The people I talked to at Liberty seemed knowledgeable and friendly. So, I decided to not bother to shop around. I didn’t want to have to keep paying a mortgage, and then, find that I might have to have some repairs to the house so I just went ahead and got it. The loan officer was Linda and she was just great. She followed up and explained everything. And she had wonderful patience. Overall, satisfaction guaranteed.
I’m retired and just getting divorced. My financial adviser said that reverse mortgage was a possibility and I could use that money. Liberty gave me three or four different choices, different percentages, and different costs. The others that I checked, they just gave you one cost and one percentage. And I’ve had experience with them before which I enjoyed. So, I knew them and that was important to me, too. Because I got letters saying, “Get a hold of us before the percentage goes up.” They realized the housing market has appreciated, so they want you to go with them. The loan officer is the same guy that I talked to before. This is actually an extension. So, because the market and housing has gone up, I think mine was originally $190,000 and it re-appraised at $235,000. That allowed me to get some more cash, have access to more cash and my line of credit.
Their reps were friendly, easy to deal with. There were good communications with them all throughout the process. And they were willing to work with me. Initially, their costs were a little bit high and I talked to my financial adviser. Then, based on that input, reduced the cost where I thought it was a good deal for me. And I went forward.
No one being here at my house, I went with a reverse mortgage. The loan officer was very nice, her conversation with me and her rapport too. I was in the phone with her several times. Probably six or seven, or eight and I didn’t have a problem with the guidance from them. However, many times I’ve tried to get a hold of them and I couldn’t for one reason or another.
My grandson is in the financial business and he heard good words about Liberty Home. He then went online and researched about the company, and gave us their details. I ultimately chose to go with Liberty Home because the people were nice, and they explained the process to me a lot better than most people do, business-wise. I then chose their reverse mortgage because it seemed to be the easier program than the other three they had that I had been reading about. Our loan officer, Patrick, would call me every other day to explain the process to me very simply and ask how I want to go about it.
I liked that with a reverse mortgage, I wouldn't have to pay the loan back if I didn’t want to. Liberty was the first one who answered my request and the loan officer came here and explained everything to us. She answered all our questions and I'm usually full of them so I appreciated that. We had to go through counselling which was really helpful.
The value of our house had gone up and I responded to Liberty's offer to refinance. That started the interaction which was done over the phone. However, I was a little short with the processor because he happened to call me with a question about the time I had three family emergencies going on. Nevertheless, my experience with Liberty during the original mortgage and the refinance was thorough which I like even if it was long. My husband has Parkinson’s and he's in the advanced stages. We had used just about everything in trying to modify the health to keep him safe. Now, we have a little room again for emergencies.
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I chose a reverse mortgage because I'm on a fixed income with disability. I compared 10 other reverse mortgage providers and with Liberty Home Equity Solutions Inc., my children would be able to pay off the loan and retain the house if something happened to me. The loan officer kept me up to date on what I needed. I was told that was one of the cleanest papers that they had as far as getting all the forms and everything to him in a proper time frame. It was four days from the time I signed the papers until it went through. They were very straightforward with my questions and very thorough with the answers. They also made sure that I understood what they were saying. They did not use mortgage bank talk so I enjoyed that experience very nicely. I was not talked down to but very informed. It was an excellent verbal service and they did what they said. I'd recommend them to anybody else who is going to do the same process.
I was looking for reverse mortgage online when I stumbled upon Liberty. I then put in a request to have some more information, and learned that they have a local contact I could meet with face-to-face. I really liked the idea, and it made me pick them over the two other companies I was researching on, since they do not have such contact. The loan officer that I met with seemed like a very knowledgeable guy, being able to answer all of my questions. He also showed me on paper how he could answer all the questions I have. He explained to me upfront how long the process would take, and when we signed the paperwork, he came to the house and brought the title company agent with him. We sat here at the table with my wife and got it all done. I felt like that it was he dealt with me honestly and openly. It was an all-around good experience and it didn’t take too terribly long.
I googled home reverse mortgages and there were three top choices that were rated the highest and so, I chose Liberty. I’m pleased with them and they worked very well with me. Everybody I worked with was nice, polite and informative. It was very comfortable talking with everyone. The loan officer explained everything to the tee and I understood everything that was going on. It was a good experience.
We wanted to remodel but then we ran out of money. We bought our property with cash so I was looking at reverse mortgage loans. Liberty Home Equity was really friendly. Despite the fact that I bought the property only a year before, they didn't think I was wack. Furthermore, they were really helpful and led me step by step through what I needed to do to qualify. They even sent me brownies. Also, Liberty told me that I had a lot of options. I looked into everything and decided that they were more qualified than I was.
