I wanted to get out of credit card debt, so I went with Liberty. The woman who came and talked to me knew a lot and she really helped me through it. She was also friendly and able to answer my questions.
We appreciate your feedback, Rebecca! We aim to provide the best service for our customers!
Original review: Nov. 26, 2016
I took a class and Liberty explained everything very thoroughly. I had a lot of questions 'cause I didn't know a lot about it. They provided some information that I asked for after everything was completed and were very thorough.
Great feedback, Peter! We genuinely appreciate it and we’re glad to hear that you’re happy with your experience working with Liberty.
Original review: Nov. 15, 2016
Liberty Mortgage made the Reverse Mortgage experience both educational and understandable. Always quick to respond to my questions at each step throughout the process, and then following through showing me at each step exactly what they promised.
Geraldine, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
Original review: Nov. 14, 2016
I got a phone call from Bharat and he discussed about Liberty with me. He did a good job telling me the ins and outs about their home equity solutions and I really thought that that would be something that could help me out of my home situation. They really helped me a lot, everything went smooth, and it didn't take that long. I was able to get in contact with all the people I need to be in contact with. Yvette and Bharat called and kept up with me. I could call them anytime like if something came up that I didn't understand. The DebtHelper people also really helped me and were very kind. It was really a good experience for me.
Now I'm in the process of doing some repairs around my house. I've been calling some contractors because I wanna get it painted and I have a little wood issue that I need to have repaired. I had a little garden in front of my house and I was able to get somebody to come out and repair that. Everything is running along good. Looks like Christmas is gonna be good in my house.
Terry, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
Original review: Nov. 9, 2016
Liberty's loan administrator was great, bubbly and happy all the time. She called me when she really didn't even need to have to call me. Everything was pretty prompt and on a timely manner. However, I got this thing from PRC, I don't know if they were the underwriters and I was under the understanding that Liberty was going to hold the loan.
I'd already started some paperwork with AAG and didn't like the person that I was working with. He was very snooty, snotty, blunt and bland. He has no people personality. I brought up some situations and he acted like I was a dummy and I didn't like that. I've never gone through this so I had a lot of questions for him. They probably offered as much or more than Liberty did but weren't as cordial and polite. They seemed like they wanted a little more information on some things than I was willing to give. I just didn't like that person and I told him so on the phone.
Then, I worked with another person with Liberty and she was great. She did a lot of the paperwork and I can tell that she's very into her job. Since I had a lot of the paperwork already done through AAG, this made it a little easier for them and they picked up on it. They did everything on a timely manner and were very professional and personable.
Great feedback, James! We genuinely appreciate it and we’re glad to hear that you’re happy with your experience working with Liberty.
Original review: Nov. 8, 2016
My sister and my next door neighbor used Liberty. They were really happy with it so I started thinking about it also. All I ever wanted was to have no house payment but I had a lot of equity in my home and I was concerned about losing all that. After really looking into it and talking to people, I was pretty much convinced that that really wasn't the way it was. So I felt pretty confident about getting a reverse mortgage. Everything went smooth with Liberty and I was real happy with everything.
The Liberty Home Equity representative who came to our house was excellent and his service was outstanding. He brought his own mortgage closure which was seamless and excellent. Their sales process was more than smooth. It's better than getting a mortgage. Like all other people, we have our doubts, but once we got done talking with him, we were pretty well sold that this was a legitimate deal. And it’s good for us because we’re 69 and we don’t intend on owning a house. They’ve done a great job.
I decided a reverse mortgage would be good because my credit was not good. I had no job and I only had my social security, so refinancing was out. We had to move fast ‘cause I didn’t want to lose the house or get behind. The rep of Liberty was very good about it. He got everything done very quickly and we flipped it to a reverse mortgage in time that I didn’t have any problems. They provided me with a lot of counselling and they were very nice and were always available by phone.
Great feedback, Joyce! We genuinely appreciate it and we’re glad to hear that you’re happy with your experience working with Liberty.
Original review: Aug. 1, 2016
I have a daughter who is in real estate and she helped us decide to go with Liberty. The loan officer was not as knowledgeable as he should have been. I'm not unhappy that I did what I did, but I probably should've looked around more and had a better interest rate. I didn't think their overall organization was as good as you would expect.
