Steve from Liberty contacted me and was persistent in staying touch with me. Reverse mortgage was the only one left open to me and in the end, he came up with a better deal. He was there the whole time. He answered all my questions and was also there at the closing. Any fears that I had, he would double-check and come back with an answer. He made sure that I didn’t have any questions or issues. But I'd say my experience with Liberty itself was a little negative because they came back the day of the closing and the closing costs were higher than I had been quoted. They explained why and I understood, but I didn’t appreciate being topped on at the last minute. But it was a good experience overall.
Hello Basil, 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: May 14, 2017
I applied for a reverse mortgage with Janice ** at ** and I gave her 4 proposals- RMF, synergyonelending, reversemortgages.com and Live Well Financial and she could not match not 1 of them. Their website-libertyreversemortgage.com states "the Liberty iron clad guarantee-pricing promise" that if they fail to beat or match any offering that they will give you a $100.00 visa gift card. Janice never said to me that she would be sending this. This is false marketing and advertising and is in the grey area of being illegal and fraudulent. Steer clear of this company. I warn you.
I had some debt and I wasn't able to get other products other than reverse mortgage. My daughter went online for me looking for debt solutions. She looked up a few and thought that Liberty Home Equity Solutions was fine. They were just about the best thing I have ever worked with. They were right in line with everything and answered all questions. They gave me more than what I needed as far as information went and they were all very patient. They told me anything I didn't ask for and became more aware of. In my situation, they really had everything that I could look for in anybody that I would go to in the time of help, and they were there for me. I really like them a lot and would refer them to others.
Liberty Home Equity Solutions tried to make the experience well for me as much as they could and I've received nice guidance from them. But I owed my ex-wife some money out of it and she and her lawyer were bugging me. I was trying to hurry but I wasn’t hurrying fast enough so I had to pay a penalty. It was a little bit slow with Liberty. They kept adding stuff to it every time I thought it was over with. But finally, I got it over with.
Reverse mortgage best fits our needs and our experience with Liberty was very good. It has helped us with our bills. Also, our loan officer was fine. We didn't have any problems with them and I would recommend them.
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We're in our 70s and reverse mortgage is the best way to get out of a mortgage payment. The guy who was helping us with our reverse mortgage put me through to Liberty Home Equity Solutions. The process went very smoothly. Their loan officer was helpful and was able to answer my questions. However, since that time, we have been getting mails about every other day from Liberty wanting me to borrow $201,000 and I'd like to see that stop.
I liked the way the Liberty representative who came to our house did business. I also liked the information that we were given and the monetary amounts that came out better for us. And so I chose to get a reverse mortgage through them. Liberty's loan officer, Marty, was extremely knowledgeable. He answered all our questions and was on call. We could call, text or email him and he answered us very quickly. Moreover, he got us a better deal.
Liberty's reverse mortgage did what it needed to do. It eliminated my mortgage and gave me the equity in an account. Also, the person in the office who called us kept us abreast of everything that was happening. She also gave us her number in case we had any questions. I couldn't ask for more. Liberty Home Equity was a pleasure to deal with.
We are retired and facing dwindling income... so the advantages of a reverse mortgage were very appealing... allowing us to remain in our home, with less financial stress. Our experience with the Liberty Home Equity Solutions team has been very positive. Most importantly our loan counselor (for the Pennsylvania area) explained everything slowly and in detail. He was always available and kept us updated during the entire process. He never let more than 2 days go by, without calling us to keep us updated on the status and reassure us that things were progressing. Within three months we had our home equity loan, with a closing arranged right in our house! We are totally satisfied with our entire experience with Liberty Home Equity and would highly recommend them!
Linda from Liberty Equity was wonderful. When I looked for reverse mortgage names and picked Liberty out of there, she then called me back the next day and we got started. She got everything done when needed and kept in touch with me through the process. During our one-on-one, I wasn’t just another person looking for a loan. She was very personable and professional. The guidance that she gave me was great.
I was a little bit nervous about it at first. I didn’t know exactly what it entailed, and how much money I might be losing or gaining. But she reassured me and showed me how it worked, and how my equity worked, and what my interest would be. Everything was all in black and white, and upfront. Linda was excited for me as I was. She fought for me to get the loan and what I needed in my life at this point. She was very understanding about my situation. It wasn’t just a company getting a loan for me. But it was somebody taking care of my life right now that I needed.
When you’re older, it's a big step to borrow any kind of money. We had to become totally unencumbered. I had gone to a financial program at church. So we figured once we got squared away, I would approach Social Security and ask them to no longer take that because I don’t believe that we are going to have a tax burden once we’re totally just on Social Security, which will be 2016 taxes. When Paul retired last May, he paid off the mortgage when he got his profit sharing and 401K. Reverse Mortgage was the option for us because there was no payment involved. We didn’t want to remortgage and have a payment because now we’re both living on just Social Security.
