Liberty Reverse Mortgage Reviews

Their rep was very helpful and acceptable. He was always a phone call away which made things a little easier. He kept in contact with us to make sure everything was running smoothly and that we were getting all the paperwork needed to be done to close out the reverse mortgage. He was always calling me to update me on the process and what was going on. The guidance we received from Liberty Home Equity was cool. They gave us a little phone tutorial in the beginning and asked us whatever question we weren’t completely clear with. They were thorough in making sure that we understood what was going on. The rates were fair and competitive so my mother and I were pleased. But they could shorten the time it takes for the money to be deposited into my mother’s account.

However, Liberty could do away with some of the paperwork. There was a ton of riffraff. Unfortunately, you should try to read it all which doesn’t always work out. The guy that worked with me was Erick over at Rancho Cordova, California. He was really good. He came by so I didn’t have to run around down to the office and he made it really convenient. He seemed to care and interested. He wanted to get it done and he covered everything. He followed it up and even came by after the loan insurance was secured to make sure it was straight. The loan officer answered all my questions as well. I started going through the process before, so I was pretty familiar with what was up. He really didn’t have to explain too much but he did a good job explaining what my concerns were. I’d recommend them.

I worked with Greg and Erica and the experience was good. It was like a 5-star performance and the process was complete in about 30 days. Erica really sat down with me and talked to me. She let me know what was going on, what to do, and how she is gonna work with me. She really built my trust for her and once she got my trust then everything fell in right. If something takes too long, they call me up and tell me what they're doing. And if any problem comes up, they also let me know. And so if anybody comes to me who actually has to do a reverse mortgage, I'll recommend Liberty because I know they'll give A1 service.

Paul was the loan representative that I dealt with and he was very good. He was in touch with me constantly and was consistent through the entire process. There were about three different people but the others were very difficult getting answers from. Also, there were problems and as things went wrong, it got rather upsetting. It took them awhile to find an appraiser. The appraiser came out the Friday after Thanksgiving and then he never filed the report. That went on and on and then finally, a second appraisal was ordered in January and the appraiser came out, did the appraisal but he didn’t file a report as well. Again, this went on and on.

But the guidance I received from Liberty was very good. The only thing that I wasn’t informed about was that there was a time limit on the state laws. If I had known when it was going to expire, I could have urged them to move faster because there really was a window of opportunity in which they could have closed the loan before that expired. I don’t think they noticed and they just dropped the ball. They did help me out by $6,000 that made up for some of the principal I lost but that still owes about $5,000 short of what I had expected.

Also, the rate was a little higher than I thought it would be. It was over 4.5 but my credit is not really good because I had to file a bankruptcy back in 2010. Liberty is a good company and Paul certainly was excellent to work with, but the whole process was so stressful. I applied in October and it was at the end of March before we closed. It became very difficult because it went on much longer than I had planned and then I was basically running out of money to pay bills and to buy food. It could have been done more timely and that would have been absolutely wonderful. Everything would have been okay.

The loan officers notified us when they could come and we agreed to the schedule. They came on time, went through the process, seemed knowledgeable and did what needed to be done. They explained what the options were, what the steps were in the process, and what the schedule would be. The rates appeared to be competitive and it was a rate I was comfortable with after doing the research on what was out there. Working with Liberty has relieved the stress getting rid of the debt and I'd recommend them. Liberty knows what they're doing. They work with you and they keep you informed.

However, I thought that the charges for the mortgage insurance were outrageous. We paid $8,000 for mortgage insurance and then, they're to charge 0.5% per month and I don't like that. I had a home equity loan before with PNC and I never got charged any insurance. But this is a reverse mortgage and some of them are making money off of me. But I got to do what I got to do when I'm strapped for money. I'm 77 years old who sold his business partially on a contract that went bankrupt and I lost $800,000 so that’s what we had to do. Other than that, the experience with Liberty was absolutely perfect and I don’t have to worry about paying bills.

The fellow we talked to was Ron and he was a very helpful man. We got along just fine and he answered any questions we had and gave us information, told us what was what. He was very congenial and we really liked him. From the time we started till we got the loan, the process took 30 days. He told us it could take 60 to 90 possibly, but we started in late February and by the 23rd of March, we signed the paper. Working with their team made us very comfortable. The ones we talked to couldn’t have been any nicer. They were really pleasant people to work with.

Their rates are too high, but it’s typical. From what we could’ve gotten a regular mortgage for, the rate was close to the same. The amount of percentage you have is high, but as years go by, it drops and averages out. There was probably a $2,000 or $3,000 difference in the closing costs on a regular mortgage and what this was. But the first few years of it surprised me with what I figured the average would be.

It took just about all we could get on the minimum to pay our bills. I still have a car payment, but there wasn’t enough for that. With Liberty, we got through all the rest of our bills and we’ve got a few dollars left, so I’m real pleased with it. I feel so much better about the process. If something were to happen to me, my wife will be able to stay here. It’s really eased both of us tremendously. I feel so much at peace because I know that she’s gonna be able to stay here in the home and be able to live here without having any problems. I’m very satisfied with Liberty.

The guidance that I received was good with what they had to work with. I’m not really sharp. If I asked the right questions I get the right answers but if I didn’t ask the right questions, it’s not good. For example, I got the initial payout and I know that we got some more to draw from but I didn't understand when or how it works. They should explain the payout processes better. They sent me a bunch of paperwork which I couldn’t understand. Also, I was a little disappointed with the rate of the reverse mortgage. But overall, I’ve been blessed working with Liberty.

I had all my paperwork to Mary within just a few days. Mary was very good. I knew exactly what she was talking about. I was able to get what she needed quickly and that worked. She really did a lot to get it through quickly. I was impressed with her honesty, integrity, and the willingness to help us out. It was very comfortable working with her.

I think we got a fair deal from Liberty and it's going to work out just fine for us. I would highly recommend Liberty to anybody else, including my friends. I would probably caution them about when we were told that we needed to get some paperwork, we needed to get it in and not just dally around. The company can’t do it for them. Also, I think having to go to the city's counseling session scares people off. But it was very helpful to me. It made me feel better about the process to make sure that I understood what I was doing. They weren’t grading me on my credit history or how I spent my money. And I think a lot of people think that’s what that is.