However, there was an issue regarding the signing with the notary public. I didn't have some of the information that I thought I should have had. I had to order checks in special to get the signing done. It's been a couple of weeks now since I sent out the duplicate checks for direct deposit and I still haven't heard from them about it. And so, I don't know if I sent it to the right place or not.
I saw the reverse mortgage ads on television a lot and it sounded like it'd be a real simple deal. It's far more to it than I thought. It's basically a home equity loan. My home is paid off, I got a good amount of equity, I just retired. I no longer have a rainy day fund that I've always had. Then what appealed to me was that there's no monthly mortgage payment on it so I'm pretty much debt free. So I made the call to Liberty Home Equity Solutions. They took the ball and ran with it. I got the loan for about $90,000 and I had them give $30,000 to start with. It's there if I needed it for things in the past like a lot of medical co-pays.
The only one that I really talked to was Wade. He called me and we set up a time and he came to my house. He was a very good, nice and helpful person. He answered my questions and got the thing going for me. I really liked him. To me, he was the whole company. I was supposed to get counseling or tutoring on the whole idea of reverse mortgage from someone. He set that up and that went fine. They took care of what I needed from them and I don't have any regrets. It's all set up for me now, I was very satisfied and I would recommend them.
I’m retired and I can’t get a home equity loan without having an income. I chose a reverse mortgage because I didn’t have to make a payment. I had looked at four different companies from TV or online and Liberty Home Equity was one of the bigger mortgage lenders in the market. After I went through and started looking at all the companies, it boiled down to a couple of the same factors over and over again. I pushed all the reps on the spread between the liber and what I’m gonna pay and how much they wanted for an origination fee. Finally, I ended up with Mike, from Liberty, because he was the most straightforward and they moved a little bit on the rates. Once I got through the phase where they quoted the rate and we agreed to it, we had to get the appraisal, which was a rigmarole. After that, we had to go through closing, which was another whole process. It took a full three months from start to finish and we got through it all.
Everybody takes you to the counselor and what the counselor should tell you is there are only three items to consider in a reverse mortgage. All the rest are standard with nothing else variable with any of them. Once I figured that out, I was able to talk to these guys. They all started with wanting to know how much the house is worth and how much equity there is. They don’t want to start with hypotheticals. For example, how much can I get if there’s 100,000 in my house, and that’s where I wanted to start.
A reverse mortgage is a great product, but you have to be on your toes because they’re not willing to give you anything when they should be. For example, the origination fee. The HUD thing says they can charge a max of $6,000. When they come in, they’ll say they’ll give you $1,000 credit and the origination fee will only cost you $5,000. That isn’t even close to what it should be. That’s the game they start with and you’ve got to push them down from there. It’s still a big negotiation. I feel bad for other elderly people that weren’t ready for this. They’ll just sign away and pay the fees. Overall, I recommend people to talk to Mike. He did a good job.
We were looking to get a reverse mortgage because with our age, it was a little more comfortable for us. We found Liberty Home Equity Solutions, Inc. on the internet. Better Business Bureau gave them a good okay. The Liberty loan officer was great and fantastic. She was also very helpful and very professional. I'm 76 years old. They have explained the options with us and it was understandable. It was a good experience and it went down very well.
I investigated reverse mortgages and received calls from different people and chose Liberty. Larry called me when nobody else did. He called several times and kept after me. It worked fine and I was happy with him. He came to Des Moines, sat down my wife and I one evening, showed us some examples of what the home mortgage did, and explained to us how it would work. He further explained how we would pay if we sold the house or left, and it would draw interest. It seemed a good way to use some of the equity and our plans are to put an addition on the house. I'm 80 and my wife's 79 and we do a little traveling so we could use the equity that we’ve lived in the house for quite a few years.
The reverse mortgage sounded like a clean deal to me. I’m going to be 80 years old so the timing was right. Also, I didn’t have to work down on the house. The experience with the loan officer was good. My contact was with only one individual and I still contact him every now and then. He had all the information that I needed and he guided me through everything that I had to do which was good. I felt comfortable with them and my experience worked out fine. I would recommend Liberty Home to someone.
I started doing the loan with the people from Michigan and it took them three months to get the fund ready. Then they sent it to Liberty to be purchased. I got a call from the gentleman who came to visit me talking to me about it, and I never heard from him that's why I didn't do the loan with him. I sent him months of bank statement and he said that they won't need that. If I sign it over, then they'll do it. When the papers arrived, the interest rate on the agreement was different than what was on the document so I refused to sign. That's when Pete came in and we transferred the loan to Liberty. I gave it to him in January and we finally closed. After the loan funded, I paid for my appraisal copy and I have to give him that then I had to contact him five different times to get it back.
