Liberty Home Equity Solutions, Inc. provides reverse mortgages for homeowners age 62 and older as a retirement planning solution and access to achieve short-term financial goals.
Our reverse mortgage solutions are useful in:
- Supplementing retirement income
- Paying off an existing mortgage
- Covering for medical expenses
- And helping with any other major costs!
Contact us today for a free rate comparison!
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I've looked into reverse mortgage for years and I wanted to get some income I can fall back on. A friend of mine called me about Liberty and he knew that they are a good company. The application process was wonderful and the application and underwriting took about 5 weeks. The representative named Eric was wonderful. He got back with me with any questions and then he would check if everything was going okay. He was right on top of everything and I was very comfortable working with him. I will also definitely refer people to him if I have the pleasure to do so. We’re happy with the rate and the terms too. Overall, Liberty is a good company and I’m glad I chose them. They are very professional, they helped us out and we have money to fall back on now in case we need it.
Pamela, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
I thought that getting a reverse mortgage would have us more disposable cash so we could do what we’d like to do in our old age and Liberty seemed to have the answer that nobody else did. We spoke with three companies, and our loan officer at Liberty, Chris, was very positive about it. He kept in touch us with us all of the time and he nursed us along the whole thing. He was thorough and responsive. Anything that we asked, he was able to answer and we felt really comfortable with him. We did not want to go out of the area and we felt better dealing with someone locally, but it never worked out because we felt better with Chris all the way from Sacramento. We put the faith in Chris and it worked. Nobody else seemed to think that we could pull the equity out of this house.
Chris kept in touch with us quite often, but as the loan progressed and the step-by-step thing, one of the people got back to us at least every three days to catch us up and bring us up to date as to where they stood. Even if there was nothing to report, the person was still working. We were happy with the outcome even though it cost more money than we thought it would. Working with Liberty gave us less pressure and less stress as we age and face our future.
Russell, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
I got my first reverse mortgage with Liberty two and a half years ago because I wanted to eliminate the moneys going out from my limited income that I had coming in. I could have had my mortgage increased each month but the debt increase was less than the value of the home increases. So the reverse mortgage was a real good thing and in doing that, I could eliminate my monthly mortgage payment. In addition to that, I had about $20,000 worth of credit card debt at that time and I thought that the reverse mortgage would be a good way to eliminate that. So I got the reverse mortgage and my financial situation increased wonderfully.
But about a year ago, Congress passed some legislation reducing the interest rate of the insurance that the federal government requires on reverse mortgages. It went from 5.25% to 4.75%. It turned out to be 0.5% depending on the amount of money that you are insuring. It can be a very small amount of money or it can be a big, significant amount of money. In my case, it turned out to be about $150 a month and I could use an extra $1,800 a year. A second reverse mortgage would cost about $800 to do the paperwork and I would have to go through all kinds of rigamarole again the second time around. But I figured I could get that money back in a little less than six months. After that, it’s all pure gravy and that was why I did the second reverse mortgage.
The Liberty staff has been there when I needed them and they have been excellent. They’ve been attentive, helpful, knowledgeable and courteous. Any time I had a question, I could call them and they would give me a helpful answer. They also stayed in touch with me and kept me aware of everything that was going on at all stages of the proceedings. I couldn’t have asked for a more responsive, more helpful situation so I’m very happy with everything. The rate is very good too. I get more moneys from my investments than what I would pay out on my interest.
Joseph, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
We needed to pay our loan off on a car and put a new roof on the house. However, I was misinformed about what our property was as I thought it was a condo. I talked to AAG and I told them that. They looked in their list and said I was not approved. I then went to LendingTree and made the mistake of saying that we needed to put a new roof on the house and pay the car. So, I went to Liberty, kept my mouth shut and got the money. The process took a while though. I thought it would be two weeks and we'd be over with it, but it took all of 30 days. Still, the gal that I talked to first was real polite and answered all my questions.
Being a loan officer, I helped my father-in-law when he did a loan with Liberty Home Equity Solutions. The whole transaction was absolutely horrible. They entered his information wrong in the system. Everybody called me even though my father-in-law's number was completely different than mine. Then, we had a lot of issues with our communication with the loan officer and we got completely incorrect information from him for three months. At one point, he said that we were gonna be signing and closing by the end of January but by the next day, the processor called us and said that we needed a second appraisal as there was an issue with the first one and that the loan wouldn't be closing until the end of February. It also turned out that at one point the loan officer left the company.