However, the application and underwriting process took much longer than I had anticipated. I ended up having to deal with three different people, which was confusing because it was new to me so I needed to make sure people would answer my questions as I was going down that line, but I did not quite get everything I needed from that. I could hardly get the appropriate people at the end. They need to improve on their communication. Also, the rate was not the best that I thought and I could have gotten better. I'm waiting to get all of my paperwork back from them to determine what's what. I would tell my friends to look at more than one reverse mortgage companies and see who would offer them the most. Also, they should get someone they can really depend on and say upfront that they'd want to deal with that person from the beginning to the end.

When I called Liberty's office, I asked for the loan officer who had been helpful before, but that person was no longer with the company. So I told them that I was well-informed about the program and I was looking for someone who can listen and react on point rather than just sell. And they referred me to a particular loan officer, and she was just what I needed. She was excellent, personable, and a good listener and she understood the communication, which was extremely helpful. The application process was tedious and it seemed that there was constantly something else being required. They should have all of the things needed to be listed instead. Other than that, I've had a totally satisfactory experience and I would recommend Liberty Home Equity to others if appropriate for their needs.

He also said there would be no big fee from the company but we paid you 3,000. But since we had already started it we don’t have to start the whole thing all over again. Thirty years ago I thought it was cool to have siding put on like a 45-degree angle to complement the house but then the water all ran down against the chimney and that got in there and kind of rotten things down over the years. Anything that is faced on the south that way took a really bad so we had to have that hole into the house made up. The only thing is we live in Forks, Washington and there’s nothing within 65 miles. Liberty looked and looked trying to find a contractor for our house but nobody wanted to come out because it was too far.

Finally, Liberty found a guy in Port Angeles and he wasn’t that busy so he came, looked at it and he said that he’d do the job. We waited for the go-ahead but he’s a small guy so he couldn’t afford to put the whole cost to that job. That slowed things down. But the Liberty gal that was handling this would check right back and I could reach her almost all the time on the phone that if I got through to her machine or somebody else there, I would always be called back within a day or the night. She was really good about keeping in touch and apologized because they can’t find anybody to work on the house.

There was a whole bunch of paperwork that I had to fill out and so, we went back and forth by email and fax to fill it out and then they check everything. The loan officer and I spoke on the phone and sent emails. And if the person that I was dealing with wasn’t available, there was someone else who was able to answer all my questions or gave me information that I needed, to fill out the next form or let me know what the next step was. There was a single person ultimately responsible, but there was a whole team of people available to me in helping me go through the process.

The rates and terms seemed fair enough. The ultimate goal for me was to not have the mortgage payments anymore. So, that frees up some money and there’s still some equity on the house. If God forbid something happens and I have to look for another loan somewhere, there’s still some movement there that I could go to. It was the right thing to do. Also now, I can start thinking about planning a nice vacation, which I’m going to, and maybe take one a year because now I’m able to take that money that I was paying a mortgage and put it aside. It’s a nice sum of money and I could afford to do a vacation every year instead of doing a staycation.

The loan was FHA backed, and it wasn't clear to me until later on in the process. I had to rebuild decks that were going to be torn down in order to qualify for the FHA backing. Now that the process is done, I can fully tear the decks down and rebuild them correctly. But those hoops that FHA put up to jump through were pretty tedious. The second fella from Liberty, James, was much more detail-oriented in helping me. Liberty team advised me on things and I was interactive between Casey and James. James was excellent. He had better communication skills than Casey. I felt very comfortable with the two people that I was in contact mostly. And if I had questions, I usually get a response not more than 24 hours and they were good responses from the people I worked with. However, the underwriters made my life hell, but that was their job.

The guidance that I got from Liberty was valuable in making my reverse mortgage decision. And the rate felt it was a little high, but then it's a reverse mortgage and it's not going to compete with an actual bank loan or a normal mortgage, so I understand that part. I’ve done it on a draw basis. So, as I need it, I can draw it as opposed to some of the other options. And that makes life easier because I don't want to be paying interest on money that I haven't borrowed yet. I'm glad to have that option. Now that the loan has settled in, I have a line of credit and it has given me more peace of mind.

And then the attorney for Liberty came by and had a lot of paperwork for me to sign. I'm used to government forms which carries a lot more paperwork than I had to sign. But Liberty's process was very easy for me to complete. So I signed all of those and understood everything that was on them. I asked a couple of questions and he adequately answered those for me.

When he went back, I got another call from the loan officer who kept me informed on the progress reports on how everything was going which I appreciated. If I had a question, it would take him at least one day to get back to me. And sometimes, it would be within the same day I contacted him which happened a couple of times already. He did the extra mile and was very dedicated to helping me in every way. I had a fire detector upstairs which came with the house. But I had to have one downstairs as well and I couldn’t afford one. So he brought one out and just gave it to me. He said he had some extras and so I was able to put that up before the inspector came by to take pictures of those detectors.

He also told me that the reverse mortgage closed on February the 9th this year and so I checked with my mortgage lender which was Mr. Cooper. Liberty checked with them to see if they had been paid and they did receive a check. And so that mortgage was paid off and now the first mortgage is in with the reverse mortgage now. This reverse mortgage has helped me to put away a lot of money. I'd recommend the loan officer to anybody that asked me about Liberty and who to contact. I felt very comfortable working with him. And I would say to my friends who are 62 or older to check out Liberty.

But the loan officer, Chris, from Liberty Home was very helpful. And in a couple occasions where he had to go to the underwriters to get a decision on something, they generally got back within a day or two. I had started another reverse mortgage with another company and because Chris helped me with my well share agreement and getting kind of closure on what I had to do on that, once I got the final quote from the other reverse mortgage company, I gave it to Chris and he came back and he was able to beat it so I was very happy with him.

The loan officer and the contact I had for them in California no longer works there, so it was hard to get in touch with anybody. When I tried to call them, nobody answers the phone and the only thing I could do was to leave a message. That's a very poor way of doing business. I had calls from the fellow in California a couple of times but then it was just email. There was a lady who finally called me from there and told me that they had received the doctor's letter I faxed, but that was the only person I had talked to since. It was like they don't exist and I had no confidence in them. But I went ahead with the signing with real investors, spent much time in this, and then we started all over again. Then because the rules changed by the end of October, we had lost about 30% of what we could get.

