It's Easy To Get Frustrated Helping People With Reverse Mortgages

By
Mortgage and Lending with First Meridian Mortgage

I thought this would be a lot easier. I know how much Reverse Mortgages help people. I have saved dozens of people from certain foreclosure. I have helped people who could not put food on their table, I have helped people help their children and I have helped people sleep at night, just by knowing that if an emergency comes up, they will have the money to pay for it.

No matter how much I help people and no matter how much I know and believe that I am doing the right thing, I still get frustrated every time I hear the same negative remarks about Reverse Mortgages: "They're no good" "Isn't that when the lender gets the home" "Aren't those the things where the borrowers get kicked out of their homes" and so on.

In every case, these remarks are made by people that have little to no understanding of how a Reverse Mortgage works.

I am going to dedicate my self to educating as many people as possible about Reverse Mortgages. I am going to giver away what I think is the best written report on Reverse Mortgages to as many people as I can, because I believe that the more people who know about Reverse Mortgages, the more people can be helped by them.

I'm still frustrated, but at least I'm trying to do something about it.

Comments (6)

Irina Riley
American Dream Colorado - Woodland Park, CO
GRI, SFR, CNE, e-PRO, SRES

Michael, you are right. Reverse Mortgage can be at your advantage if you know what you are doing. It's great that you are so dedicated to educate everybody about it. Thanks for sharing. 

Jun 16, 2010 08:37 AM
Michael Pinter
First Meridian Mortgage - Brooklyn, NY

Irina,

Thanks for the comment. I appreciate the encouragement.

Michael Pinter

Jun 16, 2010 08:48 AM
Donald Sutherland
Mortgage Network - Portsmouth, NH

Michael,

Totally understand your frustration...but as they say "we can't save everyone", this helps me to push forward with our message.

In many instances, reverse is the most suitable solution, but just is not the right time...I have had over 20+ clients come back to me after initially saying no in the last 7 years.

But the good news...we finally have addressed the number one negative of the reverse mortgage - "it is too expensive!"...The Fixed-Rate program allows us to significantly reduce the closing cost - in some instances, I have eliminated 100% MIP and 100% of the closing cost or $4,000 total closing cost to the borrower.

 

 

 

Jun 26, 2010 01:07 AM
Michael Pinter
First Meridian Mortgage - Brooklyn, NY

Donald,

Thanks for the comment. I agree with you completely. Feel free to subscribe to my blog.

Michael Pinter

Jun 28, 2010 06:57 AM
Lavina Samtani
Remax Realty Centre - Germantown, MD

Hi Michael,

Is it true that reverse mortgage is going to be obsulete in the near future? I would like to really learn about reverse mortgage as I know nothing at all about it. But I was told not to bother. So tell me should I learn about it or not?

Aug 01, 2010 12:43 PM
Michael Pinter
First Meridian Mortgage - Brooklyn, NY

Lavina,

I do not think that is true at all. Where did you hear it?

Michael Pinter

Aug 02, 2010 02:32 AM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?