I also agreed to pay the appraisal and had an issue whether or not it was fully paid. One of the problems I had with both of them was I wanted to pay a portion. And they wanted me to pay a portion of my homeowner's association fee. I told them that I don't want to finance my homeowner's fee and would rather pay it in advance. I have to do that because my homeowner's association is the most disorganized thing I've ever seen and they'd never be able to figure out what to do with the partial payment. I have to have it absolutely identified or they don't know where to put it.
I felt like I had no control since everything was being done elsewhere. All the personal services are never gonna happen because my loan is somewhere on the East Coast for servicing, the processors were in Oregon, the man who helped me is in San Diego, and the title company was in Northern California. I know they can sell it and I suspect it will bounce around a lot. I can't believe that people from other services are still calling me saying, "Well, I'll call you back in 18 months and maybe you'll get a lower interest rate." I'd rather shoot myself than go through this again. I wouldn't recommend it to anybody.
Years ago, my partner thought that Liberty Home Equity Solutions is one of the best we can choose for refinancing the house. Then a year later, my partner passed away and I desperately needed some money. Social Security took away half of my income. I then had a phone call from Alan and then we refinanced the house and I got more money. It was very quick, peacefully and fast. In the time, I was very tight on money, I was very happy to choose them. I will keep the house as to how long I'm alive and I don't have sisters and brothers, so I figured if something should happen to me, then they can take the house automatically.
Their loan officer called me every other day or I called him when I had a secretary and she filled out all the paperwork, I signed it and send it back right away to the sales person. He was very polite and friendly, and he explained to me what happened or what not can happen. He was not pushy. At first, he said that I could only get half of the money, but I explained to them that I can handle the whole amount of money and there was no problem either way. So, I took for this year the amount and paid some bills and got a few dollar and then in April, I get a second loan. Everybody really was very friendly and very polite and they helped me with whatever they can help me.
I like the features of reverse mortgage, the agent that I was talking to and the explanation that he gave and the attention that he paid to us. The interactions were good, personable, available and attentive and I found their guidance to be excellent. The loan was finally funded by Ocwen but dealing with them has been a challenge. I have been in touch with my person at Liberty and he's trying to do as much as he can but it's very limited. Other than that, it's been a professional, protective, thorough and very knowledgeable experience.
Thank you for bringing this to our attention, Donna! We apologize for your recent experience and would like to assist you. Someone from our team will be following up shortly to assist you with a resolution.
Original review: May 25, 2017
The loan officer from Liberty was very pleasant. But I want my original papers back and I haven't gotten any of them. Other than that, everything was nice. Liberty is a great company to do business with and my experience with them went very well. It was fast and I was very surprised.
Vernon, We apologize for this miscommunication. Our team will contact you privately to clarify.
Original review: May 24, 2017
We did a reverse mortgage with Liberty Home Equity Solutions because it was the best deal for us since I’m 78 years old and my wife is 73. I had to go to a counseling session at first before I could do anything about it so they could explain the pros and cons of the situation. It was informative and it was what I had figured ahead of time. The loan officer was okay but they moved awfully slow. They also told me they didn't sell their loans, but they had sold it right away to Ocwen. I didn't appreciate them lying to me.
We lost our mortgage business and I survived a bankruptcy after my husband passed away. He must have been gone for five years then and I was alone. I had so few resources and I was 67 years old. All I had was social security. I looked at getting a refinance but I didn't have credit to be able to do that with Wells Fargo. And it wouldn't have been enough money anyway. It wouldn't have solved the problem and I feel bad that I'm living off of my son's inheritance, but he's far better off than I am. So he was very supportive of me going this way. So the reverse mortgage was a life saver for me. Otherwise, I would have had to sell my home and downsize and go live in some senior manufactured home parks somewhere.
I entered an estimate request online and then I received a call from Liberty. I liked the loan officer, Nelda **. She was very responsive, very professional, compassionate and courteous, and just really followed through on everything. Unfortunately, things were taken to the next level with the processor that I really didn't care for. I didn't care for her people skills and her attitude. She told me that they're still looking for an appraiser to come out two days after the appraiser was already here. It's like there was not left hand knowing what the right hand was doing in certain areas.
