Over 5 years in the mortgage business and hundreds of loans closed. Speaker at over 500 seminars on mortgages.
After five years of providing reverse mortgages to seniors I've been taught a couple of things that might interest others. The biggest thing I have learned is don't do this for the money! Yes you can make a great earnings helping seniors access the equity locked up in their houses but, if you are just doing it for the cash you have truly missed the boat.
I saw the Home Equity Conversion Mortgage save houses from foreclosure, keep people from bankruptcy, provide healthful meals for elderly people, help provide retirement benefits that were lost when a partner died, provide a last trip of a lifetime after a spouse was discovered to be terminal and so much more. So yes you can make a great earnings but if you cannot see the service you can provide seniors in real requirement you need to do something else.
My boy was living in Florida and met with a man in his late seventies who was considering a HECM but couldn't make up his mind and essentially had been contemplating it for nearly a year. During their conversation it came out this man was selling off his furniture so he could buy food to last every month, even with the selling of his furniture he had to decide which days he could eat. With my sons help we provided this aged man with over $150,000 that he could use in any way he wants, the very first thing he did was go out for a pleasant meal, the second was to buy back some furniture for his house so he could live the rest of his life in comfort.
Yes there are some scoundrels in our business just like every other ; we are looking for people that really like to help senior's live better lives. If you are the kind of person that can put the wants of our seniors above your own need for revenue, you need to consider joining us.
Maybe you know of someone that is 62 or older that might use some monetary assistance. You can work part time with us and help the people you know or you might get major and make a vocation out of helping senior's live better lives. Just like every other business you have to work and push your services, we are going to show you how, but the satisfaction you will receive from the people who you help will be useful. My private experience from selling insurance and other investment instruments proved it to me. Yes I have paid some giant death claims and seen the help it provided the family but that was many years after the family acquired the insurance. The reverse mortgage provides an immediate change in lifestyle that is so fulfilling, you may complete each case and know that you have helped one more person or couple live a more comfy life, these rewards go on longer than the cash you make and provide a sense of satisfaction you not get in any other selling career.
If you think a reverse mortgage career is right for you, contact us.
- Related Videos
- Related Articles
- Ask / Related Q&A
- 6 Credit Repair Steps to Close More Mortgage and Mortgage Refinancing Deals for Your Clients
- FHA mortgage Florida, Florida mortgage, FHA mortgage loan , Florida FHA loans
- Why Reverse Mortgages Need Mortgage Insurance
- The ‘new Congress’ Fiddles Away Valuable Time… as the 275,000 Insurable Limit for Home Equity Conversion Mortgages (reverse Mortgages) is Fast Approac
- Reverse Mortgage & Private Mortgage
- Reverse Mortgage Calculator
- Retirement Planning and Reverse Mortgages




Lower Rates Make Now A Sensible Time To Refinance
By: Rob Blake | 07/01/2010Mortgage rates fluctuate in coordination with New York's Federal Reserve Bank fund rates. The yield on ten year bonds will determine when rates go up and down. Since this means that rates will likely rise in the near future, there may be no better time than now to consider refinancing.
Using Banks To Stop Foreclosure Immediately
By: Hector Milla | 07/01/2010No matter what it was that brought you to the point where your home is in the foreclosure process, you are completely aware that your credit is affected all the same.
Bad Credit Foreclosure Loans - Immediate Solution For Bad Credit Borrowers
By: Hector Milla | 07/01/2010If your home is in foreclosure, you have bad credit. Getting behind on mortgage payments is the quickest way to bad credit.
Avoid Foreclosure Loans - Option For Stopping Foreclosure Immediately
By: Hector Milla | 07/01/2010If you have found yourself in a position of being several payments past due and on the brink of foreclosure, you may be tempted to get a foreclosure loan. This is probably not a good idea though since you already had a hard enough time making your mortgage payments.