Working with Liberty has been very good. The lady we worked with was very experienced. She would help us even on weekends.
Maria, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
Original review: July 22, 2016
Our daughter who helps us with our business was concerned about our future, so recommend Liberty to us. We went to talk to them and we were very pleased. Working with the loan officer was very pleasant. My husband, my daughter, and I were very well received, and we understood exactly what we were going to do. The guidance was very good! Plus, the owner of the company was a very agreeable and kind person - we really like and trust him. He was the one that was explaining to us what we were going to do, so he was very important in our decision. Liberty saw our situation and offered us what we needed and we got it, so we're very satisfied.
Thank you, James! We appreciate the time you spent to share your feedback! We’re happy to hear we were able to provide the service that you needed.
Original review: July 18, 2016
I needed money so I did a reverse mortgage with Liberty Home Equity Solutions. The people that helped me were very nice about it. They answered all the questions that I had and they were very good with discussing options with me.
Dean, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
Original review: July 16, 2016
The rep from Liberty was the second person I sat down with and I was satisfied about understanding everything. We discussed different options and everything’s good. I have no problem with anything. I’d recommend Liberty to a friend.
Karen, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
Original review: July 12, 2016
A friend of mine recommended Liberty Home Equity Solutions and introduced me to Bob, one of their loan officers. He was great and on top of everything. He answered all my questions and was genuinely caring and very helpful. Liberty gave me a ton of information, and they were very thorough. It was a great experience. It went very well, and in fact, of all the loans and refinancing I've done, it was one of the best.
Great feedback, Terry! We genuinely appreciate it and we’re glad to hear that you’re happy with your experience working with Liberty.
Original review: July 3, 2016
I felt better and more comfortable doing a reverse mortgage. I did some searching and went with a company, and then compared them to Liberty. Liberty by far was the best. They worked with me a lot better than the other one. I trust Liberty. Their rep answered all my questions. I slept on it since I wanted to make the right move, and then, I got back with them. The rep was very patient. She stayed with me and reassured everything was going to be fine, which turned out that way. It's a simple process, but the other company I went through didn’t follow up and made comments that didn’t sound right. Liberty was true blue all the way. Their follow-up was within hours, they kept me informed all the way through it, and I'm very happy.
My wife looked Liberty up on the website and said that they were at a good rating. So, we went with them, and our experience with them was okay. The process took a long time but that’s normal, and everything seemed to work out all right. Also, their lady rep was really good at informing us of what was going on. However, their general fees were more expensive than some of the others, and some places didn’t charge some of the fees they did. They said the appraisal was $400, but it ended up being $550. We paid the appraisal and then they billed us again for the appraisal, but we finally got it back. There was also another charge that we weren't supposed to get, but they ended up giving that back to us, too in a reasonable amount of time.
I needed to be able to not be paying a mortgage, and a reverse mortgage was best for what I needed. A reverse mortgage doesn't always make sense up front when you're first learning about it, and the Liberty loan officer explained everything and answered all my questions. He came out to me to fill out all the paperwork. I did not have to go to his office. He was really nice to work with and I appreciated that he took plenty of time to explain things to me. There was a couple of times that I didn't have some of the right stuff that I had to send in, but I could just fax it to them or scan it so that worked out real well. I would recommend them.
The loan officer was courteous and answered all of my questions, but the communication about the closing cost wasn't very thorough. A lot of it was because I misunderstood what they were saying. I'm not a financial person, so sometimes things are lost in the translation. But when I got the documents, it was all very clear. Maybe it was just that I read better than I hear. Everybody that I dealt with was very thorough and professional.
A person at church that I trusted gave me Phil's name at Liberty Home Equity and I got a reverse mortgage from them because of Phil. He helped me through the process and I got some money here last week. I'm just getting ready to pay off the pickup. The lady loan officer was real nice and very thorough in a meeting I had with her. I miscalculated on what I owed and had to ask her to send me some more papers to increase the amount that I borrowed and everything has turned out all right. It was fine overall with Liberty.
