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.
I made an offer on a house. To get the people to accept the offer, I told them that I would be giving them cash and that they wouldn't have to worry about financing. However, I didn't really wanna give them $600,000 in cash because I bought the furniture too. It was also a lot of cash. So I looked into things and thought of reverse mortgage. If I’m never gonna move, and I don’t care about how much I leave my children because they're rich anyway, reverse mortgage made sense - take the money and go build another house with it or invest it and let that money work for me instead of just sitting in the house. I’ve got $250,000 cash available to me, I still have the house, and I never need to make a payment. It was a win-win.
I then got a reverse mortgage through Liberty Home Equity Solutions. I talked to one of their reps and I told him that I was trying to buy some investment property to build a house on the island. I asked him how long it was gonna take and he told me that it would take 30 days. I believed him even though there was no way that they could handle stuff in 30. Everybody else I've talked to told me it as a 60-day process. That salesman was okay for the most part. He was available and responded but he would always say he didn't know something and that he's gonna find what it was or that he'll tell another person to call me. He also didn’t become too involved after he initially sold me the bill of goods. He pretty much passed the buck off to everybody else. But I guess that's what they do.
I haven't done a reverse mortgage before and I wasn't totally thrilled with the application experience I underwent with Liberty. It seemed like there were too many fingers in the pie and nobody really knew what one finger was doing with the other finger. They would call me repeatedly and ask me for something and I would tell them that I have already sent what they were looking for. But then I would then be told that the rep I was talking to didn't get it and that they would search for it. I would then be told that a different rep has gotten it a month ago.
Then, every time I thought the process was over, Liberty would call me for something else which would take three weeks to get. I wasn’t living in North Carolina yet, and I had to run and go get a North Carolina driver’s license. Then once, they told me was done but then all of a sudden they need my tax returns for this and for that and those were gonna take a week or two. They could have asked for that a month ago. Time was sensitive for me and it was a full-time job to get the loan. It was especially frustrating when I was trying to work and do other things. It never would have gotten handled if I didn’t post-buy. Everything was not easy but I got it done. Liberty could have organized their process better and gave me all the information about what I needed upfront.
Also, once, I needed money to put down on some property and they told me that the check was already in the mail. However, it was not. They checked it out but they told that they didn't know why that happened. It was a little disorganized and the process took longer than I was told. But other than those, Liberty was good on everything else. They were cordial and I always knew that they would return my email, text, or call. They were responsive. They sent somebody out here for me to sign papers and the guy was here when they said he would be here. I would refer people to Liberty Home Equity Solutions.
Thank you, Brian! We appreciate the time you spent to share your feedback! We’re happy to hear we were able to provide the service you needed.
We wanted to be able to continue to take care of the house and be able to stay in it. We also had to consider a lot of things, including our age, and we decided to do a reverse mortgage. My husband happened to be Googling information then Liberty popped up right away and asked him a question. He answered then they called him. Most of their loan process was pretty straightforward. The people themselves, Joanne and her associates, were really helpful. Joanne was our loan officer and she was very nice, personable, and professional. And if we had a question, it didn't take very long for them to respond. But a couple of people that called and told us they were gonna call us a certain day didn't. Still, things worked out. Joanne was really quick and when we didn't hear from somebody that I was supposed to, she found the number and name for me for us to be able to contact the right person.
I also pointed out to one of Joanne's associates that in the list of numbers of the counseling agencies that they recommended that you have to go through the program with them, a number of the numbers were not even in service. And some people wanted us to come drive 30 miles to make an appointment to come in a week later while some people didn't serve our area. It took me several hours to contact somebody that was on hand and willing to help. It was a long and arduous process to find somebody within reason monetarily but was available to do the service. Also, Joanne recommended around $100 and we paid the company that we got almost double that. But they were very professional and they've been in business a long time. They knew what they were doing and they could start helping us right away.
Another thing is, when the appraiser came to the home, she wanted to get under the house. My husband had a lock on the access to that but he couldn't find the key right away at the time. As the appraiser was here and not wanting to come back, he had to unscrew the hinges to get the access to get under the house and look around. But it was good because she said it was the cleanest crawlspace she'd ever seen.
