Does anyone have any advice for selling a reverse mortgage?

Answered by:

Paul Flick

Ramsey-Shilling Associates
1 Question Answered
Answered on April 15th, 2019

Yes, I had a client who needed to move into a property where he could obtain a reverse mortgage. He was in his mid 80's and not well. He lived in a very nice condominium in Studio City CA but it was not FHA approved and that is a requirement for a reverse mortgage. 

I finally found him a suitable condominium that was FHA approved. He purchased it with a reverse mortgage and worked with a Reverse Mortgage Manager by the name of Kathy Burns. She is with OnQFinancial. Her cell # is xxx-xxx-xxxx. I would not hesitate to use her again and think she did a great job. She held my client's hand thru out the process. One thing to keep in mind and she will talk to you about this, is that the person who is obtaining the reverse mortgage will have to talk to a "counselor"  on the phone to make sure he or she is completely aware of what they are doing and what a reverse mortgage is. 

This was a great product for my client.


Paul




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