I own my house free and clear. I'm getting old and don't have any family to leave it to and figured I'm sitting on a cash box. My initial contact with Liberty Home Equity Solutions was really good. Also, I didn't want to apply to too many companies because each inquiry drops the credit score 41 points so I was limited to one. And after I talked to Liberty, I called my friend who was with them, too. The loan officers were really proficient and excellent. I wrote to their supervisors and complimented them. I received good guidance from them, too. But I had one negative at the end which was the closing notary that they sent. It was really bad, though it was a third party and wasn't part of the company.
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I chose a reverse mortgage mainly because it was a legal deal. This was my last resort. My wife and I are over 70 and we figured what difference did it make. I was gonna refinance and I originally had went through people I'd finance before to get a refinance. But I'd had to file bankruptcy about three years ago and I basically didn't qualify for FHA. It was a personal service in a sense from the local agent named Gary that I got, which set me up with Liberty. The agent came to the house and we sat down and talked over stuff rather than on the telephone or over the internet. However, Liberty cost me a little more money.
Everything was cleared up. I decided I wanted some equity in my house which I really wasn't ready to sell. I haven’t used any of the money, but it gave me the freedom to do what I wanted to do. It also gave me and my wife some flexibility we didn't have. I'd recommend Liberty if I know anybody else that's looking to reverse mortgage and tell them to contact Liberty and see what they can do anyway.
I decided to get a reverse mortgage because it fits my needs from the payment. I had my mom in my house and other people helped. And when they left, everything changed. My mom passed away. She got me this house like she was living in it. So, it's a special thing and I needed to keep it rather than move. I went with Liberty Home Equity and have done two reverse mortgages with them at the same time of the year. The first one was a little hard. Laura, the loan officer was distanced and was just busy during that time. But she came out here for the first information, then we work through the process and then she came out with the notary. I liked that. In contrast, Jim, the loan officer during my second reverse mortgage, didn't do that. But he must have done differently because he knew that I had gone through it once. But he was okay. He even sent me a thank you card, which was very nice of him.
The only guidance that was different is because my house appraised so well that we had to switch it from the 6th which I had it originally to the variable. So, now I have a credit line which I'm leaving. Jim had to tell me the differences between them because I have big fears about going variable. But now, I don't. In fact, the lady that came that does the notary had the exact same loan with the same servicer. She's got her variable monthly, mine is yearly. She told me not to fret about it and that there's an advantage to it which she shared with me.
The appraiser was wonderful too. She was here in the area. But the only thing I would have really preferred is to do my paperwork like I did first time around with Laura here at the house and her giving me the upfront information. I do prefer to have a little bit more hands-on during the process than by phone or by mail. And this is the most important asset that Liberty has which is very important to people. Unfortunately, it does take a little bit more time and effort to make that personal call to come out, give the information upfront, explain it all to them, and get the process going. But that's the way to do it. I know they’re all over the place and it's hard to do that. But nonetheless, there are people that appreciate that. And I think people would probably wanna go with Liberty a lot quicker when they know that.
After I expressed interest through AAG, Liberty contacted me. I assumed that they were a part of a bank holding company that was owned by AAG. I didn't have a preference as to who handles the reverse mortgage, but I had a lot of questions about it. They answered my questions and sent me literature and I read it over. I was a broker/owner for 30 years. So I was familiar with the mortgage instruments in general and it was natural for me just to ask questions. I knew which questions to ask and they did a good job with providing me answers. The loan closer sucked but the originator did a great job for us. I'd recommend Liberty.
My brother had a reverse mortgage and said it alleviates a lot of worry. So we thought we'll give it a shot. My wife called someone with Liberty and he was honest. He explained things and was to the point. We were happy with the way he pulled it off. Everything was good with the loan officers too. They were patient and good at explaining. If we didn't understand, all we had to do was say so and they would go to great depths to explain it. However, getting the mortgage was a little slow and altogether, took almost a year. But that wasn't their fault because when we needed them they were busy and when they needed us we were busy as well. If anybody ever ask me, I will recommend them.
We thought a reverse mortgage would work better for us. We just closed and so far, so good. Angie and Peggy did a fabulous job. We would recommend Liberty Home Equity. It's nice knowing that we don't have a house payment now.
I've been battling cancer for 10 years and I've got medical bills. We have everything we need, but it doesn't pay anything substantial on all these medical bills. Our income is not big and mortgage was $500 a month. So to get rid of that, we decided to go with a reverse mortgage. Liberty Home was so helpful and did everything to get us the reverse mortgage. The rep we were assigned to, Anthony, was wonderful. The people they turned us over to in Michigan were also great.