I've had very little counseling on the rates and terms from Liberty. They just handed the papers over and told us to sign them. And on the closing, there was a stack of paper that was an inch and a half thick that I had to sign. And I still have no idea how much we were gonna get. Then I kept getting mails from people who wanted me to buy mortgage insurance. I wouldn't recommend Liberty to anybody. But in their defense, I talked to Quicken Loans and I felt like I was being rushed.

I handled everything up to the signing with my uncle and then he signed all the papers. It was a long process, but they were very thorough so that didn’t bother me. Liberty made it convenient so I could be there with him during the time so they worked around my work schedule and his schedule so we could be there together. Working with them is going to be good for him ‘cause he’s going to feel more self-sufficient than depending on me to help him pay his bills. He’s going to like the fact that he can do it himself. We’re also very happy with the rate.

The only hiccup we had was the day we were going to sign because we had an ice storm. We had to put it off to later in the afternoon. Other than that, everybody fell into place. When they told us they were going to do something, they did it. And when they weren’t able to meet the deadline, they gave me a callback. So, they kept us abreast of everything going on. I've already recommended Liberty and I’ve also given others Greg’s number.

The process was relatively easy considering there was a couple of snafu because we were shopping. However, it took us a while to get the counseling because there was a run-on last year of everybody trying to get grandfathered in on the system prior to this year. It put a delay on things but that was okay. We contacted Liberty and they told us all of the steps that were needed. We had our information-gathering session where we had to get all of the papers - Our ID’s, our home insurance, policies and everything that they needed. We got those together and found a counselor, and we did our counseling class. We also got a certificate. Steve ran us through all the pit falls, certain delays and anything that we needed clarification for. I answered them and gave them clarification on whatever they had any concerns about until they were satisfied. It was a very smooth process.

I called New American Funding and they told me they could do a better deal. We wouldn’t have to pay for our own appraisal, they could credit that money back and they could minimize the closing cost. Once they told me all of the things that they could do, it superseded what was offered to me by Liberty. I called Steve from Liberty out of professional courtesy, and I wanted to see if they could meet it or beat it. He said, “Give me the information that they sent you or what they could do for you.” I sent it to him and they came back with an offer that was far superior and I got more money in that closing. My closing was going to be about 13,000 and it ended up about 8,000. Overall, I would tell others to make sure they shop around because not everything is clearly black and white. You want to make sure that the company you’re going with is reputable, they stand behind their words, and they live up to the expectations.

There was a lady who gave us her name and number, but she was a little hard to get a hold of. We kept trying every day and then finally, she told us she wasn't in the office for a few days. And then we talked to her and everything was fine. We signed the docs at the beginning of February but we started the process in October and we finished at the end of February. It should’ve gone faster. There were some weeks when it just dragged. So we called the lady and asked what was going on and she explained.

And at the end, there was another lady who called us and told us what was going on. And I like that because at least we knew they were doing something. The lady kept calling and kept saying what they were up to, when the end will be, and when we were going to sign the doc, which would be the last thing we'd be doing. Working with Liberty has helped me get a little bit of fund that is helping me out. The only thing is, we just got our first check and we got a letter at the end stating that they gave our loan to another company in Florida. Still, I would recommend Liberty.

Getting a reverse mortgage through Liberty Home Equity Solutions was alright, but their appraiser sucked. She walked the ground like she owned the place, had an attitude and lacked the knowledge of the area. She was from Appraisals by Casey at Greenwood, Indiana. Greenwood people don't know anything about the plain field area and it's a whole different county. I was told that the appraisers just call up and get a referral, but I would remove her from the list and I would prefer Liberty to use somebody in Hendricks County, where we are in, next time. But our loan officer, Ron, was friendly and knowledgeable, from the same area as ours and was a lot better than the appraiser.

I can either sell the house and have no place to live or move somewhere where it's less expensive, but my wife was having a problem with her sister's death and all of this. So with a reverse mortgage, we don't have to worry about it. They'll sell the house when we both die or we can give it to one of our kids that could afford to make the payment for what was left at 5% interest. The house was appraised for $330,000 and the cost came out $165,000 and minus the cost of $15,000.

The application process with Liberty was very good. A lady came out and we signed all the stuff and it took about an hour and we did it. There was a couple of mistakes made and we got it by UPS, and we signed and done that correctly and that was it. I also talked to the loan officer many times and she was great. She told me what to do and that there was gonna be an appraiser coming out and that was gonna cost $500.

The appraiser was a nice guy. He called me first when and he told me what he was looking for. I spent less than $2,000 to bring the house up the code and where he wanted it to be. Then when he came out, he was here for an hour and a half looking for everything, unlike other appraisers that I had who just walked through the house for five minutes and gave me an appraisal according to all of the other houses sold around. He appraised it for $330,000 and we were good to go. So I was pleased with everybody. Liberty has changed our lives and we have hope now. I didn't know that Social Security would take our check back and if we didn't have it, then they would come after us and take us to court. We lost a third of our income, but Liberty literally saved our lives.

I chose an independent agent closer to home and we tried to work through Liberty but they really perseverated on one issue that we couldn't give them an answer to satisfy them. And so finally, I just gave up after about five months because it just went on too long and it seemed irreconcilable. So then I tried a completely different firm. But they found something in the title so they chose not to refinance. So then I decided after a while to go back to Liberty and used a broker who works more directly with them. The first time I spoke with him was the end of April in 2017 and the reverse mortgage was just approved by the end of January, so it took all that time. And there were a whole lot of issues in between.

There were several things that I strongly opposed. One of them was that I have to have three appraisals. They couldn't use any of the ones that I had done previously for the other applications. When the first appraisals came in, they were not very satisfactory. One of them actually was picturing the wrong house. It was also very difficult for them to find comparison houses because these old hundred-year houses are unique. They said some of the stuff was just because it was an old farmhouse with not the usual "put-a-subdivision" issues.

