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!
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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.
Mike was my loan officer with Liberty and he was really helpful. He was very good to work with. In fact, everybody was. I didn't have any trouble with anybody. There was an awful lot of paperwork but that was okay. Anytime you deal with the government, there would be a lot of paperwork. Besides, it was easy to do. The terms were excellent too.
I contacted two lending providers that were online and I dealt with one of them for a while. I liked the rates at Liberty. However, I didn't care for the persons handling the reverse mortgage at the other companies as well as I did with Eric who was from Liberty. Eric was very thorough, cordial and understanding. Though I would call him rarely, he was always there when I did. If he didn't answer the phone right then, he got right back to me. I liked that about him. The application process with Liberty took two months total and it was a little time consuming. Still, it went smoothly.
We kept thinking we were paying a lot of interest and were not getting anywhere with them. Also, our house is 46 years old and we haven’t done any real upgrades. We wanted to get new kitchen counters. So, when we looked at a reverse mortgage, we decided that would be better than trying to borrow the money and then have more interest. I called Liberty Home Equity Solutions and notified too online, just as a questionnaire, and Ron called back within a couple of hours. He was very informative and he explained the whole process to us because we were not sure about doing the reverse mortgage. We thought we should just take out a home equity loan, and then he explained it so well and we decided we were going with a reverse mortgage.
The application process was simple. We did the first one over the phone and the rep walked us through it step-by-step. Also, I was very comfortable working with all of them in the office. Ron kept in contact with us all the time. And then as it went through the process, a couple of women in the office called and said, “Okay. Now, we need this paperwork,” or send whatever. They sent us a overnight thing and we got whatever they needed and we sent it right back. It took two months at the most, which was quick. It was very efficient and it worked out really great. The rates and terms are much better than a home equity loan where you’re paying back lots. Liberty has made our life much simpler and gave us peace of mind. We paid off a motor home loan and a couple of big bills. If anybody was interested in a reverse mortgage or anybody asks, I would send them Liberty’s way.
Working with Dan, the broker from Liberty Home went fine. He did a great job and we didn't run into any glitches which is unlike a lot of lending processes. We did most of the communication through email and Dan responded very well.
I have nobody else in my family to leave my house to so my brothers and sister told me to get a home equity loan and enjoy it. I found Liberty on the computer and I saw AAG too but Liberty was the first one that answered. The application didn't take long but the whole series took a long time. They had an appraiser come here but I never got to see their appraisal. I asked exactly five times, called and complained about it, and finally got the appraiser to send it to me. And there was stuff on there that I don't agree with, that I bought a deck at my house, yet nobody has talked to me about it and I was hoping somebody would.
I got a bit disgusted with Liberty. I started out with Joanne, an excellent gal but then I got switched over to some other people and things fell apart. I ended up working with Katie who didn’t answer my questions and it seemed like she didn't really know that much either. The appraisal on the house was sent back for some questions and I've been waiting for an answer for three weeks now. The reverse mortgage has all been settled though. I got my money right off the bat once they approved everything. Liberty's rate is good and the terms are excellent.
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My wife's not working. But she's working towards getting back into work. She was a nurse in Pennsylvania and now we're in Florida. She's been out in nursing for nine years, so there's a whole process that she has to go through just to get back to work. In the meantime, I'm disabled and I can't work, so I only have so much income. It's not enough to pay all the bills and live in this house. I was in IT and I was making $4,000 to $5,000 a month. I was doing very well and then, my spine just went and it's been going downhill ever since. One operation after the other. It's not like I can go out and get a job so I'm stuck in my situation. But my wife is a little bit of help here.
I own my home already and all of my assets are in my home. I contacted another lender but they didn't contact me back. I then looked online and I saw Liberty. It was like they were first and Liberty was second, but as soon as I called somebody in Liberty, I got help and that help stayed with me all the way through. The application process was a long process. It's a lot of paper signing, but all in all, no big deal. I was told it might take as many as three months and I said it was fine. My need would be probably after three months. If I had any question, the loan officer Carol just said to call her and I could call them. If she wasn't there at that time, I got a call back that day. Then someone else took over. Carol said, "She will handle you from now on." I have her card in the material and she's the same way. I know I can call her and then she'll get me in contact with the right people.