Then, the water heater had to be strapped to the wall securely in case of earthquakes or such and we needed a carbon monoxide. That was no big deal, but it took my husband all one afternoon and part of the evening to get that hot water heater strapped in. If we had known about that ahead of time, that could have been done prior to the appraiser coming. So it would have been nice if there was list of a few requirements that needed to take place in order for her to get her paperwork done in the time that was required, so she didn't have to come back out. But I was able to text her pictures and that worked out okay. Aside from that, we didn't appreciate the first notary that had been out. But we loved the second notary. She was so good and really wonderful. So, we were glad that she came out for the second finding. Liberty had her because they wanted to speed things up, so they got her out instead of the initial one.
Other than that, the loan was done professionally and expediently, and the rate and terms of the mortgage that we got are fair for the economy at the moment. We may find ourselves at sometime just paying it all off, but we'll see. Since we did the reverse mortgage with Liberty, things have developed in a positive way for us and we're thinking this was a really good move for both of us right now.
Thank you, Kathleen! We appreciate the time you spent to share your feedback! We’re happy to hear we were able to provide the service you needed.
My brother and I talked about having a reverse mortgage a long time ago. We're still taking care of my mother, and then he had an accident and he passed away. And then, I had surgery just three days after that, and I was having a hard time trying to find people to take care of my mother. I finally got the state of Arizona, a hospice for older people so now I'm getting help. But her whole social security check was born for prescriptions and everything else, which we don't have to worry about now because she's not on all of medication and the hospice can take care of it. I was caught in a bind because I'm on social security, I just have enough to live on and I have to pay this mortgage every month.
I called AAG because my brother was gonna go through it. And then, their rep said she was gonna get back to me. However, three months went by and I didn't hear from her. Then I called back and I kept getting a recording because she wasn't in her office or whatever. They never got back to me. So then, I got online, called another company and told me my house was worth $125,000, which I know it wasn't. I was surprised in what it came out. I got online, and when I tried to find out more about reverse mortgages, I got a phone call and it was Ron from Liberty Home Equity and he said, "Well, I can explain it to you." He was very good.
I told him I had a solar panel and my house is not worth a $125,000. I was surprised it was worth a $107,000. I told him it was around $75,000 to $80,000, which I was surprised because the prices in Tucson have gone up a lot. He went through all of it and they wanted me to call right away and go through counselling and get an appraiser out. They wanted me to put the money out and pay for all these stuff. And I said, "Yeah, you're saying I qualified, but what happens if something happens and I don't? I'm out all this money for nothing."
And then, I got a call and that's when he started explaining. He said, "Well, before you spend any money, I could check things out for you." He was very helpful and very good, because then I explained about the solar panels. I said "I don't know them. They're on lease.” He said, "Well, you might have a problem with that." But he told me I would get the right thing by not spending money for counselling and for an appraisal until I find out for sure if I was even gonna qualify or not. He said, "Yeah, they can tell you you're gonna qualify, then you can go through all of this and spend this money out and say, 'Oh. By the way, we have this problem, so you don't qualify.' Now, you're throwing away $400-$500 for nothing." He told me that they can get me through this process and they can take care of all of it. If I wanted to go through the process, then they could get me set up for it.
Everybody that I spoke with throughout the process was great. They explained everything and it was wonderful. The process didn't take as long. The rep told me it was gonna take a little while because of the legalities I had here because my brother had died. I already got the house switched over to my name before I even applied for a reverse mortgage, but there was still a mortgage on the house and it was in my brother’s name. However, there was no way I can switch that. It was non-transferable.
We appreciate your feedback, Dolan! We aim to provide the best service for our customers!
I went online and tried to get some information on reverse mortgages and learn all about them. I happened to pull up Liberty at random and I was looking at it. Apparently, they know when someone’s looking at their website and they called me, which I thought was strange. The rep explained everything about the reverse mortgage and it sounded interesting. It all seemed okay, so I told him I would let him know my decision in a month. Then he called back a month later and I decided I was gonna go ahead and do it. It was quite a process, however. They had sent the materials out and it was a regular study program. I had to select somebody to take an oral exam with and then the Liberty rep had to certify that I was not an idiot. People that are my age and maybe even older, get confused and they don’t understand what they’re getting into.
