Liberty Reverse Mortgage Reviews

When I first got my reverse mortgage about two years ago, I was with PHH Mortgage. I had experience with them before with my mother's reverse, so I really didn't care for them. I received a letter where they were changing to another company with a letter from Liberty. That was when I contacted them to see if I can have my reverse mortgage put with another company because I didn't care for PHH’s tactics and the way they handle things with the reverse mortgage. I wasn't comfortable with them.

I went out on the internet, looked at various websites and Liberty came up several times as far as good experiences go. It was between them and two other companies, but we ultimately went with them and they responded quickly. It was a smooth and straightforward process. We provided initial paperwork then somebody came out and did a walk around of our property to evaluate it. We had to go through a counseling class as well. The counseling was helpful. Then paperwork was done. We started the second week in July and we were done by August 30th. We also had a deadline for ourselves, and the timeline was very satisfactory.

I wanted to get a refinance and went with Liberty. The process was very good though things online were very difficult for me because of my eyesight, so I had to get one of my kids to help. My complaint was having to go through so much of the same cost I had just paid for the first reverse mortgage. But I understand that it's standard procedure and not much that can be done. We went back and forth for a while because I was trying to get some satisfaction for FHA. We started in April and didn't finish until September. But I very much enjoyed working with Eric who was my processor. He was a tremendous help to me. I liked the way he was explaining things to me. I'm 87 years old so it takes a little longer for me to process some things. I liked his patience with me and his continual correspondence to keep me informed of what was going on.

The whole idea of doing a reverse mortgage was overwhelming to me. I also thought, "This is a very good idea. I can stay here. This is great." I put off things for a while, then I said, "Okay, I gotta go ahead and do this." I decided on Liberty Reverse and their process was good. I was nervous about doing the reverse mortgage, but I thought the process was a bit short once I got going. The rep who gave me information seemed knowledgeable. He seemed to know everything, every question that I asked him. He was also persistent, so he helped me in that way. I was satisfied. On the other hand, the interest was bad. It was too high, so I did a refinance to get it down a bit. I had money deposited right in my checking account and that was good.

I live alone and my parents are deceased. I have no siblings or children, and therefore, no grandchildren. If a reverse mortgage was built for anybody in any situation, it was built for me in this situation because I don't need to leave the house to anybody. I don't need to worry about that and I needed funds to do some upgrades. The staff at Liberty Reverse made the application very easy to do, and it wasn't overly involved. They told me it would take about 60 days from first application to closing and that's about what it took. Everything was utterly outstanding. They answered all of my panicked questions. I wouldn't improve anything. Siobhan and her colleagues were great.

Liberty Reverse answered all my questions and their rate and terms were comparable to the others. They did everything that needed to be done and the loan officer was fantastic. He was polite, courteous, well-knowledgeable and a brother in the Lord.

I got some advertisements through the mail and I went with Liberty. At the time I applied to do the reverse mortgage loan, I needed a roof and going that way was my only option. It was a good deal and I'm fine with my outcome. I just trusted them and they gave me the best, which was that offer. My loan officer was Siobhan and she was nice and friendly. I was impressed with her personality. She called back whenever I called and was helpful in explaining things. I didn’t understand certain things until I got a lot of paperwork. I still got some repairs that I got to work on but I got information that would help me when the repair’s finished.

Brian, the guy that I talked to, was extremely nice and knowledgeable and made me feel like I was his only customer. He answered every question I had. He was very good, and obtaining the mortgage was very easy. Liberty Reverse did all the work. The interest rate was a little high, but who doesn't think the interest rate is high when they go to paying it? Overall, things worked out great.

I called four different companies and talked with them before I chose Liberty. Their quotes were very close together but I chose Liberty because of the man that I talked with originally. He was very honest. From start to finish, the process took six weeks, and I thought it would be longer. They’ve followed through all the way. They've told me what to expect, and it's been exactly as they told me. I would definitely recommend them to someone else, and I already have.

Liberty Reverse Mortgage provided me with the best options. I provided whatever documents they wanted and it was reviewed by their underwriters. It was simple. Their rates were better than the other companies I have tried to work with.

The process of getting the mortgage was a little more difficult than I had expected. Sometimes my health isn't the best. I'm 79 years old and there was a lot of details involved. But the rep I worked with was very nice and patient. If I didn't get right back to her about something, she called me back. She earned every penny that she got. Her assistant was patient, too. But the rates and terms of the mortgage were a little high. I was in a pinch and I needed some extra money and if I had another source to get the money, I would not have done it that way because in the end, I paid out more money than I received. But the rep made it as easy as she could and she did point me to a homeowners insurance company where I saved over $1,000. I appreciated that.

The lady I worked with was very knowledgeable and she seemed very helpful and professional. I went through the process very timely and she answered all my questions. I would recommend Liberty. The closing cost was a little high, though.

I recognized the name of the company and everything worked smoothly when I got the mortgage from Liberty. The application process was tedious but it was all fine. I delayed it at one point so it took six weeks. The communication was very good. It was personal and professional, and what I was hoping for. The people were nice, friendly and easy to deal with. I'm in the financial world, so some of the stuff was easier for me to understand. They did a good job.

My rep was knowledgeable and understanding. She didn't waste my valuable time. Liberty is very competent. They have top ratings and they seem to go hand in hand with those observations that are listed through research. I have recommended them to several other people in the government as well as residential. They understand everybody's concerns. They're eager to explain line by line so you don't have any questions. They'd rather you have questions because then they feel they're doing their job. I researched them along with several others and they kept telling me that they're feeling like they're not doing their job. Reverse mortgages are the best way to go once you get to be an old person. You cannot be held under the gun for monthly payments to a mortgage company or you're not paying interest if you have a mortgage that has to have your taxes and insurance wrapped within the mortgage. You're just paying the base fees.