However, there was a separate letter from the company that handles the line of credit. And it said, "In this portfolio, you have a request form for asking for money which you can fax or mail." It depends on the urgency. I went through the papers and didn't find anything. I'm not in the position right now where I have to request that money, but I'd like to have that form if I do. We got ahead with the hurricane Irma and our roof leaks. It's not like my house is dripping with water and filling with mold, but the roof was pretty much messed up and the insurance should replace it. I want a new roof on this house as it would increase the value of the property immensely. Also, should we need to sell, I end up with more equity. It's a stone roof and to replace it on your own, you're looking at $45,000. But the insurance will pay close to the $40,000 of it.
We're in the process of that, which is taking forever. But the deductible on that is $6,440 and I get $1,500 to spend a month. And if that comes at the same time that I have to pay my taxes, which is close to $4,000, having the line of credit would be good. I got this reverse mortgage to avoid a dire situation like foreclosure, for instance. If you have assets and you can tap into that asset, why not do it? The first thing when you do one of these things is, you're financing the settlement cost and there's another $20,000 in that. I'm just digging and digging. But you never know, like if equity goes up and all these things could be minutia. Liberty was topnotch and Carol handled through the beginning and I don't think you can find a finer person than her.
There were some repairs that we wanted to do in the house and some extra things that we wanted to do. We started checking into a reverse mortgage, looking at all of our options, then we finally ended up full circle with Liberty. With them, there was no pressure. But I got with one of the major corporations that do reverse mortgages and when I didn't want to move ahead, they got a little bit ugly with me and I did not appreciate that one bit. In a way, that kind of funneled and channeled me to the right ones.
The first person that worked with us and set everything up for us before our application went on to the main processor made sure that we understood everything that we were doing. Her name was Mary and she dealt with the follow up every few days by texting, making sure that everything was going well even after she passed us along. She made sure that the company was staying right with us and getting everything accomplished. Mary was very personable and we met halfway when we were turning in all of our paperwork. She sat down with us and walked through everything. She even went back when there were things that we needed to add to it that we didn't include.
Liberty had a very good process. In fact, it was very detailed and straightforward. And when we had questions, there was no big lapse in time. They get back to us at least by the next day, so there was no issue with communication. Also, the rate we received was very good. Even down to getting the appraiser out, they took care of setting that up. And when he came out, he was very nice and cordial. We gave him a full run to do what he needed to do. In the end, we're very glad that we chose Liberty because they did a tremendous process with us. We're also very pleased with everyone that we worked with through the process, even down to the closing. I would recommend them highly.
My husband decided to get a reverse mortgage. He checked out Liberty and it sounded really good so he contacted them. They called back and he gave them my phone number so they called me back. The rep was very good. He asked questions and I answered to the best of my ability. I also asked questions and he answered every one of them. He did not sound like he had to look it up. That bothered me until I found out what my husband did. I thought it might have been a scam so I was very careful. I paid attention to how long it took him to answer after I asked the questions and everything sounded really good.
The whole thing took 30 days from the first time I talked to Michael until it was all done and I talked to the last gal. Once or twice, they had to do some checking for me because they’ve never come up against something or they wanted to make sure because a couple of the qualifications had just changed. One major change made me stop and listen really closely and asked more questions. The rates were very good and I also received very good guidance. We had a very good experience with Liberty all the way around. Everyone was very polite, informative, and answered all of our questions.
I was looking for somebody that did a reverse mortgage for purchase and did a Google search and Liberty came up. The application process was fine and I worked with Stephen at Liberty and he took care of business. Whatever needed to be done, he got it done and didn’t waste a lot of time. I gave him a bit of information. He took the information and put it into the application. So, it was easy. It took a month from application to close. The mortgage insurance is high and we were all bound by whatever the rates were at the time.
I had an issue with the underwriter because I’m a Realtor and the mortgage is an FHA program. He told me I couldn’t earn a commission, but I wasn’t using the commission to purchase the home. He never could get that straight. I even called FHA, and they suggested I have him call them, which I did not do because underwriters can be really difficult. Also, I didn’t want him to throw a wrench in the work because I was questioning his decision. So, I just let it go. Although that slowed down the process, we were still able to close on time and my company mailed me my check after. We just had to redo documents and everything.