Once I got the certification, Liberty sent me a bunch of papers to sign and the house was appraised. Then they came up with a number of which about 50% went to pay the existing mortgage that was left. The process took three months, although I didn’t want it to go through too quickly. But they wanted it to go through quicker because they thought the interest rates were gonna go up and then there would be less money for me. I forgot how many days it was that I could still reject their service if I wanted to, but I was convinced that that was the thing to do, and I still am.
The only thing that I didn’t like about the whole process was the limit on how much money I can take out of my equity account upfront. We were not hard up for money though. That was not the reason why I did it. Our problem was we had a lot of money in tax-exempt accounts. And if we took out more than $15,000 out of any or all of the accounts in a year’s time, then we would have to pay an exorbitant amount of income tax on it. What I didn’t know and what seemed to be a deep, dark secret was that we are only taxed on half of our Social Security. So once we get over the magic number where we have to pay tax, then we get taxed on 100% of our Social Security. The number, I think, is 13,500 and I get up over that. So it was not just a matter of paying an additional 7%. It was like 25%, so I jumped up by two tax brackets.
I talked to Liberty about the rate and terms and I asked them what would happen if I decided to pay the mortgage off. The rep said that only 1% of the people ever pay it off and that they just let the house go at the end. But I had my daughter involved in the process, so she understood what we were doing. She could still sell the house or we could or my wife could. I don’t ever wanna leave this place but if I croak, my wife is gonna have to go through all this mess of trying to sell everything. In this way, with the reverse mortgage, we really don’t have to. She can walk out of the house and just leave it, and let the bank take it or whatever she feels like doing. Or if she wants to sell it, then she can, and it’ll be a 150,000 or 200,000 profit after she pays off Liberty. She’s gonna have to make those decisions when the time comes. But in a year from now, we will have a nice equity account to draw on to do all the things that we wanted to do.
I was really happy with Liberty and I still am. However, when we had to sign the final papers, there were some numbers that I was not expecting to see. The papers had to be all signed in front of the lady notary who came out with the papers, but she could not explain anything. She was just there to make sure that we were who we said we were and that we got all the papers signed. I called Liberty three times during the process and they explained exactly what I was signing. The reps were wonderful and they still are.
We then got a letter in the mail saying that they had issued the checks and that a company was titling or putting names on the house. I did not recognize the name of the title company, so I called Liberty right away, and they said that was their parent company, the one that owns Liberty. The process that we went through with Liberty wasn't easy. But I can understand why it wouldn’t be because if somebody is not mentally sharp, then they probably should not be doing this. One has to completely understand that you’re getting the money now and if you spend it now, there’s gonna be nothing later.
Thank you, Donald! We appreciate the time you spent to share your feedback! We’re happy to hear we were able to provide the service you needed.
My mother was in her 90's. She had dementia and wasn't in good health. She was in the hospital and I didn't know if she's gonna make it or not. And so, I weighed all the options and found out that I could take an early retirement from Boeing. I stayed home and cared for her. At the end of last year, she was very sick and bedridden. I had to clean and feed her, and it took all of my time. She died in January and I was figuring out what I was going to do, if I'd go back to work or what. I started concentrating on doing the house, cleaned it up, put it back together and worked on the yard.
I had filed for my social security and I got a pension from Boeing, but it was just enough to make the house payment with a little bit left over. So, I started out with a loan company and I didn't like working with them. They sell loans all the time and I really had a hard time understanding people and getting answers from them. I was looking at their website and I was gonna apply for a modification to lower the payment. I saw the thing on there for the company that did the reverse mortgage and I decided to click on it and it took me right to Liberty. I called them up and they were very helpful.
I was pretty leery about going in. I even called a friend of mine who had his house refinanced not too long ago. I talked to his loan guy because he said he was a real straight shooter. He told me as well that they are governed by Federal regulations. So, whoever I'll go with has gotta stick by those regulations. I needed to make sure they're not some fly by night. So, I checked Liberty out to make sure they were legit and they were. They were very straightforward and patient because I told the guy my mother died recently. I told them my main concern was I wanted to keep this house. I was afraid I wouldn't be able to afford everything even with my pension and my social security. I probably could have done things differently. I probably could have simply refinanced if I would have started doing it about six months earlier.