I didn't think that I would be allowed to refinance, and I was running out of money. Liberty sent me this incentive in the mail so I pursued it with the office in California. They said I was a good candidate because my property went from 375 to over 700,000 in value. The reverse mortgage, which is put through by HUD, helped me a great deal because I couldn't afford to do a regular mortgage. However, the process took quite a while from February until a month ago.

I had started with a different company but they were not patient. My friend found Liberty and they were good right from the beginning. They know what they're doing and made everything easy for me. I probably would have still been working on it, but I have a worker that comes here to help me because I'm recovering from a surgery. If they aren't as good as they are, then I probably would still be wondering what I'm gonna do. If anybody mentioned to me that they were looking for a reverse mortgage, I would refer them to Liberty.

I had an original loan that I made in 2005 with Liberty. I got a second loan when I knew that I could stay here. So I did the mortgage to get more money and to be set up. I understood a lot with what was going on in the process. But when I needed to ask the reps, I got the questions answered. The only thing is that I have a well and they wanted me to get a water test of different things. I went back and forth and finally, they said I didn't even need it. But there sure could have been less chaos if they would've made up their mind right away or sooner because this went on for about a month. The rate that they offered now was better than what I had on the old loan. So, it was good. The whole process took a long time but that was okay.

We already had the reverse mortgage with Liberty and we did it again. So, we got a better rate. Every three days, we were getting an advertisement to refinance, and we're still getting them. It's a form letter and it says that since we already have a reverse mortgage with them, it would be easy because all the information was in the file in their system. But it turned out to be more bookwork this time than it was last time, and a lot of phone calls. Seeing that they had supposedly all of the information there, I don't know why we had to do it all over again. We were dealing with about four reps instead of having it all go through one. We had our regular one but we had other people doing certain parts. I'd ask them where they are and everybody's in a different city.

I liked what I was hearing when Liberty called and the process was easy. I did everything on my phone until I had to do the actual signing and notary came out to the house. It was explained to me how to do it and it was easy finding documents they wanted, taking a photo of them and sending them. In fact, my agent was surprised everything was done so quickly. He thought it would take four to six weeks but it was two weeks. Liberty got us out of a difficult period and I would recommend them to anyone.

This was our third reverse mortgage and it was a great experience. Everything went very smoothly with Liberty. The rates were a little higher, but I felt more comfortable with them. There was a lady I worked with, Leah, and she was nice. I liked her a lot.

Liberty is the company to go with for a reverse mortgage. I was referred to them and their process was great. Everybody was very helpful and on point, and I appreciated that. Everything was very professional.

The person that I was dealing with, Jim, was great. He answered every question, he went into detail, and he was very good at giving information and telling me what was gonna happen. I went back several times and asked questions and I was very pleased with his role and what he did. But then it seemed like every day or every week there was another package of paper that was coming and it seemed overwhelming. I kept going through step-by-step and I thought it was never gonna be over.

Every person I talked to at Liberty Reverse Mortgage had been well trained with people over the age of 40. There were times when I didn't understand what they were talking about or I couldn't understand what I read. Sometimes they're very busy, and it took half a day to a day to call me back. That's fine. But I always got a call back. I always got someone that not only knew what they were doing, had a sense of humor, said, “Oh, yeah. That can be confusing,” and say, “What it means is this.” The respectability, meaning they respect me, which is nice.

I contacted Liberty and they seemed very consumer-oriented. My experience with them was great. They were excellent. The woman who helped me through the mortgage process was wonderful. Marie, the person I originally talked to, was wonderful walking me through all the steps.

The refinance didn't turn out like we hoped, and we went through so many hoops. We've done the process once before, and I couldn't figure out why we had to do counseling because I was totally aware of what a reverse mortgage was since I was still on one. Still, that part was good. However, it seemed like at every turn there was something else. I thought the first appraisal was good because the guy had his wife with him and she was a realtor and she wrote down stuff. I thought, "Oh, man, this is gonna come in low. Women are always more picky than men." So I was surprised when the first appraisal came in at 286,000, but Liberty Reverse didn't like that because it was too high. They had another appraisal and I didn't enjoy the guy there. He was different. He did things the other one didn't and came back with a value of 248,000, and I had to get the house painted. His appraisal was more to Liberty's liking, so they took that one.

The process was fantastic. Everything went very smoothly, and communication was very easy. Everything was perfect for me.

We redid our reverse mortgage, and everything went great. Liberty made it very easy and we've been with them quite a while now and never experienced any problems. The communication with them was great. We were pleased with the new rate and terms as well. We did research and found out what the going things were and they were good.

When I called and talked to their rep, I was happy with what he was telling me and he worked with me. He answered all my questions and every time I called him, he got back to me within minutes. He actually cared. But the process was a long, drawn-out affair and I was frustrated with it a couple of times. I had to jump the hoops to keep moving forward with it. But we understood and did a little research in advance and we knew a little bit about what we were looking at. Also, I was surprised at how high it was to get an appraisal. I didn't agree with that. But I'd recommend Liberty.

The application and the process with Liberty were all good. They gave me a better deal out of all the ones I checked into. Their reps were very proficient and very good to work with. When we started, they told me process would take 60 days, and it went closer to 30 than 60. So, it was really good. There was a lot of paperwork, but all in all, it wasn't bad.

They came to me mostly during the process of obtaining the mortgage. I did it over the phone and then they sent people out to do the paperwork, so I didn't have to even leave house. I got a first mortgage and a second mortgage and it's been great. I have more money and I've been able to fix up the house. It has worked out really good for me. The only thing is the interest rate is kinda high, but that's not the fault of the mortgage company. Otherwise, it's been really nice.