My in-laws were in pretty desperate need to do something and I helped them apply for a reverse mortgage. I got a couple of quotes from different providers and Liberty seemed to have the best one. The process took 25 days and everything went smooth. Also, the rep was excellent to work with. He was very helpful to us and he answered all our questions.
When I worked with Liberty, I had some issues with the title on my end but the process was good overall. It was fast too. I worked with Richard and Katie, and I was impressed with their follow-up and willingness to work with me on it. The rate and terms were also good and comparable to others.
I’ve seen Liberty Home Equity on Ocwen and they sent me a letter, a deal. When I called them, they took care of me. The application process was also good. It took a little bit of time, but that’s the way it goes, trying to get everything going. The whole process took two months and a half.
I did a reverse mortgage as it seemed like an uncomplicated way to provide income. I liked the personality of the rep of Liberty Home that I talked to and connected with, so I went with them. The loan officer that I worked with was Mike. He is a nice person and he really cared about doing a good job for me. I was comfortable working with him and the team at Liberty. The lending process took exactly as long as they said it would and there were no surprises.
Liberty was the best to go for a reverse mortgage. They did great. They made it easier to be able to understand all the ins and outs of a reverse mortgage. The reverse mortgage has helped us to be a little bit freed up.
Great feedback, James! We genuinely appreciate it and we’re glad to hear that you’re happy with your experience working with Liberty.
We’re already retired and just trying to make ends meet. We thought if we could get rid of the monthly mortgage, it would certainly make things a lot easier so that was basically the consideration to get a reverse mortgage. Liberty Home Equity Solutions was fast. We got a call from an agent, Nelda, and she was absolutely marvelous to work with. She let us know roughly how the whole process worked.
She answered any questions we had and then forwarded a couple packets of information to us. She then called back to see if we had gotten the information and had the chance to review it. That time, we hadn’t so I told her I'll call back in a few days after we review it and I did. She was there and was very prompt in getting on the phone and went over any concerns we had. She explained the process again, put us in touch with a counselor for HUD to review the conditions and that was it. Everything went really well. She helped work us through and still was in touch with us just the other day for some follow-up issues. We were very comfortable working with her.
But we received several notices in the mail and they looked like they’re from Liberty Home Equity Solutions asking us to respond regarding our mortgage and making sure we have the opportunity to buy the mortgage insurance, which I understood was always a part of their arrangement. The notices were not coming from Liberty but from another company called Essex but it looked it was coming out from Liberty. I called Nelda and informed her about it. She made a note of it. She’s gonna discuss it with the office there just to make people aware. Nevertheless, the guidance we have received from Liberty was professional and the rates were fair and competitive. We would recommend Liberty to anyone else who’s considering a reverse mortgage.
We chose to go with a reverse mortgage as we didn't want a house payment anymore. Liberty was the company that contacted us first. During the application process, we signed a lot of papers and the whole process took nearly a month. The reps came to my house and they were very professional. I felt very comfortable with the team at Liberty. They were so helpful and always kept me up to date on everything. Also, they immediately got back to me when I had questions. We're very pleased with this company.
I felt more comfortable dealing with Liberty Home than I did with the other people. The rate and terms seemed a little higher than what I was expecting and the application and the underwriting took quite a bit of time, probably a month or more. However, their application process was standard and didn’t seem to be too difficult. Also, Joanne, the officer I worked with, was very professional, friendly and easy to talk to.
I have been reading about a reverse mortgage and when I had a mortgage with another company, they would put the brochures in with my bill. I called the number that was with my mortgage payment. I read about the application and underwriting process with Liberty. I have been getting it for a while and I decided to call and see what information that I could get. I had never applied for anything like that. I was almost finished paying my loan off and I decided to try stuff and see if it’ll work. It took three weeks for everything to be completed. However, their rate was a little different and I would like to change the fees. I didn’t think it would be that high because I hadn’t applied for anything for about over 20 years. But other than that, Liberty is good. I had nice people talking and explaining things to me and kept me updated on what was going on. I would recommend people to Liberty if they were interested in it.
