No other financial product has the satisfaction rate that Reverse Mortgages do

By
Mortgage and Lending with First Meridian Mortgage

All surveys of Reverse Mortgage borrowers show an above 90% satisfaction rate. The most recent survey conducted by AARP had the number at 93%

Most financial products and institutions such as banks, investment banks and even forward mortgage lenders have pretty low satisfaction ratings. Banks are one of the most complined about industry in the country.

The fact that an overwhelming majority of people who have taken a Reverse Mortgage are happy, should be noted by all of the reporters and writers who bash the product under the guise of producing an unbiased piece.

93% is unheard of in almost any industry. 93% satisfaction for a product that is portrayed as bad for the people who take them, is a statistic that needs to be publicized. 

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Rainmaker
76,374
Randall Schrader
Competitive Insurance of Dundee - Dundee, FL

The media is biased to tragedy.  You need to link to the AARP study instead. 

Sep 09, 2008 01:08 AM #1
Rainer
84,417
Michael Pinter
First Meridian Mortgage - Brooklyn, NY

Randall,

 

I've seen and even ditributed the study. Most people don't read it because it's too long.

Sep 09, 2008 01:11 AM #2
Rainmaker
160,778
Retired Notworking
Tallahassee, FL

It's great that 93% are satisfied with their reverse mortgage. Wonder why anyone would be dissatisfied - any idea?

Jan 10, 2009 02:42 AM #3
Rainer
84,417
Michael Pinter
First Meridian Mortgage - Brooklyn, NY

People can be dissatisfied if they were convinced to put teh proceeds into another product (e.g. annuity.) Thankfully that practice was made illegal a few months ago. I can imagine that if someone does not understand how the product works, they could be dissatisfied after they take it.

Michael Pinter

Jan 11, 2009 05:44 AM #4
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Rainer
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Michael Pinter

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