The whole thing created a lot of stress for my father-in-law, being he's a senior and he's never had any type of real estate financing before. He said that he would have cancelled everything in December. He would come over to our house almost every week because he was so stressed out and confused about what was happening and why because each time Liberty sent new disclosures, the terms and rate were different, the lender credit would be removed and then it would be back. When we got loan docs, we weren't certain that we were gonna be getting what we were looking for, which was the 30-year fixed, the rate that he had been putting at 4.81, and a lender credit of $6,000. It just went back and forth so much. But the management jumped in at the end to help us get everything finalized. We're glad that it got done.
We started talking with the loan officer in October 2018 and we closed by February 2019. The rate my father-in-law received was a little higher than I thought it would be, but I figured that my father-in-law's low credit scores might have impacted the pricing somehow. The rate should've have been better based on what I see, but as long as it was under 5%, with the loan being a 30-year fixed, it was an okay deal.
Thank you for taking the time to tell us about your (and your father-in-law's) experience with Liberty. We take feedback seriously and regret that it was less than optimal. Someone from our customer service team will be contacting you directly.
We really wanted to do a reverse mortgage so we did our homework and decided that Liberty Home was the best for us. We called them on the phone when we were getting the mortgage. We had people come out to the house but the majority of the process was all handled over the telephone. We had a good interaction with our loan officer and everybody was pleasant. Furthermore, we were happy with the rate and terms of the reverse mortgage that was given to us. The process took us a month and a half and we were able to do it through working with Liberty.
We needed a reverse mortgage to pay bills and Liberty was the only one that was interested enough to do a mobile home. I worked with Elizabeth and her associate. She's very cooperative and I was very happy with her. Liberty Home made me a little bit more confident in people and I recommend them.
I'm really pleased with my experience with Liberty Home Equity Solutions. This came after the death of my spouse and it calmed my nerves a lot. It made me feel like I was really accomplishing something and getting my life in order. Initially, I checked other companies. I started with AIG, the number one company in the country, to see how they go. However, they were so pushy and wanted me to sign up immediately. I didn't wanna do that at all and I wanted to think it over. Liberty Home Equity Solutions let me do that and so I decided I'd get my mortgage through them.
The whole lending process took eight weeks. It went smoothly and it was a nice experience. I was tired when we got them and I didn't think I was going to be comfortable, but I was amazingly comfortable throughout the entire process. Everybody was nice and easy to talk to. They were on the line immediately and I was able to tell them anything that I thought of. Also, if I had any questions, all I had to do was call Eric and he would clear it up for me. If he didn't, he would assign somebody who would. I really enjoyed talking to him. He seemed like he was low-key and he explained everything really well to me. He didn't try to get me to do anything and I appreciated that.
During the application, it was easier to understand what the paperwork was about because I got a lot of paperwork. Then, when it came time to sign the final papers, it was fast. I was ready by then and I had planned to have a lawyer friend of mine to look them over but it went by fast enough that we didn't really have the opportunity to do that. But it was okay. By that time, I was well-versed on what I was doing. As for the rate and terms, I didn't have any misunderstandings that I might get more than I did. I understood what it was and that the amount will grow as time goes on if I don't take a lot off of it.
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I did an awful lot of research, called around for different places and got Tom Selleck's CD. Once I decided that getting a mortgage was what I wanted to do, I looked for a lender and I wanted something local. I found Liberty Home Equity Solutions and gave them a call. The person I spoke with was delightful. And the application process was a piece of cake. Including the underwriting, the whole process took three weeks.
However, we could have found a better fella to do the appraisal. I bought the house a year ago and I have put $20,000 into the house. The appraiser thought that it was worth the same thing I paid a year ago. It's not. I am not happy with the appraisal because I know the value of the house has increased. In fact, he discounted my house because it's on the street. My guess is that he likes little cul-de-sacs much better. In addition, the required counseling was a total waste of time. The guy who gave guidance was a jerk and I do not like having to pay somebody to be a jerk.