For my situation, I finally decided that doing a reverse mortgage was my best option because I found out that I don't have to stay with the reverse mortgage. If I decided to go back to work and if I wanted to refinance the house again, I could get back to the way it was. I'm not married, I don't have any kids and I only have a dog. So, I don't have anybody to leave anything to. If I decide to stay in here until I die, I can simply clear my head and figure out what I'm gonna do. And then 10 years from now, if I get married and I want to sell, I still have some equity build-up in the house. I paid 222 for the house and it was appraised at 570. I only owed $120,000-$130,000 on the house and I can always refinance it in a conventional mortgage again.
When I found out that time was getting short that I had to make a huge house payment because I was falling behind, they really got into gear. I have a truck and it had broken down, so they sent people out to the house and had me sign the papers. I didn't have to leave my house except to send stuff. They were very good and I really enjoyed working with them. Ron and Aliana were very helpful and were nice to talk to. The guy that I was working with for the most part was very professional and everyone I talked to there was professional, too. The reverse mortgage worked out for me and for the first time in a long time, I don't have to worry about anything as far as finances go. I can live in my house till I die, and I don't ever have to worry about making a payment again. It was a very positive experience and I really appreciated their help. Liberty was awesome.
Great feedback, Randy! We genuinely appreciate it, and we’re glad to hear that you’re happy with your experience working with Liberty.
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So far, my experience with Liberty has been really good. I needed reserved money in savings and also since we traded cars, I wanted to pay that loan down. I called Liberty and they set up an appointment. They were really helpful in the process of checking rates so I went with them. Everything was done by phone or they would send somebody out in person to get the necessary papers and documents signed. That made it really easy that way.
I was really impressed with our loan officer as she stayed in touch and kept me informed of what was going on. She lives in California and I live in Kansas. There is a little time difference but then I would call in the afternoon instead of the morning and she was always around when I needed her. The process took 60 days which went quicker than I thought. I was really happy and the reverse mortgage worked out well for us. For as long as I don't use too much of the money that's available, my reverse mortgage is a reasonable loan. There is money that's available but then until I actually withdraw, I'm not paying any interest on that money. Instead, Liberty is paying me interest it.
Thank you, Willis! 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 applied at Liberty and Howard the loan officer helped me with the application and went uphill from that. The application process went fast and I was really pleased with it. Howard knew what he was talking about and I was very comfortable with him. I wanted them to answer back the questions that I had and he was always there to answer them. I talked to him several times and he would explain what it was, then he would email me in writing what we talked about. The appraisal also went well and the rates and terms of the mortgage I received were right up my alley. Working with Liberty has been really good. They worked well with me to close my loan. They would be the people to talk to for a home reverse mortgage.
Richard, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
We're at the point in our lives where getting a reverse mortgage would do us more good than bad. After interviewing three of the providers, Liberty was more friendly and more informational than any of the others. Liberty's application process was stringent. And there could be better communication during the loaning process. Other than that, everything's good. The rep we worked with was very good, very informative, and very helpful. She never turned me away for anything. When we had a problem, she went right to work on it. She knew her job and was very polite.
Ronald, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
Liberty Home Equity Solutions seemed like a good deal and the application process was all very professional and well done. The application and underwriting were completed in about an hour and the rates and terms I received were about what I expected. Also, the staff was very personable and eager to help and it was very easy to get hold of them.
We appreciate your feedback, Wesley. We aim to provide the best service for our customers.
We liked Liberty's quick response. And the initial process was fairly simple. The process in which everything finally got confirmed and finalized was tedious. But it isn't just Liberty. The whole industry has to get rid of some of the paper. They need to streamline the paper situation. It's ridiculous. Other than that, our loan officer was great. I was impressed that he was able to take my calls. The rate and terms of the reverse mortgage wasn't great, but it's okay. Liberty gave us flexibility.
happy with your experience working with Liberty.
I wanted to be able to use our equity and do some investing and decided to apply for a reverse mortgage with Liberty. The process took two months though. The paperwork was voluminous and it was quite thorough. It involved state, federal and local paperwork. Also, we had to have the place appraised and do a credit check. But other than that, the Liberty reps were very forthright and explanatory. The gentleman that I worked with, Rick, explained things fully. Also, we had to go through a procedure, on the cellphone, to find out the pros and cons of a reverse mortgage and sign papers so we knew exactly what we were getting into.
We appreciate your feedback, Terence! We aim to provide the best service for our customers!