Mortgage insurance
By: Pinki Gupta | 07/01/2010Buying a foreclosure is unalike than purchasing a regular MLS listing or down home for sale by owner, but squirrel a little planning and preparation, it's
Will Chapter 7 Bankruptcy Stop Foreclosure?
By: Hector Milla | 07/01/2010When a person is about to have their home foreclosed upon, they wonder will Chapter 7 bankruptcy stop foreclosure proceedings? The answer is yes.
Mortgage banking
By: Pinki Gupta | 07/01/2010Most folks applying for and paying for credit don't realize how significant their credit score is.
Mortgage banking
By: Pinki Gupta | 07/01/2010As a general rule, the longer the term of your home loan, the more move you'll believe to pay over the life of the loan.
New Rules for Reverse Mortgages
By: Leon Cote | 28/07/2009 | MortgageA new House Appropriations Committee's bill could lower the amount of money available to seniors using the HUD reverse mortgage product but the 162 page bill looks like it will extend the increased lending limit of $625,500 through FY 2010.SEC. 235. FHA Reverse Mortgage Loan Limits for fiscal year 2010. For mortgages for which the mortgagee issues credit approval for the borrower during fiscal year 2010, the second sentence of section 255(g) of the National Housin...
Keep Your House
By: Leon Cote | 25/07/2009 | MortgageHelp is available if you are ready to workout a fair repayment schedule with your bank, while this may sometimes be hard, you will be ready to save your place. Let us cover some options that could be open to you if you face a foreclosure. The continuing flow of creditors and collections agencies called you could be over whelming, even though it may appear hopeless, you could have options. Beginning with the most serious, your place, the others may need to wait and be fixed...
Reverse Mortgage Career
By: Leon Cote | 23/07/2009 | MortgageReverse Mortgage Specialists Wanted!As a Reverse Mortgage Consultant , you are the face of the company. You are the one that works without delay with the seniors across the loan process and you receive the cuddles when a reverse mortgage puts a new roof on a widow's house, pays for her new auto or the dream holiday she's always wanted. On a daily basis, you can enable seniors and change their lives for the better. And, with the baby-boomers making ready to retire and 99...
What A Reverse Mortgage Calculator Won't Tell You
By: Leon Cote | 16/07/2009 | MortgageWhile a free reverse mortgage calculator might be able to give you an idea of how much you could borrow, none will be able to tell you something that is far more important, and that is how much equity will be left in your home after a period of years. It's crucial you are aware of this before you make any decision on whether to opt for this type of loan.There are a number of calculators to be found online. However, you may find that the amounts illustrated differ ...
It's Called a Reverse Mortgage Because it is getting Bigger , Not Smaller, Over Time
By: Leon Cote | 12/07/2009 | MortgageWhen old age pensioners consider borrowing on home equity as an element of their retirement financial planning they have options. In addition to more characteristic home equity loans or home equity credit lines, reverse mortgages are available as loans for seniors. But, the difference is, the standard mortgages are paid down monthly so the seniors home equity begins to grow again.With a reverse mortgage, once taken against the equity in the home, no payments need ...
Reverse Mortgage Negatives
By: Leon Cote | 09/07/2009 | MortgageReverse Mortgage Downside: The cash you get from a reverse mortgage isn't free cash. All banks and banks are in business to earn income. A reverse mortgage bank is not different. When they give you cash that is secured by a mortgage on your house, they have entitlement to be paid back what they lent you, and the interest on it. But, in the case of a reverse mortgage, the bank must wait for payments of any sort till you sell the home, refinance, or permanently leave the home (...
Reverse Mortgage Job
By: Leon Cote | 07/07/2009 | MortgageAfter 5 years of providing reverse mortgages to seniors I've learned a couple of things that might interest others. The biggest thing I've learnt is don't do this for the money! Yes you can make a great income helping seniors access the equity locked up in their houses but, if you are just doing it for the money you have really missed the boat.I have witnessed the Home Equity Conversion Mortgage save houses from foreclosure, keep people from bankruptcy, provide he...