What does it take to consider yourself a specialist in reverse mortgages? This answer is subjective: there is no definitive answer to this question. Anyone with an MLO license (even if they have never done a reverse mortgage before) can call themselves a reverse mortgage specialist. The client and their support team (friends, professional advisors, neighbors, and loved ones) must do their due diligence and investigate the experience of the reverse mortgage professional and their company to determine who they want to guide them through this colossal decision.
Here are some questions to ask your reverse mortgage professional to determine their experience level:
- How many reverse mortgages have you done in the last 6 months?
- What year did you close your first reverse mortgage?
- Are you a broker or a lender?
- Does your company only do reverse mortgages or do they do various loan types?
- What is your timeline and process like?
- Do you have any resources available to learn more about reverse mortgages?
These questions will give you a good starting point to better gauge your options when looking for a true reverse mortgage professional to guide you through the many options available.
As Oregon’s leading reverse mortgage brokerage (also licensed in Washington, Idaho, and California) we have the experience to lean on when considering your individual circumstances and goals and we have the team to support our developing loan officers through the trials and tribulations of the process with minimal hurdles, due to our vast experience in this industry.
Give us a call or fill out the contact form on this page to discuss your retirement plans and let us guide you through our various loan options- all with no monthly mortgage payments!