One that I was very upset about, it involved a hole in a plaster ceiling and they insisted us a man come over. He came over and took a picture and walked out. And it cost $150. And it was the same picture that I had already sent them. So the work added up to the cost. So my closing cost was pretty high and it was a lot higher than I expected. But partly, it was the delay that caused the rate increased. But the final appraisal that they used was a little higher than the ones that I had started out with, so that was a good thing.

The interesting thing to me was, the one that really sank the whole first application, which was more than two years ago, it didn't even come up in this application process this second time with Liberty. But we got through it but there were a lot of errors and misinformation and they jumped to a lot of conclusions. The biggest problem was that I live in an old farmhouse in the east in Maine and it just didn't fit with a lot of their usual application process that we had to go through a lot more.

A lot of the problems I had were peculiar to my situation and they delayed a long time before they started acting on it. When I got a little irritated that's when they really started to pay attention to me and realized what was holding it up. They were slow to respond to some of the issues and dragged their feet. When they finally got working on it, it didn't take them that long. But they already had received the information. I sent it to them from the beginning. I wish they had put somebody on it earlier that could've answered some of the questions. It would've saved me a lot of grief and maybe money, too.

But they were always courteous. And the agent and I became friends over the summer. And once he got started on the process, he was pretty dogged in about getting it through for me. I also spoke with some more senior members of the staff. I also actually complained to FHA - the consumer division there. I also complained to some of my congresspeople, my senators and one of my representatives. By the time it got rolling and all these people took an interest, they had a big meeting about the whole thing and they finally approved it.

They've just paid off the things they were going to pay off and sent me my first check. I'm a life tenant and my daughter is a remainder person. I don't really exactly own the house but I have life tenancy until I die and then it goes directly to her. But the effect of that is that we both share the title to the house and she had adapted that. We didn't have the money to fight this debt at the time because I didn't get the reverse mortgage in time. So, that had to be paid off and now, with this sizable chunk of money, it has been a great relief for her to be able to do that.

Everything is difficult for me because I have some medical problems right now and I get confused very easily. We were very unhappy with the surveyor who came out here as he made lots of mistakes and undervalued things. I was in Southside when he came. He reported that things were not there that worked. I could have lost about several thousand dollars in what I could have had just because of his negligence. He said that there was a leak in the roof and although there was none, and I took off a lot of points for that. So, I have to follow that from my friend who is a bit of a financial wizard and who took over. I would have been absolutely overwhelmed even though it was not so hard. He also researched outright to the very letter and has caught quite a few snafus, and changes that needed to take place on the farm, and he reported everything.

There were other mistakes saying there were no vents in the house. If there were snakes, they would have bitten them. They were so apparent. In fact, my friend went through and took more photographs, and sent them in, and shared close-ups of things. So, it was a very inadequate and a poor job in doing the appraisal. They should take very careful account of the person who does auditing because it makes a big difference in the loan that they would give me when they gave a lower rating when I have the nicest condominiums here. But, for the most part, things seemed to have gone well and now I’m ready to deposit the money and act on it now.

They did come through with everything so far and there's a lot of work to be done, a lot of questions. One of the gals came out and went over everything with just the paperwork at home. Kent was also nice and he came out twice and we went over things very thoroughly. But then he just stopped calling too. We would email and call him but I guess he got occupied with what he is doing. They need to follow through as the woman did. Still, I would certainly recommend it.

Their staff was very helpful especially the first lady that I had most of the dealings with. Plus, their support people seemed to be available almost any time or they got back to me if they weren’t. They were concerned that I understood all parts of paperwork and answered questions too. Liberty did excellent, smooth job without pushing me or rushing me. I appreciated everything that they did and it has put me in a better position financially now. It was very relieving to have worked with them and have them be so successful at assisting me. If you are in the same position and you're shopping around, Liberty is good. I would recommend them.

We had a lot to go through. There’s the outrageously paperwork that I had to go through and I really got upset with them since they wanted my dad to sign. He can’t sign, that’s why I got the power of attorney to sign it for him. Then they said, “It’s for the documents” and I said he can't. I watched my dad struggle signing these papers and I said, “That’s not right.” So we tried to get the right documents for them and this and that and then they’d be like, “We need this too” and I go “Why didn’t you tell me that in the first place?” They should tell us what’s exactly and everything that they need to start the process so I can at least try and get what I can get for them. I’m the oldest, still working, taking care of my wife who’s battling brain cancer and got a special need child so I can’t be doing all of these. And my brothers have issues so everything is dumped on me.

But I’m glad it’s over. From beginning to end, it took about three to four months I think. We got what we need right now and the funds. I want to put it where my brothers have access to in case something happens because I told my brothers, “This is strictly for dad’s care, nothing else.” I asked Liberty to do direct deposit but they’re sending a check. But I would recommend this company. The people were very nice. The lady that we worked with was pleasant and knew her stuff. We had a couple of meetings and I like her knowledge. She always told me “Hey, I’m here for you.” There were some times it took a little bit to get back but she did. We like her.

I got my house fixed but when I got my paperwork, it said I owed Liberty $134,000 when I only got $23,000. So when I’m gone and if they decide to sell it, they could pay the loan back with whatever they say we owed and they would get the remaining balance of what we didn’t owe. I'd tell my friends to always check what it’s going to cost them in the end so they'd know what they're getting into.

But Thomas was very sensitive about it and apologetic about the situation. He would call us and check on us too. He even gave us his cell phone number so we could contact him with any questions that we had and was always willing to answer them. He was very good with it. Also, the original stuff that we filled out for the application was easy. It was just getting the loan itself that was ridiculous. The process was a nightmare. We started it back in August and we got our check the end of January. It took a long time.

We had signed the papers on a Friday and the guy came out and got everything done. But we got the voided check so they could put it into our account and they were supposed to do that on the Wednesday. But it didn't show up in the account then so I called them and they said my name was not on the check. That was something they could have told us on Friday. I was on the account but it was my husband's business thing so he doesn't have my name on this check. They said they would send me the check overnight because they had already printed it. I told them not to FedEx it without a signature because I was not having a check for $58,000 left on my front porch so I sat in my house all day Thursday waiting.

