Liberty Home Equity Solutions, Inc.ConsumerAffairs Accredited Brand
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!
We thought we were gonna lose a thousand dollars from my wife’s retirement. So, we opted for a reverse mortgage. Liberty Home kind of snagged us and their application and underwriting process took about a couple of months. Our loan officer worked okay. But it was pretty screwed up that they had to re-engineer my house. And when they do an appraisal, they should be able to tell you something about it other than "I don’t have any information and I won't get that for awhile." I didn’t get the knowledge that I needed from them on how and what I'm supposed to do in case my wife dies. She’s a couple of years older than I am and she’s the only one on the loan. I turned everything over into her name as her taking the loan out and me not being on it.
Instead of answering my questions, they were leaving it on somebody else to do it. Then the people that the loan was turned over to sent me paperwork and told me that I didn’t have a loan with them. It was weird. They said they'd be sending me a welcoming package which I would get in a couple of days. But I still haven't gotten it. All I've gotten is information on the loan. And they turned around and even as I talked to them. They want my wife to give them permission for me to talk them. But I'm on the paperwork as a non-borrowing spouse so I don't know why I couldn't get the information.
My attorney referred me to a Liberty representative, and getting the reverse mortgage was no problem. We had to do some things and we had to check. But there were always a few things that you didn’t expect that came in. The application and underwriting took about eight months. The loan officer was very nice and I liked communicating with him very much. He was looking out for my interest and he was not pushing. I once owned a business and I know when salesmen tried to push things, and he didn’t do that. I had a major question and he went and looked everywhere. There were some things in the pamphlet that he gave and the papers that he sent me and I said, “How does this work?” He didn’t know and I told him that the office said that they didn’t know as well. I told him to get the attorney.
The attorneys he was dealing with, however, didn’t know too. He said, ”We’ll tell them to find out because they have to know.” And they found out. The time in the wait was a little extensive, but we are going forward. I measured by results as well as time, but it was going in the right direction. Because of our age, the only thing we did was have a walk-in bathtub installed. Overall, I had a good experience with Liberty. If you need their service, it is worth having.
Unlike another company who thought my affairs were too confusing for them, Liberty did an excellent job so I'm thrilled with them. Their service was topnotch from top to bottom and they were fantastic people. They communicated very clearly to me and answered my phone calls every single time. Mel from Liberty is a spectacular person. I already recommended two people to Liberty.
Since I couldn't get a loan someplace else for our home repairs, I took out a reverse mortgage with Liberty. When I went to get some information on a reverse mortgage, the first person that called me was AAG. I understand, however, that Massachusetts doesn't recognize them. I also got a call from Liberty and I started going with them, but their application process was a nightmare. In my case, the application process took over a year because I was slow when answering all the questions and it was something that I wasn't interested. There were hundreds of papers that I had to sign, and before they would do anything for me, I had to first get a certificate of counseling from a counselor.
The first time I started with Liberty, things got confusing and I quit. I was gonna start all over again with another company but Liberty heard about it. And then they told me that they already got all my papers laid out and was only gonna take less time. However, the certificate of counseling already expired, and they said that all I had to do was to renew it. So, I went back to Liberty.
The person that I worked with throughout that process was fantastic. It was a lot of patience on their part because when they sent me something to answer, I took my time in answering it. Also, I felt good with their customer service. I had to go to city hall and get a deed to the house to have proof that I own the house. I told the young lady I was working with at that time that it was gonna take a little time to do that. And so she did that for me by way of the computer. I would recommend Liberty to a friend since they were very good and very helpful.
My boyfriend's mom has Alzheimer’s and has caregivers who need to be paid. Since all of her liquid assets have been already diminished, a reverse mortgage was considered as part of her retirement plan. We liked Liberty Home Equity Solutions' flexibility on the loan. Their rate was fair too. Liberty went over the program with us and I presented them to my boyfriend Nick then Nick chose what he thought would be the best for his mom. They provided the documentation that Liberty needed, signed the documentation and then it was put in. There were no glitches in the process but it was a little bit lengthy and that was due more on Nick’s side. KC, the initial loan officer, was really good. He left at one point so we dealt with another guy who was fine also.
