Targeted Reverse Loan Leads

New Tips on Marketing Reverse Mortgages

This November the San Diego Grand Hyatt will be holding the National Reverse Mortgage Lenders Association annual Meeting and Expo. The topics will include:

1. State legislative and regulatory updates
2. The role of home equity as a part of senior financial planning

Reverse Loan Leads for the most part have a mistaken impression of the Reverse Mortgage product. There has either been a void of information or old accountings of reverse mortgage situations leading to a sad mistake. The news is swirling along rapt with rumors having unfounded verbal elements with absolutely no hold in light of new legislation. Instead of highlighting the fact that a reverse mortgage is a service it falls to the assumptions behind a sensationalistic buzz.

Working with this sort of Lifetime Mortgage is a job cut out for you.. It's time to get the word out that these programs are a prerequisite to financial success stories for Reverse Loan Leads. Consumers should know that brokers and lenders are working hand in hand with the FHA and the HRMLA Code of Ethics, not only keep senior homeowners out of foreclosure; but to allow for a line of credit and supplemental income that can pay for medical bills not covered by insurance.

With over 400K s on the books over 90% of reverse loan leads have been placed in better financial condition allowing them to stay in homes that they purchased even with the occasion of a spousal death where the pension and social security ends for the household. The protection of a reverse mortgage and insurance which is comparable in price to any mortgage product, applies even when the downturn of home value depletes the property and the neighborhood properties; such as has happened in most areas of our country in light of the mortgage lending debacle.

Reverse Mortgage Marketing Growth

Reverse Mortgage Leads are mostly seniors that may be facing hardships beyond the economy that has most likely drained their portfolio. They have heard and read the biased news slants and are fearful of the "experts" that can reach out to help them. Reverse Mortgage Leads are also found in affluent households. These are homeowners that will use a reverse mortgage for financial planning in several ways:

1. In lieu of the gifting aspect. Gifting allows for the reduction of death and estate taxes, with a repositioning of assets to an irrevocable trust
2. Closing a second home that is a bargain in our distressed markerplace.
3. Obtaining a reverse mortgage to benefit from the revoked limits on next years tax free Roth IRA assets.

The Future and the Reverse or Lifetime Mortgage

Reverse Loan Leads have been serviced for twenty some years now and have recently embraced new developments in adjusting to the economy. In January we saw a new program based on the traditional model called the Home Equity Conversion for Purchase. This is a reverse mortgage that allows consumers aged 62+ access to the fundamental package but for a purchase rather than for refinancing.

With the stimulus package raising the reverse mortgage loan limit until 2010, it's a favorable time to be in your business. Using a direct mail campaign with your leads offers you a great shot at setting the record straight as far as the muddled news goes; as well as giving you a platform to introduce the new aspects of this up and coming product.

Reverse Mortgage Leads - Reformed Mortgage Marketing