I did find it interesting, too, that within a week of closing, my loan was sold and it is being serviced by a company that I absolutely did not wanna do business with. They didn't give me a chance and now I have no choice. But, that's okay. They're doing business and I'm glad I was easy to sell. Also, the young lady who did my paperwork was awesome. She knew what she was doing and she didn't give me the runaround. I was very comfortable working with her. If I needed something, I'd call her and when she needed something, she'd give me a call and I'd give her what she wanted.
I had some heavy decisions to make and I had to be sure that I wasn’t gonna lose everything I worked for all my life. Also, I fell and broke my hip, and I’m 86 years old, so I had to do something. I had a house payment and Wells Fargo was throwing charges at me at every opportunity. I got my back up against the wall and I feel like I’ve made the right decision by starting to look into a reverse mortgage. I was happy up until I got some mail. I did not understand what I was looking at.
Liberty Home Equity Solutions gave my loan number and the amount of my loan was $157,000, which was $100,000 off. I don’t know where all that was coming from, and it got me upset. I will call Greg and talk to him about my concern and ask him for it. If they got my loan number, then they should have the amount correct. My daughter said that they're just phishing. The one that I got was for insurance or coverage where my house would be paid off if anything happened to me and my family wouldn’t lose everything. However, I can’t see them putting on $100,000 on to the balance.
Nonetheless, Liberty Home did great and I’m very happy. The way it is going right now, it is gonna be great because I’ve got things worked out in my mind where I may pay the house off in a year, which I’m allowed to do. I’ve got plans of how I’m gonna handle the whole situation and right now, going with them gave me a break until I can get another house sold and get my finances in order. They were good to deal with and I had no problem with Liberty at all. They answered all my questions during the application and underwriting process. If I had a question or anything troubling me, they helped me work it out. There were three people that I dealt with, but Greg was the main one. He was down-to-earth and he answered any questions that I had. He was not pushy and was to-the-point. He also had patience with me. He was a wonderful guy and a good company man.
I felt like I needed to free up some money along the way so I used a reverse mortgage and Liberty came through. I had two other companies that made offers and Liberty was the best of the group so I went with them. I was a little bit cloudy on the application process because of things that happened along the way. I got the house appraised once a year and came to find out it was worth a lot more than what I thought. So, that caused delays. They should say upfront that I needed to have an appraisal done on my place before I went into this. Other than that, the people I worked with all seemed to be knowledgeable about what we were talking about and they were very helpful. The application and underwriting process took about a month in total and the rate and terms were very good.
I chose a reverse mortgage for financial, cash flow. Liberty Home Equity Solutions seemed to have the best rate so I went with them. So far, everything has been okay. It was as advertised. The whole process took about three weeks longer than necessary only because I wasn’t available. But the total time was four weeks or so.
When I called Liberty Home Equity Solutions, I got a really nice salesman who answered all my questions. Their application process was pretty easy. Also, the loan officer was easy to get in touch with. We could call her any hour of the day and if she wasn’t available, she would get back to us. Plus, she was confident that we were gonna get the loan. In the end, we were approved but there was something wrong with the people we bought the house from. They kept coming up on the title even though they didn’t own the house anymore. I wish that had been handled a little more smoothly. Still, Liberty handled the situation well.
When I looked at reverse mortgages, Liberty Home Equity was the one that came up and the application moved quickly but it took several months for the entire process to take place. Their hands were tied on a lot of it and they had to go through certain hoops. They explained things and made you go through some counseling. It’s good that they make you think about what you’re doing. The rep I worked with was very good and I was impressed with her understanding and with getting back to me. She did an excellent job. I felt very comfortable working with the team at Liberty. They were honest and I felt secure. If I had a question, they would usually respond within the day. Sometimes it was the next day but otherwise, it was quite quickly. Working with Liberty had a positive effect on my life and I was very satisfied.
I wanted to get some of the money out and enjoy life. I talked to three reverse mortgage providers and I really liked Eric, the guy from Liberty that I talked to. The process of getting my mortgage seemed simple enough. But we had a little snafu and it wasn’t their fault though. The rules were changed while we were doing the process and we had to go through a second appraisal. But that was new and I was not prepared for our doing that. It took us four months for the process to be completed, but that was mainly due to me so it was fine. The rate was a little higher than I thought it would be, but it seemed to be well within the scheme of everybody. Other than that, everything else went smoothly.