My brother did some research and thought that Liberty sounded like a good company. We were both pleased with them. Ron the rep was very good. I spoke with him the most and he seemed to be a caring person. He explained things and cared about how people were feeling. Plus he called and kept me posted on what was going on. The application process seemed good. They kept in contact with what was going on. There were also a couple of other ladies that called me to let me know something was coming and that they needed something. Liberty seemed to know what they were doing and the lending process went well. This was my first time obtaining a mortgage, but working with them, I was as comfortable as I could get with something that I'm not familiar with. There was also some cash that came out of the mortgage. If I knew somebody looking for a mortgage, I would recommend Liberty and Ron.
Marilyn, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
I was trying to get some bills paid off and Liberty made me feel like they could help me. They told me what I needed to do and whatnot, and they followed right through with me. About a week ago, we signed the papers for the reverse mortgage, and we're all set. It was a very easy application, and the entire process was great, plus the rep that assisted me was very friendly and helpful. I had the guy's number, and I called him any time I felt I needed a question answered or to know what to be expected next. They explained to me what would be coming up and they also sent me paperwork with figures on it. I gotta give them a call because they sent me a thank you note for going with them and they told me if we have any questions to give them a call.
Phil, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
We bought the house three years ago. It was a foreclosure and well under what market value would be. We planned that if we needed to, we'd do a reverse mortgage on it and we wanted to wait seven years but we ended up doing it after three years. Liberty was the third company I went to and they were the one that got the reverse mortgage closed.
The application process was fine but we had an issue with the appraisals. We had one already, but they didn't like that one. We ended up getting two more and they finally said they wanted the one in the middle. We're in the mountains where the houses are not cookie-cutter. Everything is different and hard to compare. The application and underwriting process took at least two months and Liberty was as good as anybody could be. They communicated pretty well. The whole process was extremely expensive and there was nothing that could be done with that, but we got a decent rate. Also, working with them has made making ends meet a little bit easier.
We appreciate your feedback, Buddy. We aim to provide the best service for our customers.
I wanna trade my house for a truck and decided to do a reverse mortgage. Liberty Home Equity Solutions, Inc. made it simple. Katie and this other guy that I dealt with there were nice and they did everything. They sent me the stuff. I signed it and sent it back to them through UPS and it was done. The whole application and underwriting process took about three months. In the end, I got $8,000 more than I thought I was gonna get which was great. I'm gonna get a bigger truck than I wanted.
Robert, We’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
The staff at Liberty Home Equity were very good, nice, and helpful. I had a question about how money was transferred into my account if I needed any and they helped me with that. Any questions I asked, they answered, and any call I made, they returned. However, the process was a little lengthy and took longer than I thought it would. Nevertheless, the rate and terms I received were doable. I'm not going out and buying houses, but as the house gets older I get older and I wanted some backup money. Working with Liberty has given me what I wanted.
Thank you, Robert. 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 decided to get a reverse mortgage because of my situation in life. Liberty was a recommendation from a lifelong friend. The application process was what I expected. It’s like a mortgage for a home. It’s long and arduous, and you gotta get a lot of information, me especially because of my name change. The guy that helped me made it pretty clear. Every question I had, we had an answer, and then we took care of it. I was very impressed. A notary showed up at my house three times, once for the application process and twice to finish. It was quick and easy compared to what I thought it was, because I know people can spend a lot of time applying for a house loan. I was surprised how much the closing costs were though. They were a lot more than I expected. But working with Liberty has taken me from going completely into debt to being able to live on the money that I make now.
Christine, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us.
Liberty was very professional. I had three quotes and Janice, from Liberty, was the only one that followed up on it. She was very upfront and honest. There was nothing hidden and she answered any questions I asked. She also always called me back. Then when they said somebody was gonna come to the house, they came to the house. They did everything right. You had to have an appraisal and they told me when the guy was coming. He came and I got the appraisal then we had to go through the title and the rep knew everything that had to be done.
There was a lot paperwork. I was filling all the paperwork out and having them signed in front of a notary. You also gotta make sure you have insurance on the house and that's about it. The requirements were insurance on the house, how much money you got and if you could afford it. I took a mortgage that is shorter than normal so the rate is a little bit higher. But that’s what you gotta pay if you want a short-term loan. The process didn’t take long and it was a nice process.
happy to hear we were able to provide the service you needed.