I had to spend my nest egg on a medical problem and I didn't have the extra cash I needed. And I have three sons who all said that they didn't need my house. They told me to go ahead and do a reverse mortgage, so I decided to do one with Liberty and they'll take care of it after I'm gone. It was like a remortgage on the original reverse mortgage that I had and their application process was long and thorough. It took three weeks to complete and I answered a lot of questions from their reps.
In the end, I got the loan I needed, so I'm happy with their service. I'm also happy with the way they treated me and I really appreciate their efforts. They explained what they were talking about and made sure I understood. They were every patient and they were doing a very good job for me. Working with Liberty has made my life a little bit easier. But their process could be improved if there was a little less paperwork. It seemed like there was a lot of duplication. Also, I would have liked it better if the interest had been lower, but things are the way they are.
I got sick and I had to stop working. My bills got really, really behind and I was about to lose my house. I needed money so I had a reverse mortgage from Liberty Home Equity Solutions. They helped me out and facilitated the loan. I was impressed with their rep's professionalism and knowledge. Getting the reverse mortgage helped me not to lose my house as I was able to pay the real estate taxes and the homeowner's association.
My husband borrowed money that I didn’t know about then he died in ‘09 and left me $69,000 on this house. It would have been paid off in September and I tried to make it until then but I couldn’t. I’m 74 and I can’t work because of arthritis. I've got a pension from the post office but everything costs so high. I have to pay my own bills and I don’t pay late. But I didn’t even have money to pay my taxes this year. I even use my credit card and that’s why we’re able to buy food. I also needed to pay for the house insurance and I didn’t have anybody to help me. The reverse mortgage was the best way to go. I had no other choice.
Before my husband died, he told me not to ever get the reverse mortgage. But my daughter said that I need to enjoy and that he didn't know what he was talking about. She said that reverse mortgage companies do what they do to help older people. My mortgage company was Ocwen and I get the paper bill every month. Liberty was on their paperwork that they sent me so I called Liberty. I'm working with Mr. ** and he is a good man. He knows what he’s doing and my daughter likes him too. I’ve been here in my house since ’71 and I want to stay here if I could. Mr. ** was saying that I would still be in the house. He also said that if I come into some money, I can buy the house back. If I had known I could pay off $69,000 nine years ago, I would have left this house since.
Everybody that I’ve dealt with at Liberty has been great and nice. But I don’t like the procedure. I have gotten the money that was supposed to be coming to me. And in this day and time, $3,000 is a help but it’s no money. I thought I would get more money in the beginning than I have gotten. Still, until that little $3,000 came through, I would have had nothing but the house. The reverse mortgage is helping me but it’s also not helping me. I’ve never had so much paperwork in all my 74 years of life. I just put my faith in God and Mr. **.
Mr. ** called me yesterday saying that HUDS said that I had to have central air. I haven’t had that for a few years now. So I had to pay someone out of my charge card to do that and I didn’t like that. I’m out here trying to get money but now, I’ve got to pay more money on that charge card. Then Mr. ** said that he was gonna come today for me to read the papers and sign off but I hadn’t heard from him. I can’t do anything but sit here, wait and see.
I wanted to get away from the payment, but I realized I have to pay my insurance and taxes. A reverse mortgage reduces my cost every month by not having that and it’s the thing for us to do today. Back then, I had been looking at it for several months and decided to go ahead. Liberty Home Equity Solutions called me first. The application process was okay. Usually, those things would take a while, and I wasn’t expecting it to be immediate, so it was within acceptable ranges. There were lots of things that had to be done including the appraisal on the house and the estimate of what it was worth. They went by my word and it was what I thought it was worth, but it was worth more, so the process, as far as figures, had to be done again.
I interacted with the loan officer and his assistant and their customer service was acceptable. The assistant was very good at returning my calls and getting back to me. I talked with him at the beginning and at the end. She was the one that did most of the process and only conferred with the loan officer when she needed to, so it was fine. I thought I was gonna get more after that. We changed from one method to a different method at the end, so that made some other changes. I would recommend Liberty and I’m satisfied. They took care of us, although they charged a bit much for some of the closing fees and it was non-negotiable when I would have been told that it was negotiable.