We had some home repairs that we needed to do and we were not getting enough out of our IRAs to support our living style. We decided that we needed to have some extra income coming in and having a reverse mortgage would be a good way to bump up some more income. Obtaining a mortgage at Liberty went fast and smooth. While there was a lot of paperwork that exchanged hands, we didn't have any problems. The loan officers were very nice, helpful and reassuring. It helped that they were very good at explaining every step of the processes that we went along and getting the printed information to back that up.
I'm 83 and my kids thought that a reverse mortgage was a good thing for me to do. One of my sons looked into Liberty and thought that it was a good company to go through. I also talked with another company before I decided, and Chris from Liberty did a much better job of explaining things. My interactions with him were also always very nice. There was no problem and no pressure. I was also impressed with his personality. He answered my questions and everything I wanted to know. I read all the information and he gave me all the right answers. Although I didn't wanna do the reverse mortgage at first, after I had gotten to it, there was nothing to it. Everybody was very nice and the process was very simple and easy. There was no hassle at all. The process wasn't very long either. It took about five weeks and I got a fair deal. I would certainly recommend this company for anyone else.
I needed some cash flow and Liberty contacted me, and I worked with Mike. He answered every question I had and I felt comfortable with him. The application process took a couple of weeks and it was smooth. Plus the rates and terms that I received were fair.
I looked up Liberty online and called the number. The application process was okay but it was a very tough loan to do. I was in the banking business for a long time years ago, and I understand how it works although it has changed very much today versus when we loaned money years ago. Richard, the rep, was easy to get to and he always called me back when he said he would. He was sincere and he tried to help me get the loan processed. I also talked to two other ladies who were processing the paperwork and they were fine. If I had a question or a concern, someone would get back to me soon with an answer. The rate of the reverse mortgage that I received was okay but the appraisal was low. We could've gotten somebody else and done another one to see, but we went ahead and used that one. Eventually, I got my money and that's a good experience.
Liberty is the only outlet available in terms of credit history. I got a link to them online and I followed it through. I was trying to get the loan in order to repair my roof, but then I couldn't get the loan until the roof was repaired. So, their application process stunk. They eventually found a provider who was willing to lend me the money upfront to pay off the contractors and wait until closing to get his payment. I'd like to see Liberty have an ability to have some vendors on hand. If they had some more of those types of vendors lined up in advance, this type of thing would not have been a problem. We could've gone forward with it and it wouldn't have taken six months to get it done.
Working with a couple of different people turned out to be a problem as well. Liz, my primary contact, sold me on the loan and then, once it got down to the details, I got passed to Peggy. Liz was on the West Coast and I'm in Tucson, Arizona, so the time difference was not a problem but there was a time difference when I got switched over and traded over to Peggy who was in Florida. Consequently, everything had to be done before 2:30 in the afternoon local time which created some issues.
Peggy needed to be more resolute in making sure she was getting stuff done. When it came time to closing, she initially asked how much I wanted on an initial disbursement to be held back from closing and I told her $5,000. Then later, within a couple of hours, my wife said we gotta make it $7,000. So, I called Peggy back and talked to her, and she said she would take care of it. However, when the notary showed up to do the signing and the closing, it was only $5,000 on the paperwork. That turned into a real nightmare but it managed to get done within a requisite time frame. We signed the papers on Monday and we had the money by Friday. There was a three-day hold-back on the final closing.
The rate of the mortgage that I received was reasonable and for the most part, I was most impressed with the tenacity of the team that I worked with at Liberty. Every time I turned around, I was getting a call and there was another roadblock, yet somehow, we managed to work our way through all of those roadblocks. Everything seems to be going okay with my experience with Liberty.
I had a hard money loan and it was gonna be due next year. I went online and typed in "reverse mortgage" and Liberty Home Equity Solutions came up. I clicked on it, the bank called me back and we went from there. Brian, the guy I worked with, was easy to get along with. I got a good loan that's even better than the loan I was after. They did everything that they needed to.