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My financial situation was getting to where I could barely pay my bills. I'm in disability and I only get one disability check a month. I would have gotten a pretty profitable amount out of my house but I didn’t wanna have to sell it. I had a lot of equity but I didn't wanna move. I called AAG but they turned me down. Then Ken from Liberty Home Equity Solutions called me and asked if I was interested in a reverse mortgage. I said that I was and I told him what happened and he told me that Liberty can even offer me more money. I tried Liberty at first but I didn't believe it was gonna happen. Ken had given me his phone number and a month went by and I didn't hear anything. Then Liberty called me back, we started the process and I got approved. Go to Liberty Home Equity Solutions before you go to anybody. Even though AAG is rated number one, especially in Colorado, never call AAG.
My main interest in reverse mortgages was on how I could best utilize the equity that I had in my house and I liked the way the people at Liberty treated me. I also talked to an agent from AAG but I didn't feel comfortable. They were more commercialized and pushy. Liberty's application process was also simple and straightforward. It involved a lot of paperwork but since it's a government-backed loan, I could appreciate that. Besides, Liberty made the process easy and it went very smoothly.
I spoke with a counselor and I had to go through the process of applying for a certificate, knowing what was involved with the reverse mortgage as well as the pros and cons of it. The loan officer I worked with was also very understanding and informative. I started out considering the reverse mortgage with the flex line of credit and a variable interest rate, and I questioned him a bit about going the other route. He openly talked about both types of the mortgage, listened very closely, understood what I was asking and answered in a very professional, polite and helpful manner. Staying in contact with them was very easy as well. It took about two months which was quick and I’m happy with the terms that Liberty gave me. It was what I was attempting to get and Liberty helped me accomplish my goal. In summary, I was very happy with the people, the treatment I received and the results that I achieved.
I took out a reverse mortgage with Liberty and the process was okay but it was a little slow and took about three months. There were lots of paper and I don't have a computer so that slowed things down considerably. I couldn't transfer materials very quickly because all of it was by mail. And these people were in California, which made it even longer to get the things back and forth. Also, I thought the rate was expensive. However, my loan officer was very nice, did what he said he was gonna do and usually answered the phone immediately. Plus, we communicated all right.
Going with Liberty was purely coincidental. I wanted to get rid of the mortgage payment so I made an inquiry on the internet, someone called back and we started the mortgage process. Whatever interactions I had with my loan officer were strictly professional. She answered all my questions, treated us with great respect, and did everything she said she would right away. The underwriting and application process took 30 days and the lending process went smoothly. While Liberty kept us up to date, the only hold up was getting the appraisal. The appraisal fee of $650 was extremely high and I have had several appraisals over my life and I thought that was just outrageous. As for the rates, they were higher than the mortgage that I had on my home. But they are in line with what I could get if I had a regular 30-year mortgage. But everything else was fine, I’m glad that I did it and since working with Liberty, I have more money.
Up in the north I had a reverse mortgage and it wasn’t very hard to acquire it. But over here with Liberty Home Equity Solutions, they put my wife and I through a lot of stress that I almost canceled everything. The application and underwriting process took over a month. There were too many questions back and forth. We signed the same contract four or five times. The loan officers were nice. However, the system that they use put me through hell with my credit. although my credit is good. I stopped buying with the credit cards because they didn’t wanna see any purchase on the credit card until the last week that I had to buy something because it was in good price. I paid it at around $600 and they saw that on my credit and they started asking a lot of questions. That was when I said to my wife, “Let’s make a decision. It’s either we go with the regular mortgage or we go back home.”
