FHA Home Equity Conversion Mortgage programs.

Estimating a credit line takes in the age of the youngest spouse. Older seniors have paid more and less is owed on the property. Cash value is determined in the application estimate and current interest rate. Some lenders will also take into account lending limits in an area.

In qualifying the owned property the restrictions are
1.) a single-family home
2.) 2 to 4 unit property
3.) manufactured homes
4.) Homes built after 1976

Marketing Tip:
Since Condominiums/Townhouses are listed as "Co-Ops" they can't qualify for Reverse Mortgage. These homeowners should check into the Financial Freedom Cash -Account program. This program was available in New York State only starting out. Local realtors can check if it becomes available in other states.

You may already know your criterion for Reverse Mortgage Loan Lead Generation. If not call in and consult with us about your Credit Marketing. Our experienced staff works in the Mortgage Industry on a daily basis. We would be happy to run a query because we know the market. While there are many databases we will access the best database in your Consumer Market. After a consultation we can decide which database will work best with your offers This is completely up to you there are many choices in the Mortgage Marketing Realm.. Our job is staying on top and sharing knowledge of products available. Working without volume agreements we can also save you some money.

During business hours feel free to call about creating Reverse Mortgage Leads. After hours fill out our online form briefly describing your lead requirements.

While Generating Prospects with your Reverse Mortgage Leads, filters will need to be in place to assure that we are marketing to the right prospects. One such filter is equity, as you know, your clients will need plenty of it in order to start receiving payments on their mortgage. A great Reverse Mortgage Lead List will target 70 or 80% equity. Some databases won't have an equity filter so we will pull LTV. Of course you'll want an age filter for this particular financial product.

If you do not have time to call a consultant at this time (800-884-8323), you can learn more about mailing lists for mortgage marketing here.

Whether your budget is large or small, we are here to offer free advice to get you started, our goals are to grow a relationship with your company and remain a great money making asset with you for years to come.