I want to make changes around the house and I don't have a lot of extra income. I picked Liberty out of a list when a friend of mine went through the reverse mortgage with them. Their application process was clear and good, but there was a lot. It was repeated, and I learned more as I go. I was impressed that all the people I worked with were very thorough. I was definitely happy with the rates and terms I received.
I respected the name of Forbes, and Liberty was listed on their site. When I contacted Liberty, everything seemed in order and favorable to what I wanted to do. I filled in the details on an opening start and I was contacted. I liked the interaction and the information I got, so I proceeded. The rep I worked with, Elisabeth, was very friendly, knowledgeable and responsive and I really liked working with her. She handed the processing over to an assistant, and that to another assistant, so I was a bit at a loss as to who to contact next, but I solved the problem by emailing back to everybody.
The reverse mortgage was what I needed and the process of getting it was straightforward. There was one spell that seemed to take a little longer than I thought it should and I was waiting for something to happen. I would have preferred to be closely informed, but overall, I was very pleased with my interaction with them. Also, I was very comfortable working with them.
I liked the idea of a reverse mortgage and I happened to get a hold of a lady from Liberty. We got along, talked, and I went with them. Her name is Nelda and she was fantastic. It was after it got out of her hands and went to the person handling the whole thing after we’ve got everything together and all that, that got me a little upset. The seller of this house was ready to back out because the application and underwriting process was taking so long. In fact, they did an addendum to our contract that if I wasn’t done by a certain date, that I would have to start paying rent for a house that I wasn’t even in. It was nerve-racking at the end of it, and that the person who was living in the house had already gone to Colorado. And so, it was a mess that way.
The people at Liberty told me that they haven’t received everything back from The Title Company and they just kept asking for things that they already have as far as I was concerned. Liberty should have kept me more informed. I paid a lot of penalties but it came through. I was satisfied with the rates and terms of reverse mortgage I received. The rep helped me get everything squared away and get things together. If I called and she was not available, she would get back to me in a short period of time if I left a message. When I went through a reverse mortgage after I had counseling, I told her what my interest rate was and she thought that that was fine.
There was a lot of equity in the house, and I had some debt. I had a first mortgage and I wanted to take care of it, put it all into one basket, and join the whole equity. I checked online and I called a few of the providers and discussed with them what was available and what was required. I called Liberty Home Equity Solutions and I spoke to Liz. She was great. Liberty better do whatever they can to hold on to that girl. She answers all your questions and if she doesn’t have the answer, she promises to get back, and she does, often within the same day. There were some issues that came up that she helped me work through and gave me advice on how to resolve it. I followed her instructions and it all came together.
Her support group was excellent. I had to make the call and book an appointment with the government’s portion of the consumer protection and they were great. Liz sent me a packet to study and look over and anticipate what the possible questions might be. I went over it, although I already had the answers because she already helped me work through that, and it was successful. Everything went really good.
I wanted to try to close the loan before the first of the year and we did on the 29th of December but only because of everybody’s efforts in telling me what I needed to do to finalize it because things kept popping up. I understand that because they were protecting me. Everything they asked for was in my benefit or my protection. It makes me feel good that there are laws and people willing to help me work through them and explain exactly what I am doing or what I am getting into. I didn’t feel uncomfortable at all with the entire process. I rate Liberty top-notch and the majority of it has to do with their people.
The application process took about three months. The Liberty personnel is doing everything they can and the government is the driving force. And because it is senior protection, there is a lot of senior citizen laws that have to be observed. There are companies out there that are abusing seniors and I know of it because I’ve read about it. Liberty does everything they can to make sure that’s not being done. Never was I misled or not given an answer to a question. The rate and terms that I received were competitive. Lucky for me, the rates dropped a little and it has continued to drop with what is going on with the government.
Liberty Home shared my information and so I'm getting mail from everybody suggesting that I have a loan of $460,000 and they wanna help me. I've got three letters from different companies. One had either offered me insurance or offered me a reduced interest rate. First of all, I don't have a loan of $460,000 and I don't plan to have one. I saved the letters and I called the salesman that did this job for me who had been very nice to me. He has never called me back. But it's apparent to me that Liberty Home, intentionally or not, shared the fact that I got this reverse mortgage. That's unfair and it's poor business. Other than that, I'm happy with how the salesman handled my reverse mortgage. Everything happened according to the way it's supposed to happen, and I'm very pleased with that. They were very professional.
