The site http://reversemortgagealert.org was set up to explain reverse mortgages, which is a financial product for homeowners aged 62 or older who have accumulated home equity and want to use that equity to supplement retirement income. The main drawback of a reverse mortgage is that they are complicated and so the site was set up explain what these products are and provide a range of information to help homeowners make informed decisions and make the most of the reverse mortgages.
The information contained in the site includes state-level data such as in Maryland and Ohio on housing resources for seniors. These resources include population and reverse mortgage statistics for the state, a list of local housing counselors and a list of local Department of Housing and Urban Development (HUD) offices where senior homeowners can obtain information and advice.
Reverse Mortgage Alert also reviews of a number of leading reverse mortgage lenders including One Reverse Mortgage), American Advisors Group (AAG) and Urban Financial Group (http://reversemortgagealert.org/reverse-mortgage-lenders/urban-financial-group-review/). Within each lender review, the site provides important information on the background and history of the company, how previous customers rate the lender and Reverse Mortgage Alert’s opinion of the lender. The review informs the homeowners on positive and negative aspects of each lender and helps them choose the best lender that suits their needs.
In addition, the site offers useful consumer information on how much reverse mortgage loans cost including insurance premiums, origination fees, servicing fees and other third-party fees, which need to be paid. There is also a page on reverse mortgage scams where homeowners can find information on the types of fraud that occur, tips from the Federal Bureau of Investigation (FBI) on how to avoid fraud and how to report it.
Reverse Mortgage Alert is a site launched to guide senior homeowners through the complexity of reverse mortgages. The site contains a wide range of information and advice on what reverse mortgages are, eligibility criteria, the options available, and the pros and cons. The site also provides an online reverse mortgage calculator.
Prospective customers can find more information on http://reversemortgagealert.org/maryland/
Company Name: Reverse Mortgage Alert
Contact Person: Allison
Address:208 E 51St St
City: New York
Country: United States