I was really considering moving my loan to another company at the recommendation of my realtor but the manager, Garrett ** got involved and spoke directly to the engineering inspector. There were just some misunderstandings because there were a lot of steps where things were falling through. He got it all leveled out and got everything pushed through and resolved.
My situation was more difficult and complicated than most, it wasn't just a straightforward loan. But in the final result of it, I was very happy to be able to get that loan, stay in my house and have enough of the credit line to do the maintenance things that start happening when your home is over 15 years old. So I'd recommend Liberty even though there were bumps along the way.
My wife and I are both retired. We don't have a huge income but we had a lot of equity in the house. We felt we could use that to our advantage, make things a little bit easier, and do some things that we couldn't do otherwise. So a reverse mortgage seemed like the best fit for us then. I looked for reverse mortgages and went on the internet. Liberty was the first one that popped up and I liked that we had to go through all the test and take the classes from HUD in order to qualify for them. I felt it wasn't gonna be a ripoff and it was a good legitimate company.
Everything was great with the loan officers. The two people who I talked to most were really incredible. They could answer all my questions easily, and seemed very pleasant, professional, and knowledgeable. They gave me any information I asked for. My wife and I discussed everything and decided what we wanted to do, and everyone we talked to there was helpful to us in accomplishing it. If somebody was looking for a reverse mortgage, I would certainly recommend Liberty. It was an excellent and painless experience with them.
The first time I heard about Liberty was when I got a reverse mortgage. The gentleman that I worked with the first time was very knowledgeable and seemed to be very honest and forthright. It was a tough decision to make and I didn't wanna do it but getting a reverse mortgage seemed like the way for me to go and I don't know what else I would have done. I needed cash but didn't want to be borrowing more money because I wanted to pay off bills and my house was totally paid for. And he was really good about helping me get through it.
After that, I started working with AAG but they really messed me up badly. I was six months into the process and I still did not have it completed with AAG. My house had to be appraised twice and to this day, we have no idea why the appraisal kept going down instead of up. I had wiped out the inside of my house and it had new everything and all the houses around here are going up even if some of these weren't even touched and were still ala 1998 mode. Then AAG wanted some paperwork from Liberty so I talked to Liberty and Carol said, "We'd like to keep your business."
I renewed with Liberty and when I decided to go ahead, my house increased in value quite a bit and I was then able to get more money out of it. Carol was very knowledgeable, supportive and helpful. She did a wonderful job. It's been closed now maybe a month, but up to now if I would call her and ask her a question, she's gotten back with me and answered it. I have told the people what I've gone through with Liberty.
I had heart surgery a few years back and realized that all our money was in our house and if I kicked off, my wife couldn't get to it. We were perfect candidates for a reverse mortgage because we had a lot of equity and not much of a mortgage left. They treated us well and made good when we drew stuff out. The representative, Ann, was excellent. So we got a reverse mortgage from Liberty for the second time and since I was already with them, we got a couple of discounts, especially for the closing cost which was good for us. I’m very satisfied with our experience with Liberty.
We worked with Judy and Steve of Liberty Home. Judy is absolutely fantastic and knows her business inside and out. She had an answer to any question. Steve is kind of a newbie and he had to go back and ask Judy some of the questions we asked him. But other than that, our interactions were wonderful. We were very satisfied with the results.
I had already done a reverse mortgage with another company and I hated them. So, I got in to my own money and paid it off to get rid of them. Almost 2 and a half years ago, I wanted to put a new kitchen in so I contacted Liberty. Then about three months ago, they sent me something in the mail that said they could refinance my reverse mortgage so I did it. I wanted to paint my fence, car port, and side porch. I had paints that I wanted done on the house but I didn’t want to take out of my income to pay for them because it would leave me with no money at all. And I’ve done quite a bit of work already. I’ve gotten the beds and one room of the house painted. I’ve gotten new light fixtures, too.
Both times with Liberty, the people I dealt with were fabulous. Paul was my original contact this time and he’s a living doll. He’s so polite and so courteous. He’s fabulous. But the one thing that I absolutely hated was my house appraised for $70,000 and they said it was only worth $53,000. They haven’t seen the house and I’ve got $145,000 in this house. They did not compare my house to another house like it that had rework done on it. They compared it with some real dumps. That was like slapping my face. And I’ve got to wait a whole other year for an extra two-grand. But in order to get the two-grand, I had to spend almost $1,000 which made no sense to me. The new reverse mortgage sucks as opposed to what it used to be. But though I no longer believe in the reverse mortgage process, I would refer anyone to Liberty. I was treated with courtesy and respect. They’re wonderful. They devalued my house and that upset me but everything else about the experience was perfect.