My experience with Liberty has been excellent. We were really helped through the application process and everything by Mike. Then the pass-over from application to approval and putting it into motion took a while, but that was okay. I've gotten real good service requesting money from my account since then. So, I have nothing but positives to say.
He stood out and was very supportive. He was very reliable in the way he went about it. And it didn’t seem like he was selling. The others seemed like they were selling aggressively. I submitted an application. Then we went through some credit things, and I had a couple little debts that he could easily explain on the credit, and we got through that. And then we had an appraisal on our house, which was very satisfactory. Then we got it closed.
Mike helped us a lot with the application. The other people just gave it to us and said, “Fill that out.” He helped us a great deal and assisted us in filling out the application. There were steps that he would know and we didn’t have to do. Also, there were letters I had to write about my little credit debts. He crafted a draft letter and all that for us. The other people did not do that. They just kinda left us out there to do whatever we had to do. But Mike never oversold and it was like having a quiet friend doing this. We were quite satisfied. Getting this done was important. I'm 79 and my wife is 78. We'd like to stay in our house as long as we can. And this really solidified our financial plan for the rest of our lives. We've been relaxed about our future since this happened.
happy with your experience working with Liberty.
Reverse mortgage is not for everybody but it was for us. I started by calling around and Liberty seemed to answer my questions right away. The process took a long time but they stuck with us all the way, even when we were having problems. First, they sent us information and they went over it with us more than once. If we had any questions, they would answer them and they took the time to do that. They didn’t try to shove us through. They were real knowledgeable and very nice. Our loan officer was Eric then there was Peggy. She was back east and she helped too.
Then we had to get information for them on who we had the mortgage through and what bills we had. They kept in touch with us all the time, even if it was just to say hi that day or how things were going. That was real comforting too. We had a few problems we had to take care of and they helped us through that as well. There was a lien against the house we didn’t know about and they really got all the information we needed so we could take care of that. They would find out why this or that happened. They didn’t give up on us, and I was very pleased. Then finally, it happened. Everything went like it was supposed to and the rate was fine as well.
Vicky, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
Working with Liberty has eased my mind because when I lost my wife and her income, I was unable to pay the property tax and I was gonna lose my home. Liberty was the first ones that called me and Eric was real nice. He treated me with kindness and respect. The people at Liberty were also easy to get a hold of every time I called, if they were there. If they weren’t, they called right back. The process took less than two months and the application went smoothly. My sister helped me and they explained everything. The terms were good and fair, and overall, it was an excellent experience. I've recommended Liberty to my sister in Nevada and they took care of her as well.
We appreciate your feedback, Michael. We aim to provide the best service for our customers!
My wife needed 6,000 for a cataract surgery, we needed 10,000 to fix the tubes, and re-concreting our porch around the house was gonna cost quite a bit. I didn't have enough to take care of all that and still have some money left. We're doing fine, but I didn't wanna spend the kind of money that was gonna take, use up my little savings, and be paying a note. We have a home that we paid for and I never had a note from day one. So, I decided to do a reverse mortgage because my three boys are all making good money and they don't need anything that we've got.
I was looking online and Liberty Home Equity Solutions wasn't in the top 10. But a lot of times I don't pay attention to that because that's swayed by who's making the thing. So, I looked down and I saw Liberty, and they seemed like an awfully good company so I decided to do the reverse mortgage with them. They were upfront with everything which was good because when I had a question, they answered it. A lot of people are against a reverse mortgage, but if you go to the bank and you want a hundred thousand, they're gonna make you a note for three to five years. The process of obtaining the reverse mortgage was easy and the lady rep helped me. Liberty called me back when they needed to and I called them when I had a question. They sent me all the paperwork and it was pretty plain.
Our experience with Liberty was great and simple. So far, everything worked just like they said it would. Then they called me and another lady rep got on and took over. She called every now and told me not to worry since the process took time. Liberty told me that it would be 22 days before I got the money. But I was not in a hurry because I've got a good income and it's just me and my wife, and I just waited for each thing to happen. I'm satisfied with the rate and terms of the reverse mortgage that I got. I don't pay anything and what I didn't want was a note. As it is, I don't have notes on anything except for credit cards. When we pass away, the home would be sold and the boys can take care of our land, pay off whoever has to be paid, and then they can split whatever is left.