Finally, at 3:15 on Thursday afternoon, I called and asked where the check was, and they said they were overnighting it that day. So on Friday, I was having to wait all day again except I checked on the tracking number and saw that they put the check out on 3:25 on Thursday. I was talking to them when they sent that out. Working with them wasted a whole heck of a lot of time. But I don't think it was Liberty though. It was that bank. In the end, it was nice to get the money. We thought a reverse mortgage would be a good way to get some extra money and not have to pay a monthly payment. Now, we have paid off two cars and we've got some money left in the bank.

I checked a lot of reverse mortgage companies and Liberty was the only one that would credit all that back to us. Even so, we spent six months talking about it before we finally reached out to them and decided to do it. We listened to the good, the bad and the ugly about them. We ended up only paying $3,000 in closing cost. And although we realize that it's digging into our equity, that was okay for us because we're not making payments. Plus it wasn't a huge fee and if the time comes that we even decide we want to sell it, we can still do it.

The process was the same as in a normal loan. Had we just been on social security, the process would have been a whole lot easier. But we have income coming in now and they had to do all the checking as far as everything is in a normal loan. Also, I'm used to looking at all my fees ahead of time but when you do a refinance on FHA, you have three days after the loan to look at it. So they didn't have the figures ready until an hour before we closed. It was down to the wire and I did not care for that. Part of that was my fault though. We had to come up with cash because our house didn't appraise as much as it should have and I postponed the process quite a bit to make the decision whether we wanted to do it that way or not. I could also have waited another week to close but I wanted to get it done before we had another payment due.

They changed processors a couple of times. But my loan officer was wonderful. I could still call him now if I wanted to and ask him questions. My loan originator, Paul, was wonderful too. He was very patient with me. Every time I got a little nervous, wasn't sure about something or I couldn't remember something quite right, I would email or call him and he was right there to answer them or text me back.

The rate was higher than what I could have gotten if I had gone with a conventional mortgage and I still had to pay the PMI. But the interest rate went up a little bit also because we waited so long to do it. Besides, nobody hid anything. I went in it open-eyed and I made that decision based on the information I was given. The guidance they provided us was very clear and informed. They wanted to make sure I really understood what we were doing. In the end, the mortgage has given us some financial freedom we would not had otherwise. Without it, we would have worked until the day we die or had to sell our home. I wouldn't think twice about recommending Liberty.

I bought the house through Wells Fargo in 2010. When we went for the refinance, Wells Fargo wasn't handling such things anymore. Plus all the problems they were having didn't help. We looked around and we saw AIG but I really didn't like them. They just didn't bend, there was nothing that they would do to make it better. They had a guy come out to do the appraisal and he did a terrible job. I put a call and I checked online and found Liberty Home Equity Solutions.

With every reverse mortgage, you have to have a company that you deal with that tells you everything about it. You pay the fee of about $150 to be told about it and that's ridiculous to me because you should be able to be told about it and not have to pay a fee. The company then contacts you and gets all the information. But you have to be diligent yourself and you have to follow everything and be aware of everything. That's what I do.

We would not have had this mortgage if it wasn't for me because when the appraisal came through, the person at the other end kept telling me, "I don't think you're gonna have enough money. And obviously, we can't do it if you're not gonna get money." But I said to go through every single figure, correct everything and finalize the figures before they tell me what it was gonna be. And they went from 500 to $10,000. I ended up getting 10,773 when they were originally telling me that I might only get $500.

The man that was originally with us, Roger, was very good. He came over to the house several times. I would question things and he'd get back to me and he was very good. I had another guy who was in California and he would call, text and email me. But in the middle of it, he was gone so I dealt with four people until the end. Everybody did the best they could and they were polite and they were nice. But I did a lot of work on my end.

The problem with reverse mortgages is that the people selling them don't really know as much about the process as they should. In October, there was a change in the government policy on reverse mortgages and people were getting less money now from it than they used to. Roger was smart enough to have us do the application prior to that so he got us in under the wire and I thank him for that. He knew enough about it and he was an intelligent man. But there were times when I would ask why they didn't have or why they needed certain things from me and Roger didn't know. These were things within the company. They got things then someone lost it and I was left to wonder why I was being asked again.

I signed paperwork and I kept copies of everything. When they told me they didn't have a copy of a document I signed I just re-signed it and sent it back because I knew it was the same thing. But it was very tiring for me to do it all and I should be getting the commission. Their people should have one person on the case who would follow it all the way through. And they should have someone who knows and watches this stuff. It's fine with me because I'm flexible enough to work at it and my business background makes it simpler for me to handle most of it myself. I knew the process and I knew what was going on with it. But other people that don't know would get scared by things like that.

Other than those, everything is the way it should be. It is what it is rate-wise and I can't change that. I got more than I thought I was going to get and my husband was shocked when I told him about it. We were glad about that. And the closing cost went from $16,000 to $3900. Liberty seems to be a good company and I would recommend them to the right people. Their staff were also polite. I tell friends to use Liberty if they need to and I'd help them in any way I could. But I'd also tell Liberty to train their people better and they have to listen because that's what people don't do, they don't listen to what you're saying.

The only thing that kept us going was that FHA changed the rules and we really couldn’t do anything different. We started back on April 26th of 2017 and it was about October when that rule changed. It became imminent and we started to push it ahead at that point. But the problem was when they let the field people go, they weren’t prepared to have somebody in place that could take over. The ball got dropped several times and if weren’t for the change in the rules, we wouldn’t have been there anymore.

Other than that, Kelly kept it going even though she wasn’t working for them anymore because she still had a commission coming. We originally signed some disclosure papers on September 26th but we didn’t really push that hard until the rules changed. Everybody else didn’t follow through with what they said. When there was a problem, or if they needed something else, or if they thought they needed something else, we didn’t hear about it. Then, down the road we’d hear something about it so communication was poor after they let our loan processor go. All in all, I’d tell others to be hesitant in going with Liberty and to shop around. I would tell them that if they could get somebody that’s going to follow it all the way through, it'd be fine. But if it’s just going to be somebody in the office and out of state, I would do something else.