I wanted to do some stuff around the house but I couldn’t afford it on my own. I could use the money from a reverse mortgage. Liberty had somebody come to the house for me and go over stuff, and I thought that was the way to go. The process wasn’t difficult either. It just took a while. It took close to two months but a lot of it was my fault. I wanted to make sure the reverse mortgage was what I wanted to do and I didn’t get back to them. Otherwise, it all went smoothly. They kept me informed of what was going on and I was satisfied with the way I was treated. The terms satisfied me as well.
Gary, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
Getting a reverse mortgage through Liberty took a little longer than we thought, but the two reps I dealt with were always there whenever I call them. I applied in March then I got the first bit of money after five months. The reverse mortgage was for some needed repairs and upkeep of the property instead of selling it. Now, we’re waiting to get the roof part done, but they’re holding the money back and I’m waiting for paperwork from another company. But so far, they’ve been doing well. One of their reps, Eric, is still checking up on me if I’ve gotten the packet and helping me through some other things.
Thank you, Murry! We appreciate the time you spent to share your feedback! We’re happy to hear we were able to provide the service you needed.
Getting a mortgage from Liberty Home Equity Solutions didn't take too long. We just wanted to do it and it sounded good. We didn't have to put any money out, so we were happy about it. Their reps came here and went over everything. And, their loan officer was friendly, knowledgeable, very thorough and was willing to help.
We went with a reverse mortgage for our retirement since it's a good way to pull some extra cash out of the house. In addition, we don't plan on going anywhere and we'll stay in the house until we die. I had chosen AAG for my first reverse mortgage and called them up to try to get another one. I spoke to some moron who didn't know what he was doing, so the conversation ended. I then gave Liberty Home Equity Solutions a call and the rep who assisted me was easy to talk to. At one point that he wasn't around, the supervisor got on the line and explained some questions I had. Their process was pretty straightforward and easy, and they didn't sound like a bunch of BS. However, the closing cost was a bit high. Still, they gave an appraisal value that made sense and I'm getting more cash out of the house. They did all the work, kept in contact and they answered any questions or concerns I had.
I wanted to have extra money in case of any emergencies in the house and also to use for vacations, and at first, I got involved with a different reverse mortgage company that was ridiculous. Afterwards, I checked out Liberty and decided to go with them. Both husband and wife have to be 62 years of age or older to get a reverse mortgage and the process did not take very long. It was a couple of weeks.
But the notary public that was sent to the house for closing was totally unacceptable. I felt pressured by him. He wanted me to sign things without reading them. If there were two pages of writing and one page of signature, he'd hand me the third page only. I told him I was not signing it and that I wanted to read the papers. He said, “Don’t worry. I'm gonna leave you copies. You have three days to change your mind. Don’t worry about it.” And I didn’t appreciate that at all. It was ridiculous and I complained to Liberty. They consequently checked with the service they used and he was terminated. The rate and terms were fair though and if it wasn’t for the notary public, everything would have been fine.
My mom and dad were guided to choosing a reverse mortgage as part of the retirement plan through some friends that I got to know and long-term bankers in the area. Experiencing that educated me and I did my own research, so when the time came for me to look at reverse mortgage, it really fit my needs a lot better than the traditional reverse mortgage. I did some blind research and called different companies and got a few people on the phone. I was initially looking at Texas to do this whole thing, but when it came the time that I decided on out-of-state, Mary, the Texas agent for Liberty Home Equity Solutions, suggested the reverse for purchase. The other companies that I talked with were very nice and very professional, but Liberty was the only one that asked more probing questions and Mary continued to follow up.
She was a big reason. There were several months in between, but I went back to Mary because of the fact that she had asked interesting probing questions, not just what I was thinking at that time, and, overall, I wanted to get a feel for what I was wanting to do and some ideas about some options there. The other companies didn’t do that. Everybody was very nice, but Mary took it to the next level.
My application and underwriting process took about a month and a half to complete. I had everything in order and I understood what was going on. I was retired and drawing Social Security, so I was able to get to things that I needed to get to document-wise. The process went fairly smooth as far as I'm concerned. What really helped in this thing was the flow of information and anticipating my needs even though I didn’t need to know about it. My agent out in California said, “Okay. So, we're heading into the weekend. Here’s what's going on through the week. Here’s what you can expect. Nothing to do over this weekend.” We chatted about different things.