Edward, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
The first time I talked with Liberty, there was a lady who was so friendly and just answered the most stupid of questions that I had to ask. She seemed so concerned about the problems I was having and she told me all the various ways that I would be able to solve them. I really appreciated all of her help. But it turned out that we didn’t qualify because we had gotten a loan within the past year. We have to wait a year. After just six months, they contacted me. The particular lady I talked to before was home sick and was off work for a long time. But her husband was working there too and he ended up helping me. The lady who originally helped me remembered everything about our conversations and me and my mom. It was just like talking to a family member.
The process was great. They led me through every step of the application. They called me every step of the way too. I nearly got writer's cramp from signing my name but other than that, it all flowed smoothly. They sent a notary to the house and they were helpful too. We started in January and it was all finished up by the end of February or the first week of March. During that period, you have to have a training and have to take a test. You have to have your house appraised too and all the various stuff.
Patrick was my loan rep and I liked his helpfulness and how he told me to feel free to ask him if I had any questions. I just called him up and asked him whatever question I had, and he was always really friendly and more than anxious to help any way he could. There was thoroughness too. He didn’t just say, "It's like this." He explained why it was this particular way and everything. I dealt with his secretary too and after towards the closing, there was an additional person that I directed everything to. All three were just fantastic. They would send me emails saying what they had, what I hadn’t sent and what I needed to send. I was probably a major pain to them but they didn’t care. They were super nice.
There was another company, AAI, and their guy called me nonstop just telling me what they were gonna do for us. He wanted us to use his people. And even when I was in the middle of dealing with Liberty, he wanted to take over. He said Liberty was not a good company, whereas both the husband and wife that I was dealing with at Liberty never said one bad thing about any other company or any other person which I really respected a lot.
Liberty got me some money that I desperately needed. They really worked with me on the rates and my mortgage terms. The guy at AAI was telling me that they couldn't give me a good a deal as Liberty so he sent me an offer and said that Liberty won't send me anything in writing but he would. And he did but so did Liberty. Liberty beat them big time. They got me twice as much money as AAI was offering.
Leonard, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
The reverse mortgage was to give me backup for my investments and savings, and compared to other companies, Liberty offered more options that were appealing to me. The application process wasn't bad either. It took no more than 10 minutes and the people were knowledgeable and easy to deal with. On top of that, the terms they gave me were fair.
We appreciate your feedback, Francis! We aim to provide the best service for our customers!
We were faced with a huge debt lien and we didn’t have any way of getting out of it. We were given a do-or-die day. I immediately got on the computer to do research on reverse mortgages and Liberty was the first company to appear. My husband used to work with BoA. He's been in mortgage banking for 30 years so he knew the questions to ask. We called Liberty right away and when we talked to a representative, we were very much impressed with her. Our rep was very helpful and patient. She didn't pressure us. She told us it was ultimately our decision. She just gave us the good and bad with it. What worked for us was that I own my home outright so we were able to get the amount we needed to pay the taxes off.
The worst part would've been somebody trying to pressure us into the program but we found out they don’t really get a commission. They get credit for the loan, but not for the amount of the loan. It wasn’t like, "Hurry, hurry. You only have one more day…" Their rep was very upfront about how long it would take and what was gonna happen each time that they called. We had one situation where I had paid my property tax late by two weeks or so. I explained that situation to her and she said that they wanted to just show the underwriter that we acknowledge it and it won't happen again.
The process was just like getting an equity loan like the paperwork and the notary. Nothing came as a surprise. I had my husband helping out and we thought the process was very easy to go through. Liberty was very accommodating. The application and underwriting process took about 30 days from the time we made initial contact. Our rep got on it right away. We started the process, they did a credit check and they did a title search. We were very satisfied with the whole process although there was a little bit of a delay when we were supposed to have our money. We were up against the wall to get this thing funded so we could get the IRS paid for.
But our rep completely explained what was going on and what they were faced with. They had a flood of signing they had to do and ours was definitely gonna be funded by the next day which was probably about 12 hours later than we thought. She understood the whole tamale and everything. It was all well. She called us immediately when the loan funded and when it would record. She was very hands-on with us and was always very pleasant to talk to.