We approached three different companies for a reverse mortgage. One, we never heard anything from. Liberty got right back to us. And the other one was two weeks late. They were as eager as we were. We explained to our kids that whatever we own will be split seven ways. However, we have to live while we’re still here and they all understand that. It wasn’t about travel, it wasn’t about buying something extravagant. Neither one of us are like that. So it really was more for a security buffer. Just to know that if anything happened, medically or whatever, we’d be able to back it up. One of the things that impressed me when we went to the HUD counselor and what Liberty had told us is like they’re both reading out the same script. In this day and age, you don’t catch that very often. A little bit of verbatim, they’d be different but they were all like reading out the same script. That means you have to believe.
Richard, our loan officer, was very attentive. He was on the phone quite often. He would call just to see how everything was going and did we have any questions. A couple of times I had questions and I called Richard. He gave me his direct line and he was right there. The guidance we received has been wonderful. They were right on the money because then when we went and met with the HUD counselor, everything that they told us, she backed it up. He didn’t mislead us at all. He told us exactly what it was all about. Then she told us the same thing.
We dealt with Richard until it came down to the final part of it when they were writing up the mortgage papers and going for the closing. There was a committee at Liberty that handles that. We were very pleased with Liberty, Richard and with all of the people we've dealt with. I would recommend them to anybody and we have. But it’s still that day and age where people are in a panic over reverse mortgages. We wanted people to get into it and have a mortgage that has to be paid off in the process and they don’t end up with what they thought they were going to get. Because out of that what they would have gotten, their mortgage had to be satisfied.
I went online looking at and comparing different companies that were offering reverse mortgages. I read a bad review wherein somebody that had used one of the big companies, after wasting 90 days trying to get their loan done, pulled their loan app, went to Liberty and had it done in 30 days. That's what prompted me to call. Also, a friend of mine ended up doing a reverse mortgage. She used a broker but the loan ended up with Liberty. I had been thinking about doing a reverse mortgage for several years and was just apprehensive. But once I talked to Cindy, the loan officer, I was comfortable and ready to do it. She answered every question I had and she did right on cue anything she said she was gonna do. It was an extremely positive experience with Liberty.
This was the second time that we worked with Liberty Home Equity Solutions and we didn't have any problems. We were revising a reverse mortgage and that was best suited to what we needed. My loan officer did a good job and I talked with him so much on the phone. He also had other people that backed him up when he wasn't there or when there was a question that he didn't have the answer for, so I felt comfortable. When we got finished, we could trust Liberty and we're happy that we did it.
We're both retired and we wanted to save the monthly outflow so we chose a reverse mortgage with Liberty Home Equity Solutions, Inc. We dealt with Eric and Peggy. Both of them were excellent. My wife talked mostly with Peggy while I talked mostly with Eric. They answered every question we had, which was limited because information was covered good from the get go. They were also very personable. Eric even called a couple of days ago again to see how things were going. It's sad that more people don't know about the reverse mortgage for purchase. It's a slick program and everybody we've talked to about it and explained said, "Whoa! That sounds too good to be true." I said, "Well, we got it. So, it is true." It has been wonderful.
The people at Liberty Home have been very cordial and helpful. I liked their rep who came to the house. He was very good. On the other hand, I thought that maybe Liberty would disperse the money a little faster than five days, but it takes about seven days. Once I get used to that, I'll be okay.
If we won the lottery, we'd be able to pull our mortgage back in a year if we wanted to. But Liberty Home Equity Solutions gave us options and that's why we did it. We checked with some reverse mortgage providers and one of our problems was my husband is blind and deaf so we needed to have somebody come to the house to talk to him face to face. The guy from Omaha was the one who came, sat at our kitchen table, and discussed things with us twice. He came a couple of times so it benefited my husband. My husband did not want to leave where we live and did not want to do it. We live in a small lake and we've been there for 40 years, and he's 80 so he wanted to stay. I was ready to sell up and move up north but he wouldn't because we have a lake up there, too. But after having a couple of conversations with Liberty, he said, "It looks like we can get out of it if we wanted to."
The only objection I had to it was the guy who appraised our property did not give us what it should have been and therefore we ended up with less money. He didn't give us the 60%. I'm realtor so I knew the value of the property. I paid $400 for the appraisal so I did not want to pay that again because I did have that option. I have talked to somebody else, went through things, and saw if it was different. It was less than $10,000 so I decided not to do it.
At the same time that we were doing our mortgage with Liberty, we had a neighbor whose house was smaller than mine and sold it for $295,000. We have the biggest lot on the lake and it was appraised at $300,000. That's why I was dragging my feet. I've talked to the gal that bought the house and she said, "I could have paid them less but I knew there were people out there waiting to buy it so I just went ahead with it." Mine appraised for $224,000 but it's bigger and it has the biggest lot on the lake. I had a friend who also went with Liberty and she declined for the same reason. She did not think they gave the property the correct value.