I was looking around at reverse mortgages and talked to about three of them. One of them didn't really seem to think much of the whole idea. So, I left them out. I came across Liberty and one other outfit. Liberty is in the Sacramento area. I could get down there if I needed to, where the others were way out of reach. The Liberty loan officers were good. They seem to know what they were talking about. They answered my questions and did the paperwork. Everything went seamless even when I never saw any of them there because we were over the phone. At this point, things seem to be good. Going with them achieved the primary things that I wanted to do. I got rid of the house payments.
Money was our deciding factor to avail of Liberty Home Equity Solutions' reverse mortgage program. Murphy was our loan officer and he was very nice and informative. He came with a partner and after that, another woman came out who was from the funding company. We were there with her for about three hours.
We've been thinking of calling Liberty for a couple of years, and when we finally called, our initial representative was Liz. She was very nice and she really didn't pressure me. When we took a little bit long, she called and checked with us. After passing all the initial stages, we changed to Peggy because that's another step, and she was equally as friendly as Liz. We live in a 200-year-old house in an extremely rural community and we had trouble with the person that comes to give us a value of the house. It was somebody that they hired to give us an impartial value on the house, so we knew how much we could do it, and she was extremely horrible. When we had to have her come back to inspect, she was on vacation. And nobody else could do it. So, we had to wait for like five or six weeks for her to get back from her vacation.
Liberty were really nice but it took about nine months to get what we needed. Both Liz and Peggy said, "I've never seen anything like this." They were great and they would check in all the time. It wasn't their fault. It was a horrendous ordeal for Liberty as well as us, and it was all due to a third party. Liberty tried interceding, and they were on our side the whole way. They were wonderful and they were encouraging us in trying.
Barbara was honest and forthright. I checked with a couple other reps and both of them were devious, while Barbara answered the questions that I had and made everything simple and straight to the point. Liberty was supposed to follow up with some paperwork but I didn't get the one on final closing cost. Other than that, I'd recommend Liberty easily.
I chose a reverse mortgage because I didn't want to make payments. I'm retired and on social security, so that's great for me. I went with Liberty Home Equity for my reverse mortgage because I thought they were related to my original loan company that had told me a long time ago to call them if I was interested in that type of loan. The Liberty loan officers were excellent, flawless, and perfectly informative.
I needed the money and a reverse mortgage is the only way I figured I could get it. Liberty was the first one I called. Their loan officers were quite helpful, courteous and seemed to know what they were doing. They discussed the options for me quite well. We managed to get through it and the process took three months. Their fee is separate, but reverse mortgages aren't what they're cracked up to be because we're only getting 60% of the equity of our house. Other than that, everything worked out okay for me.
Hello Larry, We sincerely apologize about your experience with Liberty. We appreciate your feedback and would like to make things right. Someone from our customer service team will be contacting you within 48 hours to help assist with your resolution.
Original review: April 2, 2017
We got online and finally decided on a reverse mortgage. I did some looking at the Better Business Bureau and Liberty is in the top 10. And I was very pleased with the person that I contacted. They began sending emails and stuff to read. And then, they sent us a sample contract about the middle of November. We spent over two hours on the phone, going over page-by-page of about 120 pages of documents. They made it clear that they would sell the contract to someone, probably OCWEN. We were working with Liberty the whole time and we worked primarily with two people, and this was all by phone. We trusted them.
We were going to close on the 20th and they were having a hard time with their documents, and I couldn't get the set of documents to review that they said would be the ones we would sign. We signed our name and initialed pages after pages of contracts for 35 times. They have maybe four contracts or five, plus acknowledgements of this Federal Statute and this Statute and all these other things. There was a lot of documents involved in trying to get everything done, which we felt we had complied with. They wanted all of our information including our appraisal and everything. That was done I believe in December.
Everything was going on pretty good until the push began to set a date. We were satisfied that things looked like we thought they ought to look. And there were things that we didn't totally understand but I said, "You know, just as long as I have an opportunity to read the documents that we're gonna sign before we're requested to sign it." And they have a stacking order that listed all the documents that they anticipated would be included, including extra ones for things that didn't apply to us because of a lot of different things. Prior to that, we had received a set that she anticipated would be the set and the numbers were not finally complete because the interest at the time didn't apply when we were signing, and other reasons. But I made it clear. I said, "I've gotta be able to see the final document."