Our loan rep was Elizabeth and she always answered her phone. It never went into voicemail. We communicated via email too but rarely. She would get back to us and say she would get her assistant get back to me really quickly. It just went really smoothly and the process was made kinda easy. We had the underwriter come to the house to fill out the initial paperwork. And when it was closing, we met at our attorney's office and that underwriter was very patient because the attorney wanted to read pretty much all the documents. We wanted him to go over the trust and make sure how it affects the trust and all that. But it was a very pleasant experience. We were happy that we were able to get our situation taken care of. If anybody ever asks me, I would definitely recommend Liberty.
Marilyn, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
We don’t believe in AARP in this household. We have AMAC instead and they recommended Liberty to us. Our experience with them was different than I thought it would be, but there was nothing wrong with it. I didn’t know that they kept half the mortgage in their hands and they would only give you half the money for the transaction. That was a surprise to me as I thought I'd be getting a little more than that or a third. But their reps were fine and the process took something around two months to complete. It wasn’t a hassle for us at all but we had to re-sign some stuff because the guy that they sent out to do the paperwork got things mixed up and I need to fill him in on what he needs first before he comes out. Other than that, the rates & terms of the mortgage are good and right now, the mortgage makes me more secured with what I’m doing.
We appreciate your feedback, Ron! We aim to provide the best service for our customers!
A friend of mine used Liberty. Also, her son checked a lot of different companies and he said that this was the best company. So, I chose to go with them as well. Obtaining the mortgage was pretty easy and the rate & terms that I got were okay. Working with Liberty has also been a little bit easier for me because I am getting enough a month to pay for my caretaker. I've been really happy with them and I would recommend them.
Gladys, Thank you for taking the time to share your Liberty experience with others. We’re happy that you enjoyed working with us!
I wanted to keep my house and live in it, which made me decide to get a reverse mortgage. Liberty seemed to be there when I needed them, but obtaining the mortgage seemed to be a really long process. It took about 10 months, but in the end, it was good. I tried hard to get my appraisal fee taken care of, but I still had to pay it off the top. The rate and terms I received were good though.
Thank you for providing candid feedback with Consumer Affairs. We would like to understand your experience with Liberty's overall loan process a little better. Someone from our team will be contacting you directly. We appreciate the opportunity to improve our customer service.
My grandmother was running out of money and she chose Liberty Home Equity Solutions to do a reverse mortgage as part of her retirement plan. I was the one that set it all up for her and the application process was fine. Liberty needed to let us know what they needed first before getting through the process and telling that they needing something else too. The loan officers that I worked were friendly. They kept up to date with me and they answered all my questions. The guidance that I received from them was excellent and my grandparents were okay with the rate and terms of the reverse mortgage that they ended up receiving.
We appreciate your feedback, Amanda! We aim to provide the best service for our customers!
I’ve been in my home and thought of getting some money from it. I took out a reverse mortgage from Liberty Home Equity Solutions Inc and it was a true clusterfuck. The young man that helped us was very efficient, but his hands were tied. He couldn’t do this and that. Liberty doesn't really help you. They just bait you and you don’t get as much money as you should get out of it. My house is worth a lot more than what they lent me on it. My house is a hell of a handsome home. I had an architect come in and we spent about 350,000 on it. Plus, I have eight acres in total. I’ve got two parts of the land and both are considered as one, but Liberty only considered the land with the house. They don’t give a damn what the house is worth. I live in it and maintain it. And I pay my taxes. I probably spend 15,000 a year.
The process took forever. It was a lot of baloney. There was an inch of paper to sign, each a few sheets and it was chaotic. This last time, a guy took five months to get me $5,000. What the hell is five grand? I spend that on taxes and maintenance in six months. Plus, I could walk into a bank and borrow 85,000. I was warned by so many people not to get involved with the program and that it sucked. But I thought that it couldn't be that bad. It was the government. But it was the worst thing I’ve ever seen. Liberty is run by the stooges. I should’ve known better than to get involved with a government loan business. I had so many friends tell me, “Don’t get involved with it,” and they were so right.
Thank you for providing your response on Consumer Affairs. We take feedback seriously and will use this as a learning opportunity to implement more efficient processes. Someone from our customer service team will be contacting you directly.
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