I was trying to eliminate some cost and decided to look at reverse mortgages. Mary, the Liberty Home Equity Solutions lady that I worked with, made me feel very comfortable that she was not only making a sale but was also trying to help me out. Speaking with her and the education I got from her, it was very much like she was looking out for my interest. We talked about things in more detail even though it wasn’t gonna make any difference to me. She still went over those things anyway to make sure I understood everything. She said the application process was going to be done in about 18 working days, but I got all my paperwork in pretty quickly. Plus, their rate wasn't that much higher than what homes should go in for the moment. It's within a point and a half. I was very pleased with this company and I would definitely recommend it.
After contacting Liberty, I stayed with them because I really liked them. They were very polite, and cordial. Liz was the main person I had contact with. She started me off and got me through their system which wasn't that difficult. The application process, however, was a little complicated and long, but it was not their fault. They helped me get through it. We had a rough closing because the guy who was selling the house was not very cooperative, but everything went normally. Liz helped me get through that. They told me what I needed to do, what I didn't need to do and redid everything. They were just super nice and they did a great job. They just helped us get into the house that we wanted. We moved. And then, everything went well for us on this end. I'm happy, and they are happy. I'm really pleased with it.
Our mortgage was to be paid off on the 18th of June and we didn’t know at that time. We did not have the money to completely pay it off, so we decided to do the reverse mortgage instead. Liberty was one of the names that the company gave us and Wayne, our loan officer, had been really helpful. He was very knowledgeable and any time we had a question, we could call. He was always ready to talk to us and help us in any way that he could. One of the girls here in the community came by and my husband and I signed a lot of papers. She was very knowledgeable as well. She sat down and explained each one of the papers that we signed. We had a really good relationship with the whole team that worked with us and we have been well pleased. From start to finish, the process took about a month and a half. It wasn’t long at all. We're quite satisfied with the rates, too. Now, we are free. Liberty had been so good to work with. Go for it.
It was debt that made me choose a reverse mortgage and the process took two months. There was a vetting process, which was pretty complete. It consumed some time but nothing excessive. The processing fee was about $18,000 and the loan officer was very good and professional. He always made me aware that he was for Liberty and he put me at ease. He had that personal touch. I also assisted and helped my mother through the process.
I needed some extra money and jobs are hard to find at this age of the game, so I did a reverse mortgage. I wanted to have it and get rid of a high-interest rate loan, so I could put the extra money into other bills that I could pay off. I did some research on the internet and I chose Liberty Home Equity Solutions. I took a chance thinking that they were not one of the companies that are looking to take advantage of me no matter what, being a single woman. The application and underwriting process took not more than two months. For me, it was eternity but it's normal practice that you have to wait and it was okay and it worked out fine. The rates and terms of the reverse mortgage are satisfactory.
However, I had an issue with one of the reps that I was communicating with. I left her a message and she never bothered to call me back at the very end, which ticked me off. I wish she had returned the phone call and had said that she got my message. Another thing I got annoyed with was the process where I have to talk to someone and they'll explain to me the ins and outs of the program. It was a waste of time and money. I could've read up the stuff, and there was some literature that was sent.
More recently, I'm waiting for information on customer service regarding a welcome package that their guy told me about. I can't find their rep's card yet I want to call Liberty and say that I need $500. Although I feel they're not telling me enough and that they should give me the option of having access to the money, the people at Liberty are very nice and I would recommend this company.
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.
With a few road bumps, having the reverse mortgage took about three months. But the problems I had were just my own so things went smoothly Liberty Home. Their rate was competitive, the loan officer was extremely helpful and I was kept well-informed with everything. Generally, working with Liberty made my retirement more secure. I would recommend them.
I already had Liberty and then I refinanced. The application process was hell and it took a month to complete it, though. They can shorten it. Nevertheless, the loan officer I dealt with was fine and the rate was normal. Working with Liberty has provided some funding for me that I needed desperately.