We were going to close on the 20th and the documents arrived on the same day. So, we decided to move it to the 27th of January. And then when I did get the stuff, I couldn't read them. And so, I called them and I said, "You know, I can't do this." And all we had to go by was the two people we had talked to. Everything was going to happen on the 27th, the closer will be there at 10:00 in the morning and it will take a couple of hours to sign all these documents. And the closer said that she would not be able to be there until 1:30. And she came in and she's got this big stack of documents that are not assembled, we're gonna sign hers and somehow, we'll get a copy or whatever.
So, we started out and I said, "Well, let me look at the first page." And she said, "Well, we're not gonna have time." I said, I've got a rule. I'm not gonna sign anything I don't know something about. We called and talked to the lady that I've been dealing with and I said, "You know, this is not gonna work." So, we settled down and I said, "Okay. We'll go ahead and sign it if you'll guaranty me that I'll get a copy of this pile of stuff."
I had this big list that was 129 pages but she had 192 pages. And the gal was on the phone. So, finally, I said, "Okay. Let's just go ahead and sign it if I'll get a copy." "Yes, you'll get it." So, we signed everything. And they had such a good reputation. And I really trusted the lady that I communicated with. We had three or four days that we had to sign, we could submit a cancellation letter and cancel the whole mess. And we thought about it and I said, "You know, I don't wanna do that. Let's just let it go. Maybe I'm being a nit-picker, I don't know. But I think it's reasonably fair. If they have enough time for them to put a stack of documents together, so I can get a copy." I let it cool. I called and left word that I needed to get a copy and actually see the documents that Nancy and I actually signed. For about three weeks, nobody called back and I called about twice I think or three times. I thought, "Maybe they had things to do."
And then we got a notification from the title company who's a separate entity. Title Company is the name of the people they used. And they sent a closing statement that had all the stuff. And it was just like what we'd looked at. So, no problem with the financial part of it. So, then, here came from my own title company here in town, two filed quit-claim deeds wherein-- somebody with Liberty didn't like the idea we had a trust. We have all of our property under trust because we're kids and we don't want to fool with it and have it probated after we're gone. So, anyhow they decided that they could take the property, the property that they're gonna mortgage out of the trust. I hadn't seen that document before and I said, "This is a strange thing."
I don't think they can do it without our approval. And if we decide to put it back, we don't need their approval. So, I said, "Well, I'm not gonna worry about that today. But I still called and I finally wrote an email. I sent another email the lady that helped and she wrote back and said, "I've been sick and I haven't been able to do this. And I can't seem to be able to get a copy of the final documents."
In the meantime, OCWEN did what they were supposed to do. They sent us a letter saying they purchased the mortgage from Liberty which I was expecting. And so, that's fine. I called them because I wanted to know a little more on how it’s going to work and I would like a copy but they said they don’t have a copy yet. So, I wrote another letter around March 15 to tell them we’ve been trying to get information and we are waiting for a response. She responded that she couldn't help me and that their side of the contract was closed. It was locked-up and they couldn't touch it anymore. Once they've sold it, their hands are tied and they can't do anything.
Then OCWEN came in the mail and had taken the first month's interest because we had a small home equity on it they paid off. I called them on the phone and asked for a copy but they said they don’t have it yet either. I waited for about another week. And they have what's called a client, I asked him for it. He said, "I can send you a copy. I don't have a copy of the other documents and I don't know that I can get to it. But I can send you a copy of the contract that we're working under." So, I got it and it was 12 pages. And I told him, "I would really like for you to open that file somewhere, wherever it is. The mortgagee is entitled to have a copy of the documents that he signed." He called me and he said, "I can send you a protected email and send what I've got."
It was 127 pages and I went through every page. And as far as I can tell, he's got most of it. But there were documents that I signed that were not in this. It's not that I don't trust them. It's just that I feel like whomever comes in and settles our affairs whenever we're gone, that they will be able to figure out what kind of a contract we had on this reverse mortgage. And I don't know if Liberty is growing pains right now or they're too busy for what they're trying to do, but I just couldn't understand why they wouldn't call back.