I had called Liberty Home Equity Solutions a couple of years ago when I was thinking about a reverse mortgage and I worked with Greg. When I went back last year, Greg was really good to work with. The other companies were basically the same kind of deal and I felt better with Greg. My wife was with me too and Liberty's application process was long and tedious, but we got through with it. Greg explained everything really well and didn't hide any facts. We went over various things that he was very familiar with and knowledgeable about. He always wanted to help and work with me. The rate and terms of the reverse mortgage were good and he helped me on the origination fee.
The staff from Liberty were professional every step of the way. But I had a problem with the parent company. I had gone through a little thing with Liberty before. They were not an honest corporation. The people who work for them were predators and they control. I went with reverse mortgage as it was a part of my retirement plan. I own my home so I didn't have any mortgages owned. It's an easier way to get a loan and to pay it back. We have that option to pay it back. The representative was a lot more informative about this home equity. He went the extra mile. The application process was time-consuming and cumbersome though. The timeframe should be cut down a little bit and the rate could be a little bit lower too.
I got to a stage wherein if I program my little finances directly, I would come up short. My house was deteriorating and there were some repairs that I needed to make but I didn’t have the money to do it with. I needed some assistance so I searched around and when I spoke to the representative at Liberty Home Equity Solutions, she assisted me to get me on the program. If I had to do that, it would have cost me, but I was able to get to them and didn’t have to pay.
Christine helped me and she was quite helpful. She contacted me to make sure that progress was being made. There were also all these young ladies that she was in contact with. She gave me a person that I had to go and they reached out to me and helped me with the process and the procedures. The whole process went fine. If I was a younger person with different circumstances, it would have probably gone much smoother. But everybody that I ran into was quite helpful and patient with me since I was quite ignorant to what I had to do.
The application and underwriting process took a couple of months. But Liberty insisted on me making some repairs and doing some things before I could get the loan. The things that they insisted on were the things that I was trying to get the loan for. There was a lot of stuff that I had to pay out of pocket. That cost me and made me have a little setback. I didn’t understand that portion of it. I didn’t get the amount that I initially wanted, but I’m doing quite well. I have to be frugal and take my time doing the things that I wanted to do. Still, I get a little interest on the little money that I get in escrow and I accumulate a little bit there. Overall, I recommend Liberty Home.
Liberty Home couldn't have been better. When I got ready to do a reverse mortgage, I went on the internet and found a place that showed a certain amount of reverse mortgage companies. I started calling. The first one put me on hold. The second one was Liberty and I dealt with a guy named Eric, who was super fantastic. It was weird because when Eric first started talking to me, he said the whole process was gonna take six to eight weeks. I told him I'm not in a hurry and it's not a big deal and three weeks later we were done. They gave absolutely fantastic service.
The first thing he did was send me a bunch of paperwork. I read the paperwork and then he had the HUD people call me and I did the HUD thing over the phone. And then he had a guy come in to do the paperwork and all the signature. There is so much redundancy in what I went through. I understand, mostly, that's HUD requirement. I'm a very patient guy, so it didn't particularly bother me but that was my only beef. But from what I had researched Liberty was right in line. I understand how it works and it worked out good for me.
Obtaining our reverse mortgage from Liberty Home went really well. This is the second time we did a reverse mortgage so we knew all the ins and outs. Even so, our rep Eric was very thorough. I loved talking to him as he was very personal. He was also very upfront and straightforward. He sent me all the information and different products to compare. He then gave me a good comparison of the different plans. Though applying was pretty easy, the hardest part was that we had a freeze on our credit. Nevertheless, we have excellent credit and the process went fine. Thereafter, Eric was very clear and concise in his follow up and he was on top of our application all the time.
However, one thing that unnerved me was that they made us do another appraisal. I still feel that the second company that did the appraisal came in just too far under. There was about $7,000 difference. Based on having done buying and selling as well as reverse mortgage before, they came in just way low. So that also held up the time. Furthermore, I didn't like that the appraiser who wrote the appraisal, she doesn't come out. Instead, she sent an intern.