I was working with someone local and I went on to use Liberty Home Equity Solutions because I thought the company was local as well, but it was not and I misunderstood that. Nevertheless, I accepted their terms without negotiating for better ones because when I looked around the lenders, they were all the same. I did not have any other asset and a reverse mortgage was my only recourse. The process took two months, and my loan officer was honest. She answered all my questions, was responsive, and she tried to help me in every way she could. She was also timely and did not put me off. I have high recommendations for her, but I had a little bit of trouble with Liberty itself. When she turned things over to Liberty, I had to deal with people there that were a little incompetent. There was a duplicate effort as I had to resend the same documents. It was just incompetent.
Applying for a reverse mortgage with Liberty was no more difficult than I thought it would be and took three months. They were the most helpful and were explanatory but they could be a little faster with the process. Other than that, their rate was very good and working with them has helped tremendously in terms of my money concerns in the future.
My experience with Liberty has been excellent. I needed to take care of the house payment that was using up too much of the retirement and I liked how they handled everything. I dealt with Pat and he was very helpful. He explained how everything works since he's been doing this for a long time now. He took care of me and we were really happy. The whole application and underwriting process took over a month and I had to wait for the process to go forward. Then, I had to check the house. Still, everything worked out and I was very happy that it went through.
I used to have more money and I wanted some security in case things went sour. I borrowed some money from one of my kids and it didn't work out so great. Then, I looked at a reverse mortgage and I didn't have to pay it back, so I chose it to be part of my retirement plan. I saw Liberty Home being advertised, so I called them. I answered a bunch of questions during the lending process and the whole thing didn't take that long. Everybody at Liberty was good except the last guy that came out. I wasn't impressed with him. He didn't like how I put in the dates that he wanted and he had to have it put in a certain way. I also couldn't read his writing. Plus, he was afraid of dogs and I had to practically pull him into the house to get him in here. I told him that he better get used to dogs because about every place he's going to is gonna have a dog.
Liberty told me to tell them what I wanted and that three days from then, they'll give it to me. I gave my blank check, a voided check from my account number, and I put it right into their account. Then, I got my bank statement the other day and I got $5,000. But there was a $20 charge for a wire transfer. I called my bank and asked what it was for. The bank rep said that Liberty usually charges for wire transfers and she didn't know why they would use wire transfer. I didn't know either. Liberty told me they'll get me what I want in three days, but it didn't come in three days. It was more like five and if they told me it would be that long, I wouldn't have cared less. I am gonna talk to Liberty about that. They pay me interest on the money that I'm not using at all and $20 eats up the interest.
I want to eliminate my home mortgage and looked for a reverse mortgage. I contacted two people and my contact from Liberty Home was positive. The application process with Liberty was a pain only because the government requires so much information, but I was helped through that situation. And we got the application and underwriting process done in six weeks. I happened to have been in a unique situation. I live in a condo, and I had to get information from my condo association as well as furnish my own information. And getting those information took more time than it probably should have. So with all the restrictions that the government puts on Liberty, I wish they could still streamline the process.
The staff at Liberty was very good. The guy I worked with the most pushed things through. He is located in Northern Indiana, so we had some mutual things in common since I’m also from Indiana so it was easy to communicate. He kept in contact with me. He’d send me an email, text or phone call and and would tell me where we stood and where we were going. He helped me through everything in the right direction and got things accomplished a little quicker than it normally would have taken. The cost was a little expensive, but working with Liberty helped me with my budget, and it accomplished what I wanted to accomplish. I’ve already passed on Liberty's information to another person telling him that I found Liberty to be a good company to work with.
We decided that a reverse mortgage was the best option for us to be able to have a little extra spending money to make life easier and make some adjustments on the house improvements. I researched a little on the different companies and how much experience they had and where they were on the list of some of the best reverse mortgages companies, and it worked out really well. Liberty was the first one on the list that I called and we ended up going with them.
Liberty made the process of obtaining the mortgage very pleasant. The first person I spoke to, Liz, was awesome and everybody after that made the process so easy because it was confusing. Everybody was very patient and explained everything thoroughly, which was really helpful and made me feel very comfortable. They also knew what they were doing and I felt that I could trust them to help me make a decision. Even when we were in the waiting process of going through underwriting and approval, Liz called me in regular intervals just to keep me up to date on what was happening. The application and underwriting process took about three weeks and their rate and terms were great.