Another thing is, we got a hello letter weeks ago from the new company that said they had purchased our loan. But we never received a goodbye letter from Liberty so technically it has not transferred. And whether Liberty thinks it has or not, under federal law, it hasn't. I was an escrow agent before and we always explained it to people that if they sell your loan to somebody else, you're entitled to two things. One is a goodbye letter from the company that you signed up with and one is a hello letter from the new company. Until you get both of those, you don't change any of the things you do.

In the middle of it, they were telling me that it was going to close on a Monday. But that Monday was Martin Luther King’s Day and I didn’t even think about it. Their office and the title company were both closed so there was no way it could have closed on that date. We signed the papers at 8 o’clock in the morning on that Friday which is the 19th of January and it took until 4:30 that day for it to close. Again, I was making phone calls and trying to follow through to make sure they got everything. I was again not getting phone calls back. Then, Pete handed our account to somebody else at that point without notifying us. It’d be nice if somebody said he was going to take a vacation day and it would have been courteous per se.

Also, I would make a phone call to the underwriters and I wouldn’t get a phone call back. I eventually had to call my representative and he made a phone call. I finally got a phone call back to find out where we were because I sent them documents and they turned around and requested the same document again. They also kept requiring something different everyday which they could have asked for ahead of time. But it was not a problem. We’re the type of people that follow through immediately and if we were asked for something, they had it within about four hours.

The very last thing that drove me crazy was we pulled funds out of our Simple IRA to finalize the whole thing. The first amount I was given was wrong and they told me I could go ahead and get a cashier’s check. But if I had, I would have gotten a wrong amount. So they shouldn't supply me with an amount if they didn't know that it was going to be true.

Then, I had to prove where the funds came from so I sent them a copy of our bank transactions. Our bank received it from Schwab and it was setup right on there. I know that they were worried about money laundering and they came back telling me that they needed to have the monthly statement from Schwab showing that it came from Schwab. But this was in the middle of January and Schwab was not going to issue a monthly statement until the end of the month. At one point, I even had to go to my bank and get a print out of my January monthly transactions from my own account which I had already sent them. But I wasn't allowed to, so it was very frustrating until the very end. The whole process was completed in about six weeks and working with Liberty cost me a lot of stress. But now things are working out fine. I would recommend them and our agent.

From the application to the underwriting that took at least two months and I wish it could have been done faster. Near the end, I got tired of it. I'm also not crazy about the rates and terms of the mortgage, but I know that I have to make sacrifices if I'm doing a reverse mortgage. Right now, I put away the same amount as my mortgage payment as a travel fund when I retire. It’s not impacting me immediately except for knowing that I have that money coming up for when I quit my job and to have some fun.

Kelly, who helped me, is excellent. She explained stuff. Until finally she walked in and she looked at me and she said, "You are approved." She just had a way with people. She has a way of talking. And I had a friend that was here with me said, "I can't get over this lady." I felt very comfortable with her. Liberty Home improved my life. I have some money when I need it. I'm very pleased and happy that I was able to get this because my home is paid for. The value of the home here in Arizona just keeps going up and up right now. I already recommended them to my neighbor. In fact I'm going to talk to my sister about this.

Other than that, the loan officer, Roger, was super good. I've talked to him a million times, and he was very concerned and courteous, and he answered any question I wanted. Anytime I thought I had a problem, I would call him. After the loan was finalized, for some reason, they sold a note to somebody in Florida. And so, I called him right away about it and he told me not to worry because all my dealings still would go through them. And it eased my mind a little bit. I was very comfortable working with him. He was very honest and can pull any punches. He explained to me everything that was going on. He also apologized when it has taken too damn long to do some of the stuff. He said, "Hang in there. We'll get it all done right." So it's all that mattered.

I read all the documents over and over, and from what I understood, if I ball money after the 210,000 that I have, then I pay 4.5%. But if I don't ball any of the money off there, then they pay me 270,000 some dollars. They're paying me the interest of 4.25%. So I'm breaking even except for the $18,000 that I had to pay upfront to get the damn loan. I would recommend Liberty. They were sincere about trying to get the process done right. They did a good job and I was very happy with them.

Eric walked me through everything. He explained everything and if I had any questions, all I had to do is give him a call and he took care of business. He was eager, informative, and he got back to me when he said he was going to back to me. In fact, he contacted me more times than anybody else probably would have. He was constantly in contact with me and he didn't push anything. I had done the first reverse mortgage with him. I kept getting information in the mail from other places that I could qualify for $20,000. Then I got a handwritten note from him that said my interest rate would be going up if I wanted to take advantage of doing a refi on it. Instead of having 20,000 in my line of credit, there's 73,000 now.

The reverse mortgage is better than trying to put money in the bank and save money and earn interest. It's easy getting the money out. All I had to do is fill out a paper. But I would call ahead of time and tell him we'd be faxing in a form to withdraw some money. The interest rate was great. If I just let it ride for a little bit, I can end up having a monthly payment if I want to. So, it has worked out good. Getting the reverse mortgage with Liberty made my life a lot better and a lot easier to obtain some money to do things to my house and my property, and my general lifestyle. I wouldn't have to go back to work per se if I wanted to. But I have a part-time job that pays well. There's money sticking in the bank for when I become an old man. I'm satisfied with Liberty. I've sent several people to them. And I explained to them how it works for me and told them to talk to Eric from Liberty.

Then I was transferred to different people which was frustrating because the reason I chose their company was because of the first person I've talked to. And it didn't seem like any of the information I shared with the first person got transferred to them so there was a lot of confusion. I would call and leave messages to the other officers, but they wouldn't be returned promptly. Then they would say that they called. And then there were a lot of emails back and forth. The whole process started to get bogged down. By then, the process had already been so far along. I just didn't want to delay it any further because my mother needed the money. They could have been more responsive and had things accomplished a lot quicker than they did.

Once I took over the finances to get everything come back up to the point where she was getting her bills paid on time, as well as for food and medicine, Liberty started requiring a bunch of different caveat, signed for the loan to get it to come to fruition. So, it took a lot longer than what I was initially quoted. They sent a notary out that I could do everything in the home, which was nice. The rate ended up being around 5.5% which in any home loan, would be high. But given my mom's credit rating, that was decent. So far, my mother got her taxes, insurance and the bulk of her bills at least paid back if not paid off. Financially, she's pretty solid right now.