We're kind of straightened out, but I know that there's stuff that I signed that they didn't give us. And I don't know why they had it signed. Maybe they have two attorneys or three attorneys that are real estate attorneys and they go through this stuff as it develops. Anything they asked from us, we gave them in terms of information about us. I feel like it could have been just great but it turned out to be a mess, and I was unhappy about it. It's really strange that Liberty would send me a, "We'd like to know how you were treated.”
If you look at a reverse mortgage, there's a lot of people that have big debts and they're taking the equity from their house to apply to this debt. We were not in that condition at all. The total amount of our mortgage was about $190,000 that we could use and we had a $30,000 home equity loan against the property which they paid off. I told the guy at OCWEN, that's the mortgagor, they're the ones that are gonna give us money when we want it. But I don't want any money, not right now. I said, "We're fine. I'm just doing this while I'm able to do it."
I guess I was disappointed. This lady had a boss. She was the immediate supervisor right above her that was down in the pit doing all the work. I wrote her an email and heard nothing. All this is gonna do is make people mad. I did tell the person that we dealt with the whole time, I said, "We go on trust." See, they had this document in there that would allow us to cancel. And once we got beyond the three days or whatever it was, then somebody changed hands, then they were through.
But I'd say probably I'm 70%, 80% satisfied that they have included stuff that I'm very happy about. This mortgage was tailored we think to fit what we wanted. We have a big old house on the edge of a hill, beautiful landscape. We've got enough money to live here for the next 10 years without having to move away. We don't know whether we're gonna be stricken with something here five years from now or two years from now but the way this reverse mortgage is setup, we build and we pay into a Federal insurance program where we can stay here until we physically no longer can stay here. They can't take it away from us. For as long as we can pay the taxes and the utilities, we can stay here. That was really important to my wife and she gave me an extra hug for that.
But here we are and there still has been no one from Liberty because I don't think they feel obligated they have to. It's because their excuse was it was out of their hands because the stuff was locked up and they couldn't touch it. Well, the day after that I signed it, somewhere in there, there could've been somebody to xerox the pile, or at least, the pages that we both signed. This wasn't locked up until they sold it over. I'm happy with the end result, I don't know whether the document might show up.
I wanted to get out of a house payment because I refinanced and then they made more payments on me. The house wouldn’t have been paid for until 2035. I’m getting older and don’t know how much longer I’m gonna work so I got a reverse mortgage and Carol, the loan officer from Liberty, was awesome. She was nice and answered my questions and everything I needed. I really appreciate her. I also received good guidance though I had to go through the counseling on the phone. Since I did the reverse mortgage, I just had to pay the insurance and taxes and didn't have to make any payments on the house. That was a big thing off of my shoulders. Liberty treated me well. I’ve already recommended the company to somebody.
I was very happy with the way Greg explained it to me. I'm very pleased with his efforts. He was very patient. He made me feel like he knew what he was talking about and I was the only one in. My house isn't whole value, and it isn't worth very much. I looked into the reverse mortgage, and didn't make an instant decision. This was not an emotional decision for me but under the circumstances it made good sense to do this. And I'm a happy camper.
Liberty Home Equity was easy to work with. The loan officers were helpful and if there were questions, they were very clear with it and laid out what I needed to provide and kept me updated. But the real benefit was the counseling session that explained the whole process in more detail. I’m certainly going to recommend Liberty. The process moved along steadily and the outcome that I wanted was only provided by the reverse mortgage.
I wanted a reverse mortgage and I went through the internet to search it out, and I found Liberty. They were wonderful and they mailed me stuff appropriately, and the deal was just fine. My only concern is it's a floating mortgage-- what it's gonna end up being. But Steve was very good and answered all my questions and explained everything.
I could only save 150 dollars a month, so I decided to start working to get a different mortgage. I thought I called AAP but it was Liberty. I called AAP afterwards and none of them could give me the money that Liberty was gonna give me. Overall I would tell others to go with Liberty. They're better than some of the known ones.
Laurie was very informative and we worked quite well together. She's very calming and was able to answer my questions. I had a good experience with Liberty Home Equity.