I was very impressed with Liberty. They were professional and detailed. Nowadays, people can't find that. Before the situation could come up and I would even know how to ask, they were already prepared for it and answered any questions I had. They were the best I've ever worked with and everything was good. We're happy and feel at ease that we decided to do a reverse mortgage with Liberty. And now that it's all finished, I still feel confident that we made the right decision.
I’ve been having a lot of health problems and I was getting more and more behind in everything. Everybody was pushing me for a reverse mortgage. I had already gone through one with AAG, and we were going through the seventh month already and the guy wanted a fourth appraisal. Going on the seventh month, I still hadn't gotten anything done and there were too many people involved. Every time I would get a call, somebody else wanted information. Nobody knew what the other one was doing. A friend of mine had heard through another friend what I was going through, and he’s the one that gave me Liberty. When I went with Liberty, my son checked it out on the reviews. AAG had a lot of bad referrals and compared to Liberty, Liberty had a lot of stars and good reviews.
The Liberty rep Ron seems to know everything much better than the previous rep. Whenever something came up, he would call me, while the previous one hardly ever got in touch with me. He would answer whatever I would question him on and if not, he would tell me to hold on, that he was gonna check with me and it would be the same day. He would either call me or leave me a message to call him back. I felt very comfortable with him. However, I’ve been trying to talk to him because I keep getting all these letter things for mortgage protection. I don't know why I need mortgage protection when I’m supposed to have the mortgage protection already. I had also asked him some questions on why they had withdrawn $1,800 and some in my checking account because they said they had made an error.
Liberty took a little over 60 days, and that was better than what I had gone through with AAG. The only thing I didn’t agree with was the appraisal because I had started at 350 and when Liberty took it over, it was at 325. Then at the end of the closing, it came down to 300. Not only that, but I had already had the repairs that were demanded by AAG. We had to paint and take out the sidings ‘cause they were worn out. They had me take off the rod iron and the bars on the windows ‘cause they didn’t have that automatic lock. I had to pay for all this and that cost me over $2,000.
Also, when I went with Liberty, Ron came out saying that he was gonna give me $5,000 cash, and he said, “The reason we do that is because we don’t want you to blow your money so fast.” I understand that, but $5,000 barely caught me up with the expenses. I haven’t even paid the guy for the repairs and I haven’t even paid my car off. Plus after going through everything, there were a lot of fees that I didn’t expect. I can see why Ron was trying to have me not take out so much, because he was telling me that they took out so much for the mortgage payment and the taxes.
I was retired and it was cheaper for me to go with a reverse mortgage. Liberty offered me a better deal and the person that I dealt with, Chris, was very helpful which was the good thing about it. Every time I had a question, he would answer and he would help as much as he could. The process was long and there were so many pages like any other but the rates were fair and it has been helpful financially.
I needed money and the equity in the house was the only way I can do it. I went online and I looked up a lot of places and everything, and Liberty just hit it for me for some reason, the things that they have done and everything. I then called Liberty and I talked to a rep. I had a lot of questions because I wasn’t sure that it was good for me, and I wanted to fully understand what it was. You get online and you get certain things, but I wanted to ask specific questions and they answered everything and I was completely at ease with them. They were really nice to me.
The application process took a month and a half. It was a lot of paperwork but I still I understood. I had twice as much paperwork with another loan company that I was really frustrated with. But this one was a lot easier to go through. When I called and had questions or anything like that, they got right back to me. My original loan officer was great. She answered a lot of questions, walked me through the process, and she explained anything I didn’t understand. I also had to take that course online to see if I understood everything and everyone was very cooperative, very congenial. If I had any other questions at any time, someone has to take the call to all of them. They knew everything that I was asking, how to answer me, and they kept reminding me that at any point that I wanted to back out, I could.