The application was very confusing because there were tons of pages with little explanation. They sent me a copy of it later, however nobody reads that stuff when it's 60 pages deep. And I've been a secretary my whole life, so I'm very thorough and I trusted the process and the papers. It was normal procedure. Laurie should have kicked out the little old man who was there talking the whole process, he wasn't leaving and it wasn't a private affair. It would have been really great. But the process was rushed. I got lost getting there and because the law was changing, they were back to back with appointments which caused some confusion. Still, Laurie's assistant, Brenda, was topnotch. She called me from the car and I told her I was lost on the way to the post office trying to get some overnight priority mail over to them and I was going to miss the deadline. And she was driving home and pulled over and helped me get to the post office.

Liberty is a great company and we started the process out great and then it just unraveled because of them closing their office in Irvine. And then I was dealing with James, a loan processor who was in Sacramento, and I was thankful for he saved my loan, it was a positive experience then. It was just hard to do long distance. It was supposed to be a quick thing to close, but it went from 30 to 45 days. We started on September 20th and we closed at the end of January. And it should have closed long before Christmas. And I answered a billion questions and they lost some of the papers that were supposedly on the computer and they lost papers that I had submitted. They photocopied my original documents when they laid off everybody in the Irvine Office.

James walked me through everything and he was totally responsive. He called and emailed me, and was in constant communication with me. But after Laurie was no longer on my account, she called my brother and was willing to help even though she wasn't employed there. And I had to tell my brother not to talk to someone who's no longer an employee. So, it was very upsetting to me, and yet the manager of the loan processor called me, again on my home phone which was alarming and said, "This is the number I had." I didn't feel like they really took care of me when the transition was happening, but James came in and held my hand through the whole thing and went above and beyond many times.

I would give James a $10,000 a month raise if I could. He was my lifeline with the company and he was instrumental in the whole loan coming to fruition. It was kind of confusing because I had people who weren't working there offering to help me. And he told me once that I'm the age of his parents. And while I felt old, because of that, he took me under his wing and spent extra time explaining everything. He also told me he had been on my loan application from day one. So, he already was informed, which helped tremendously. But it still was very confusing. There were lots of hoops to jump through that probably shouldn't have happened if they hadn't lost some of the papers. It was a nightmare. And, I'm still tired from the whole thing.

It is not really truly a great product and if it weren't for Laurie Libby's sitting down with my brother-in-law who's a CPA and I, over lunch for those couple of hours, months before, I would never have done it. I would never have trusted the process but I trusted her personally. She was upfront with all the answers and my brother-in-law is a brilliant financial guy, and he was impressed with the product itself. Then later, he gave me other companies who do the same thing, and with the highest consumer report rating.

The company let me down, but James didn't. The circumstances might be out of their control but they really dropped the ball a few times and we had four months of hiccups. But James wouldn't take "No" for an answer. He took my situation and the extenuating circumstances and went to the underwriters, and their bosses and went up the ladder and fought for me until we got the impounds released. They did not withhold like a ton of money for 16 years' worth of impounds. So, it was a huge win for me personally. And I'm driving a 19-year-old car, so I desperately need some money to get me another car. And because he fought for me, I can now get a car. He had a heart for me.

The outcome was marvelous. And I couldn't have asked for a better company to start with but the middle was just jello. It was like the left hand didn't know what the right hand was doing. They lost documents and it changed the process for me because those documents eventually changed and then it didn't prove what I needed to prove. So, we recreated the wheel and I couldn't thank James enough.

I contacted somebody whose information I knew about. Then, they sent out a whole bunch of papers and gave me an estimate of what I can do. I then went through the counseling. Their loan officers were very nice and reasonably knowledgeable. There were two of them. One took the initial part, then, once we made the application, another person, the cream of the crop, came aboard and just walked us all the way through. We did everything long distance via phone while there was UPS. I was comfortable working with them and they gave me enough guidance. Moreover, they weren't pushy and I could have backed out at any point.

The rate is as good as I'm going to get. It was all controlled by the statute and they had regulations that don't give them a lot of wiggle room, so they can't just bilk seniors of their assets. We trouble getting our property appraised since we live in a rural area. There are very few appraisers who were certified to do hard appraisals. It was a big delay. By the time we got it appraised, the property was worth $35,000 more than I had estimated so we got quite a bit more money. We met with the mobile notaries, once for the application and once for the closing. Lo and behold, the first request of money was deposited electronically into my account. I've already paid off the bills that I wanted to and I freed up my monthly budget a little bit better giving me a bit less to worry about.

They haven't yet sent information about how I can access my line of credit. For the rest of my assets, I have taken a line of credit so I can use it as I need. The idea was to use it for things like medical expenses and other things. We have children who live in other parts of the country and we really can't fit airline tickets into our budget. We can also use our line of credit to get the tickets. I'd tell friends to take a look at Liberty.

Also whenever I called the loan officer was barely there, maybe like 3 out of 10 times that I had reached him. And every time I talked to him he said he got to take the records. And then there was always some little detail that didn't seem important to me but it's just got to be done. But I did all the work and finally got it done. The company has always been good to me but they didn't follow through with finding out if something was going wrong here. Like why it took from August to February. But finally I got a hold of the person that helped me get the first reverse mortgage and she said there's a hell of a lot going on that shouldn't happen.

So it finally came through and I did got my refinance done. But I'm not quite sure if I could've done better because I ended up giving my monthly settlement. And then from what I understand my house was worth more than what they appraised went because Yakima is really a prosperous city because it's half of the whole state. And there's a lot of businesses coming in here, a lot of buildings and new businesses coming. And then the price of real estate has gone up as far as the national average.

We talked with Liberty Home on the phone first and then when we decided to do it. They came in the house and they sent a notary to the house. The whole process was not very long. In about five weeks it was done. It took us about that long because we couldn't decide exactly what we wanted to do. They treated me real good and I would recommend them. They're a good company.