Overall, Liberty is great. I was looking online and it said, "Click here for information on reverse mortgages." I clicked on it, and I filled out my name and my phone number and then I went back to reading my email. About 15 seconds later my phone rang and it was that quick. When I dealt with the guy at Liberty, Eric, I asked him a question and it took us ten minutes on the phone before we were comfortable with our communication styles, which was not negative, that's just life. If I meet somebody and start talking to him and I start describing something, I don't know that he's getting what I'm describing until I get feedback. That's what we each did with each other. We just talked, and we established a bit of a rapport so that I can ask him a question or a quick question in email and say, "Well, no. I need to look more on this." It was absolutely great.
He explained everything that I wanted, and when I had follow-up questions, he answered up. He called me with follow-up questions, "Are you sure you don't have any other questions?" So with that, Liberty was great to deal with, and I highly recommend Eric to anybody who wants to go for a refi with them. With Liberty proper, I had a great experience. When it came time to closing, it went to hell. So, the title company, I don't care what they do. I haven't seen my first statement, but I've seen emails leading up to them. I'm not making house payments anymore, so I'm still sitting here a little bit apprehensive. So, it's a reassurance to have a paper to touch and feel.
I qualified for a reverse mortgage. It initially started out that the competitors were gonna charge me $5,000. Then I got connected with Liberty Home Equity and they said that I would not have to pay that much because they had a different way of getting the loan money. Though they told me that it would still cost them $5,000, it would be shouldered to me and they would take it out over the loan term instead.
Their loan officers were excellent and they were prompt. They stayed with me because it was a long drawn out process for my part. They also discussed my options and I already got something in the mail with more description of how that worked, but I'm still a little vague on it. I got the check they sent me and I do know it could take up to five weeks to access the remainder of what I have, but I still don’t know what is available this year to me and how to access it. However, they told me that if I needed more money or if I have any questions, to contact them. But other than that, I'd recommend other clients to Liberty.
I was doing online research on reverse mortgages and Liberty just seemed right for the time. We're up in years and we had two cars with extremely high mileage. We do a lot of travelling. So, we decided to buy a new car and use some of the equity in our home that's not doing anything just sitting there. One thing that wasn't made clear initially was the counselling session took place two-thirds of the way through the process rather than telling us, "Do this first." So, that delayed things for maybe two weeks but we weren't in a hurry.
Kristine, the loan officer we spoke with, was very prompt and professional. When she said she'd call back, she did within minutes. We've had a few minor hiccups along the way, but they were all taken care of very quickly and efficiently. So, I couldn't have asked for better help. The only negative thing I've got to say is just it seemed there was a lot of repeated paperwork but it's probably a HUD requirement. So, I don't expect it to go away.
The gentleman from Liberty Home Equity Solutions that I spoke with was informative. I checked out four different companies but he explained more thoroughly than anyone else. It couldn’t have been any nicer and I wish he could keep walking me through everything else we sell in the house. On the whole, it was an absolutely wonderful experience and I have recommended Liberty.
I was looking at Liberty and one other company and had talked to both, but the best response that I got was from Liberty's agent, so I got a reverse mortgage with them since it has a no payment feature. Their loan officer was very thorough in her original presentation of the program. She was also punctual and kept me informed all the way through the process. We were able to communicate through email and everything just went smoothly. I’m a retired real estate broker- loan officer and I haven't been in the business for more than 10 years, so it surprised me how much the paper load grew and it was unbelievable how much paper I printed out and received.
I pay own taxes and insurance, HOA, and working with Liberty has accomplished what I wanted to set out and it has given me cash to do some stuff with. However, I got a notice that said that it has been assigned and at the bottom mentions that it was from a debt collector attempting to collect a debt. Also, it mentioned, at the top of it, that the ownership of my mortgage loan was transferred to Ocwen Loan Servicing.
I have no idea why I went with Liberty but it's okay. The fellow I worked with was very helpful and patient. And that was important for me because I didn't understand a lot of stuff and I wanted to always clarify. But I was satisfied with Liberty. The only thing that I was disappointed in is that I didn't know who the company was that would be taking over the paperwork after they are through. It would have been nice if they would have told me who was gonna be taking over my loan because I was under the impression that HUD would.
Liberty Home Equity Solutions, Inc. Company Profile