Doing a reverse mortgage seemed to fit my needs more because I didn’t want the expense of taking out a home equity loan. Liberty's customer service features seemed better than others. I talked to several different companies and their representatives, and I liked the way that Liberty approached the process better. They weren't high-pressure and always answered my questions. Also, I got good references from people who had used their products.
Reggie, the rep who I worked with, walked me through all the procedures and was very helpful. He would respond to me almost immediately when I had a question, and when he did, it seemed to be the same thing that other people had been told when I checked the references so I felt confident that I was getting the right answers. I received very good guidance and the information I got during the HUD counseling was very helpful. It's probably one of the smoothest financial transactions I've ever been through and it was handled a lot faster than I thought it would be even though it was done pretty much long distance. I've heard stories where it took six months, but mine was done in about eight weeks. I also heard stories that the closing costs were astronomical, but Liberty's weren't very much at all. Overall, I was really pleased with how it worked and I've already recommended Liberty to other people.
My financial advisor told me that I should look into reverse mortgages and he gave me three or four companies. One was with Nationwide and one was a Liberty representative. I called those numbers and asked for some information. Then I met with representatives from three to four different companies. My son is an economist for Federal Reserve so I asked him to help me understand what's the best way I should go. We eventually decided we want to go with Liberty because the program I went with was one where there wasn't any money down upfront. It's very good.
My financial advisor told me that a reverse mortgage is a good risk option. We have no intention of ever taking any loan. It's just an option that we would have sitting there over the next 10 or 15 years. So at the time we'd decide to sell our home with the housing market depressed, we have another way to go about selling our home. If it's more economical for us to take advantage of the loan available at that time, that's what we'd probably do.
The person I worked with was Larry. We met him a couple different times and he explained the program and how it worked. After a while, I decided that based on what I wanted to accomplish, this is the best program for me to take. The only information I got was what the representative shared with me. Then I did this phone interview with some organization. Between those two situations, that's how I reached a consensus. Then I got a book and I read it about reverse mortgages. That's how we did it. I shared it with my sister-in-law. She's buying a home in Colorado, and Larry gave us a representative in Colorado. And she's going to use the Liberty product to purchase her home in Colorado Springs.
I'm happy that I went with Liberty Home Equity Solutions. They seemed like the best option for me. Their guys all did their job very well and professionally and they're very understanding. They explained everything in detail so I understood what was going on.
Edward, Thank you for providing feedback about your experience working with Liberty! We appreciate the opportunity to improve our customer experience.
Original review: May 17, 2017
I have a wife who is either in a wheelchair or in a chair. And after a year's full time help has come in, my funds were almost non-existent. I had to have some money to keep her at home so I got a reverse mortgage. My son from Dallas said that Liberty was one of the better ones. I contacted the one that he said was number one but they were kind of pushy. I had a good relation with the lady who contacted me from Liberty so I went with them. At first, the experience was wonderful. I was very enthused about the lady who I was dealing with. When they told me that she no longer worked there, I was disappointed and almost quit at that time (which I probably should have). And later on, it was indifferent.
I saw a notary public lady who had all the papers and she said, "Oh, we got to do and sign these and we'll send them in." So we did that. However, I was not thrilled when I found out that Liberty was not going to be what they originally said they were. They had sold my loan to somebody else. I told them that but nonetheless, that's the way it is. I received a letter after the first disbursement saying that the interest that they would charge was going to go up. So, I expect that every month. I'll probably stay with them for a year or two and then I'll sell my house and we'd go into an assisted living somewhere. Everything has worked like it was originally supposed to work though. I'm paying a little more than the insurance company pays. So, I have to come out about $100 a week to make the payments and also to get a caregiver. I'm pretty well-satisfied but if I had to do it again, I probably wouldn't do it with Liberty.
My significant other, Earl, has a reverse mortgage that we refinanced through someone else, but we switched to Liberty Home because I know somebody who works there. The loan officers were awesome. I used to do reverse mortgages so I'm pretty knowledgeable about that myself. It's been a lot of years though and things have changed since I did them. But they were awesome. I called them, they got right back to me and they knew what they were talking about. There was never a second wait. Everybody is in the process and kept in touch with me. They were very good about getting the counseling done. I have a hard of hearing boyfriend and they worked with me so it made things very easy for us. I was very impressed with them. I never had a better experience in my life. They're the best mortgage company I've ever worked with and I've been bragging about the company already. I would recommend them highly.
Liberty Home Equity Solutions, Inc. Company Profile
- Company Name:
- Liberty Home Equity Solutions
- (844) 703-7191