Though the interest rate I got this time was higher than before, everything was pretty comparable. I really appreciated having enough programs to choose from. The closing cost was a huge factor for me and Liberty Home had a variety of ways depending on how I wanted to play things. They had the best terms and that made me choose them at the end of the day.
I was under the gun. My house was in a foreclosure because of a miscommunication, and it was my fault. I had six months and I thought something was taken care of. I threw the letter away and I never heard anything else about it. Then I got a courtesy call letting me know my house was gonna foreclose in 20 days. I owed $12,000 and was getting my house foreclosed for $386. It was heavy. I felt a little pushed by Liberty Home but I was in a position where I needed to get this done. So the experience in general was okay. They wanna get the job done and that’s how they get paid. I talked to a loan officer in the beginning and he turned me over to his team that helped me through the process. My daughter stepped in and took care of that when she kicked in $3,000 to take care of that $386 foreclosure. So then, I was okay. I did drag my feet a little bit, but they were patient with me. I'm glad I did it.
The underwriting process where they came over to the house and I had to sign all those papers was timely and good. The lady was very nice and as we went through the little chapters, she told me, “Okay. This is this and this is for this,” and then I'd signed it without reading every single word because I had a little stroke and I wouldn’t even remember any of it. That was a big stack of papers and she helped me. Just before this whole process finished, the value of my house doubled. I paid $133,000 for this house and now, it's worth $264,000, and I've only been in here for three years. It was awesome. Liberty Home is a Johnny-on-the-spot.” The girls were all very knowledgeable and polite.
I was in a need to settle a will with my brother, following my mother's death. I had two lenders that I was dealing with, and I chose Liberty because I actually had someone come to my house and sit down with me and talk to me and not try to do everything over the phone. He would come here from Omaha to Des Moines. That's about a two-hour drive. He would pick up from me what I needed to give, and bring me what I needed to know, check with me on the phone, and make sure that everything was going okay.
It took a while only because the house was in probate. But the process itself, once the house was out of probate, took less than 10 days. It helped me get a resolution with my brother over my mother's will. My brother got the money. So, that's how we had to resolve so I can stay in the house and keep the house. It's kinda complicated, but it all worked out.
However, I've noticed that they sold my mortgage to some other outfit and I didn't know that was gonna be part of the deal. It doesn't matter as long as that's the way things are supposed to go. But that kind of sets me back when I started having to deal with somebody else. I don't know why they did that. Nevertheless, I would recommend them.
Liberty Home Equity Solutions expert review by Michele Lerner
Formerly known as Genworth Financial Home Equity Access, Inc., Liberty Home Equity Solutions, Inc. has been helping senior citizens gain financial independence and security through Home Equity Conversion Mortgages (HECMs) for almost a decade. They are a direct lender and are licensed in all 50 states. Liberty currently does not offer consumer-direct retail lending in Utah, but they do in every other state.
No up-front lender fees: Liberty does not charge any up-front lender fees. Any processing and loan fees are financed into the mortgage itself instead.
Homeowner resources: Liberty’s website has many resources for homeowners to review to help them decide if a reverse mortgage is right for them. Resources include: HUD counseling, reverse mortgage pros and cons and a checklist of eligibility and requirements for applicants.
Free 2-step calculator: Use Liberty’s free 2-step calculator on their website and within 30 seconds receive a free rate comparison, an available cash estimate and a downloadable handbook delivered to your email.
Iron Clad Guarantee: Liberty’s Iron Clad Guarantee promises to deliver fair and competitive pricing, loan closing within 60 days of the date they receive your loan application and HUD Counseling Certificate, live customer service between 9 am and 5 pm PST, an online loan application, protection of your personal information and the promise that you can always change your mind or stop the process any time before your loan is funded.
Pricing promise and closing commitment: Liberty guarantees they will match or beat a competitor’s pricing, and they will give you a $100 VISA gift card if they are unable to do so. They are also committed to closing quickly and efficiently and will give you a $500 credit toward your closing costs if they fail to close your loan within 60 days.
Best for: Seniors who want a fast reverse mortgage process.
Liberty Home Equity Solutions, Inc. Company Information
- Company Name:
- Liberty Home Equity Solutions