The rates are also good. I know that I can draw on the money that is put on the side and all I have to do is fill out a form and get it over to where the account is. Though in the first year, there’s a limited amount of money I could draw on, I like the fact that while the money is in the account, it’s accruing interest higher than a bank. I also liked the idea that if anything happens to me, there is a year after I pass away that they have a chance to find people that will inherit whatever is left, whether to buy the property, to sell it, and all that. That was a big plus.
I would recommend Liberty to people in my situation who don’t understand what the process is. I've heard a lot of bad things that had happened to people in past years. Somebody I knew ran out of money and she was put out of her house. This to me meant very much, to be able to take care of myself and to do some things around the house that need repair.
Aleksandra, we’re delighted to read your feedback about Liberty! Thank you for taking time to share your positive experience.
I missed my taxes. I couldn’t pay my taxes so I needed the money really bad. I decided to do a reverse mortgage with Liberty. I got $15,000 and I paid the bills off with that. But I still have a lot to do. I need $14,000 on a new roof. I’m supposed to get the roof finished. That was the deal with them. However, I don’t understand how much money I’m supposed to get. I suppose there may be more money coming. I’m 78 years old and I'm on all kinds of medication. I’m on oxygen and I wear diapers. I’m old and I have no children to help me with this. Liberty said the process is gonna be easy and now, I can’t even get a-hold of the people to try to get some money that I need to get the roof fixed. I called back there. They want me to fax them and I don’t have a fax machine. They want me to get on a computer and I don’t have a computer. Overall, it was a bad experience.
Dear Allene, We appreciate the time you took to tell us about your experience. A member from our customer service team will be contacting you directly to research and begin resolving this matter.
I got Liberty Home confused with Liberty Insurance on TV, so I called them. Then, I ended up getting a mortgage with them. I sold my house and I paid it off, then Liberty Home contacted me so, I got another one. Their lending process was too long and difficult. It was very nerve-wracking and I would prefer not to go through that again. There were promises made and glitches in the entire row. It was horrible and the communication between the people that were doing it with each other, let alone with me, could be improved. There asked for a lot of stupid stuff which to me was like stalling on their part. But we finally got the job done and everything has worked out really well. And the whole process took about three months which wasn't take that long
Four days before signing, they asked me for my husband’s death certificate. In the meantime, we were moving and everything was packed. The certificate was in all the pods to be shipped out here so I couldn’t give the certificate to them within that period. I told them that I could give them the day he died and where he’s buried instead. But if they knew they needed one, they shouldn't have waited so long to ask for it. We went on and on about it and it was crazy. Other than that, the rates and terms of the reverse mortgage were fine. I had one before so I knew what to expect. And when it was over with, I took a deep sigh of relief, came home, and celebrated.
Right now, I would be getting a statement from them once a month unless something goes awry with house insurance that they need that I’ll have. And if anyone asks me about Liberty Home, I'd wish them all the best and hope they do well. I hope Liberty does well because after all, we’re all just trying to make a living when push comes to shove.
Hi Concetta, Thank you for reaching out to us via Consumer Affairs. We regret the experience you had with your with loan process at Liberty. We take feedback seriously and will use this as a learning opportunity to implement more efficient processes. In addition, we will work directly with your LO and Processor to ensure that providing exceptional customer service is their top priority. Thank you again for your candid response. Have a great day!
We were trying to live on Social Security and we were only getting over $1,500 and we couldn’t live on it. We saw Tom Selleck advertising Liberty. The reps talked me through everything on the phone and they made the application easier. The application and underwriting process took quite a while though as there were a few problems along the way. We had a fuel tank out here that we had to have taken out. Then we had dirt brought in and both of those took longer.
There was also an awful lot of paperwork that wasn’t necessary, but we got through it. Joanne, the loan officer, helped me a lot doing the paperwork because I’m not good with stuff like that. She explained everything and I felt really comfortable working with her. The interest rate was quite high but working with Liberty made life a lot easier. We're not getting behind on our bills anymore. We were happy and satisfied with Liberty. We had a good experience with them and everything went fine. If friends ask, they should go ahead with Liberty.
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