I liked talking to Judy, the loan officer that I started out with at Liberty Home Equity Solutions. She was a pretty good talker and was friendly. Liberty also provided me good guidance and I had a commendable experience with them. They were very helpful and informative so I didn't have any problems. However, the problem was with Ocwen. I got a letter from them saying that the loan services were changed, but the loan number is not even the same so I didn't understand that. I then tried to get a hold of somebody at Ocwen Loan Services.
There's too much bureaucracy and it's a little awkward. I can't do stuff because I have to call so and so, they don't handle this, this is what this is, or that my loan number should be in my welcome package. But I never received a welcome package from them so they're going to send me one now. I assumed that everything was cozy. But when somebody called up, there was usually a problem. For instance, I have a line of credit set up and I wanted to change that line. To make a change to the situation I now have to send a letter because talking to so many on the phone is not good enough and email is not good enough. It's too much required from the consumer. I wrote them a letter today and I registered. Additionally, they have people on the phone that they don't give permission to make a decision.
I talked to Judy and she was always very helpful and understanding. I told her that and I told everybody I've talked to. I'm an engineer and I don't want correct the symptoms but I want to correct the cause. If it's stopped with the people that I talked to, then it's not going anywhere. But if they pass it on, maybe some changes will happen.
My loan officer at Liberty was fine. The process was not the easiest thing in the world to understand but he did a fine job trying to explain it all to me. He was there when I needed questions answered. It wasn't a bad experience but it was an experience that I would have preferred not to have done. I had some issues with the hospital bills with my sons and I needed to take care of them. Those were surprise stuffs and going with Liberty was the best way to go about it. There was more paperwork in a reverse mortgage than there was on a mortgage. The procedure also took a whole lot longer than I thought because my situation was a little messed up to begin with. But, we got through it and gave a shot with whatever the situation was.
The insurance confusion was partially my problem because I was looking for a better rate. I had two companies and it turned out that the one that I selected then doubled the rate. It was $2,600 instead of the $1,300 that I was quoted. Esurance is going to check that for a discount from $1,300 to $1,000 a year. They dropped their rate from $1,300 to compete with the other companies. I'm going to hook up with Liberty today and hopefully get the final paperwork on it to settle as who will handle my home mortgage insurance. I'm waiting to finalize that it works as far as my escrow situation is concerned.
My experience with Liberty Home Equity Solutions was really great. My daughter-in-law and her mother and Gary, her husband, had gone with Liberty and Daniel went down there. He was the one that came out and talked to me when I was thinking about doing it. I had my son and my daughter with me so that they could ask questions if I forgot to ask something. He was patient and was here two hours with us.
Then, they came to close it out. Everything went smooth and didn't take long which was what I liked. They were a little over the time that they said they would close out, but it wasn't probably about a week so it wasn't bad. Everything went smooth. It's in the bank and I'm having work done. I'm using the money to upgrade the house and left some in there if an emergency comes up. I've spent some of it because I'm having new glass sliding doors and a storm door put in. I've already got my hardwood flooring for my kitchen, living room, and dining room. I'm waiting for them to get the sliding doors in, so the guy can come put down my flooring. Also, I've got the payment for the inside and outside setup, so I got that going.
So far, I'm doing good. Daniel called to see how we were doing and I said that we're doing fine. So, he checked up on us after we had signed, closed out, and it was really nice. Liberty did everything that they should do. I would recommend them. In fact, I've recommended them to a couple of people and gave them Daniel's card. I was really impressed with him.
Liberty is the best place I've ever seen in my life. They are wonderful, and that's because of Christine. She's the best in the way she interacted with us and being very patient. We did a reverse mortgage and at the end, they told us we couldn't do it because of my husband. Christine said that it was too early for me then. By the time I was starting to make 62, we called each other and that's how we all got started. She made me understand everything. She's still going through things with me and helping me out a little bit with a lot of things. I'm glad that we did our reverse mortgage through Liberty because we always have money put up. It's beautiful.
I'm 82 years old and I have a lot of equity in my home. I'm not sure if my heirs are interested that much in my home so I figured I would go into a reverse mortgage. I plan to stay in the house. Then, I have a second home. Liberty Home Equity Solutions is a little behind times in terms of using technology. They needed to get into the 21st century. They asked all kinds of stupid requests to justify my loan, which I assume was a government requirement. It was pretty annoying. But, it got done. My loan officer named Anthony was very good and informative. He answered all my questions and attended to my needs. Also, the guidance I received from Liberty was good and educational.
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.
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.
Liberty Home Equity Solutions, Inc. Company Profile