That really helped me reduce my anxiety level because I was selling a home and I had remarked to several friends of mine and relatives during the process that my Realtor, less than three miles away, was out of communication and that I can't get any information out of her even when the house sale was going through. However, I was getting so much more information out of Liberty across the country than I would get three miles away from my own version in town. The rates and terms of the reverse mortgage that I received were good. The loan percent is in keeping with the market, only a little higher. The whole plan itself really fit my needs and I can get the kind of home and the area that I want and retain a lot of my own finances, and use somebody else’s money for this.
This was the realtor's first experience with this kind of thing and they were amazed at all the ins and outs. If they could know more or be educated on the upfront side of what those options are out there, that might help because they are the ones who are gonna be interfacing with the potential sellers or buyers of property. As a matter of fact, I introduced my real estate agent to Mary in Texas so that my Realtor can, in Texas, be up to speed and help her clients even more.
The reverse mortgage was a renewal of the mortgage that I had with Liberty Home and I wanted to change the conditions a little bit. I took out my first one with them in 2015 and my experience was so good at that point. I dealt with a woman named Susan and we had a really good working relationship. Then when Christopher took over, it was exactly the same situation and I truly enjoyed the service that I got from him. There were a plethora of people that called, telling me that I was eligible to get better conditions and increase the line of credit on my reverse mortgage so I had to go ahead with it and the experience has been very good.
During the process of obtaining my mortgage and renewing it, it was the same both times. I was a little taken aback by the people from HUD and the Notary Public. They insisted on going back through all the same questions that I had originally answered and they said it was just a bureaucracy, and I agree with them. I was in the corporate world for a good number of years and it didn't matter whether you got it done right so long as you went by the book. The original application took a month altogether. The folks at Liberty kept me informed at every step of the way. My experience with HUD, although it was time-consuming, was done by phone so that was convenient. But with the Notary Public, I signed 150 different pages of stuff and it was some of the unnecessary things, but I understand it.
Aside from Christopher, I also dealt with a young lady named Felicity and another lady that took over when Chris had to go on emergency leave, and both of them were excellent, too. In terms of the rate and terms of the reverse mortgage I received, I understand the expense that I had to go through, but there were some credits on there that I totally appreciated. Liberty granted me some credits and some of the fees were paid by them because I was a continuing customer and had gone through it before. I enjoyed it and it was so well received on my part.
Working with Liberty helped me a great deal with my retirement. I'm 88 years old and I'm battling cancer. I have a lot of medical bills now and that amount is helping me out. I am taking in advance to try to settle our credit card account and that's gonna take a load off me as well. Liberty has done their part well and I'm perfectly content with it. If anybody approaches me, I would recommend that they try to contact Christopher in particular because he was an excellent representative of their company, and I would tell them to go on and find out for themselves how great Liberty Home is.
Thank you, Ted! We appreciate the time you spent to share your feedback! We’re happy to hear we were able to provide the service you needed.
I am 75 years old and I don't expect to be here forever. My wife is about 13 years younger than me and since we owned the home outright, I wanted to create something for my wife after I'm gone in case she needed help. I've talked to people at Liberty for over a year a couple of times and I also talked to four other companies. I wrote notes and studied it and got on the internet and looked through everything I could to bring me up to speed on what this reverse mortgage was all about. Unfortunately, it took about six months for me to decide. Nevertheless, I felt Liberty was very helpful and the people that I've talked to were very pleasant folks and didn't push me to do anything.
I was given paperwork that's about six inches high over the years so that I could read and take a look at everything, and until we got to the end where we actually got a finished product, a lot was based on what the house would estimate for and various things like that for me to decide. Other than that, the rates are reasonable based on what we're doing. I hope that they don't go up a lot over the few years that I am still here and make it a little more difficult, but I expect the house to continue to increase in value and if my wife ever needs to get into bigger amounts of money, it's going to be worth a lot more than it is now if she needs it. I'm very pleased with how Liberty treated me and there weren't any hidden experiences or expenses that I had to deal with because everybody was upfront and very nice about everything.
Russ, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
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