Greg was my rep and he was always there. Whenever anything came up, he called and talked to me. He made me understand everything and he did his best to answer my questions. He was really helpful and I felt comfortable with him. The whole process took three months but it went well. There was a lot of paperwork that has to be done. It was all mailing papers back and forth and going step by step. They then arranged for a person to bring the papers out, go through the whole thing page by page, and sign all the paperwork. Once the papers were signed, everything was a matter of days. Everything went the way according to what they said. This mortgage has helped me. I'm retired and I got every bit of saving I have into building my home. As I keep finding out about reverse mortgages and how they work, I'm satisfied. I would recommend Liberty.

While I thought we had everything done, I knew why I got behind. It's over the holiday so a lot of people were off. But when I needed them, Randy always told me he's going to be out of the office for a number of days. I just knew where they were. So I had no unreasonable expectation because they let me know in advance and that's important. The only problem I had was the underwriters asking me the same information about three times. It’s as if they have never ever been there before. And that is the one thing. It’s not the personnel that I spoke with. It was whatever the underwriting process was. It seems the people just didn’t want to have to look for something so they asked me to send it again.

Also, the closing cost was too high. $11,000 on an $80,000 loan. But I accepted it because of the service I got from Randy and Peggy. I was not going to mess with those other ones that never called me, treated me like I didn’t exist, and could never say my name properly. In addition, I use my phone as my recording device. When you’re counting someone’s content in their home after their house has suffered a fire, a flood, or a tornado, you have to go through every drawer and everything in that home. You can’t stop in the middle of doing that and have to shut down that recording and receive a phone call. So I would schedule it.

When I spoke with Randy and Peggy, we scheduled those calls. They were really good about that. We made a plan. We kept good with phone calls and the emails just went so naturally. It was all so pleasant because they really cared. And because I was still trying to do this without my abusive husband from knowing what I was doing, they really took the heart - my fear and panic - that a lot of people would not have. It's because I had to get him involved in the process that has to do with the HUD rules even though he’s never been on this property. It's mine long before I ever met him. Overall, working with Liberty Home Equity Solutions has impacted my life very positively. I already recommended them.

They were only made to do to help keep the loan going forward. They would tell me what I needed to do. I would do it and then everything just proceeded the way I say it. There were a lot of things to get together but it all turned out good. Everybody was great to work with and treated me nice. I knew if I needed any kind of question and answer all I had to do is contact them. It was a good process from beginning to end. I had more contact Richard than any of them and he was a good person to work with. He was really cordial and understanding and treated me real nice. I liked him.

I'm 82 years old and I don't need a lot of stress and strain. And having that bills to pay was one thing. If I got behind on them that bothered me. Getting this reverse mortgage took a load off of my shoulders. I'm able to sleep at night now and I wake up feeling good. I don't have those things burying on my mind. I don't feel like the same person. Everything was taken care of. I'm in good shape and I appreciate what Liberty did for me.

The agent also knew what she was talking about. She managed to take care of all my issues and helped me sort out some questions that I had. If she didn't know the answer, she would tell me and she would go and find it out. So I got more and more comfortable working with her. The entire process took three months, which included a two-week delay since I didn't have some of the requirements they were asking for and I had to wait for them to get mailed. I wish their home office was a little more open, but Liberty was fine to work with. Go for them.

My rep was very nice and he answered all of my questions patiently. He got together with me and explained everything in good and realistic detail. Everything he told me was also backed up by paperwork I got or looked up online. I also liked that he did not try to build up the strengths too much or downplay the weaknesses. Liberty sent me long detail forms that were very tough to figure out and I frequently have to go to him to get the answers. He did most of the work and I really liked him. But there was one thing that wasn’t clear that the loan officer hadn’t announced ahead of time and came as a little bit of surprise. I had a plan to pay off the closing cost so I did not get charged for interest but he told me that if I did that, it would immediately close out the whole loan. I really couldn’t find a reference to that and I had to take his word for it. Other than that, i would tell others to go for a reverse mortgage with Liberty. It's a worthwhile thing to have.

I received really good guidance from Liberty. We selected the HUD out of several that were there and we had an interview for that over the phone. The rep asked me what we wanted and we told her. Then, we dealt with two other girls in their office. One was in charge of the mortgage while the other one was like Randy and who followed through with it. Liberty had excellent rates and terms on the reverse mortgage I got. Once everything went through, we had a little glitch because we sent all of our paperwork in and the house was in my name and my husband’s. Liberty needed a death certificate from my mother and my brother as they were in the house originally. So we sent them copies of their death certificates.

The application process went quickly when I gave them everything they wanted. It was very easy and it took about six weeks. We closed in January when we were supposed to close until sometime in February. Also, it was the most personable loan that we’ve ever gotten. Everything worked out really good. Liberty even sent envelopes if they needed the paperwork. They sent them via FedEx so we didn’t have to do anything. Working with Liberty helped us get back on track again and it took a big burden off of us. As long as you comply with what they were asking for, it would be a very smooth journey to get your loan with Liberty.

I had two reps, the first one they got rid of because they downsized. The second one was just as helpful as the first one. I was comfortable with him and I never had a problem talking to him. I like his willingness to put up with the questions I assumed were stupid. He never put me down and that impressed me the most. I just started reading into their terms and rates and I'm going to have to study it more. But they were able to explain that to me. I also did a counseling session with them, which was informative and enlightening. I have felt more relaxed since I started working with Liberty and I wouldn't be afraid to tell everybody to check them out.

However, had I been able to get everything together sooner, I could have beaten the deadline and the terms would have been a little better, but it doesn't matter much. I plan to take some money out just for home improvement. It'd be a long time before I need any of it for living expenses to help support my dependents. It all went very easily at my slow pace, and it is done and I am very satisfied.

We made the deadline before October 2nd and then, it took three months to process, which was what I thought would happen because they had to send out somebody to do an appraisal. The loan officer was great. He answered all of my questions and did everything that I asked. The guidance I got was very good. They were very clear about everything and made sure that I understood it, which I did. I wanted a safety net if I ever needed the money since I didn't want to sell my home and I got exactly what I needed. I had a good experience and I would certainly recommend them.

I worked with a couple of lending officers and they were both accommodating. Anytime I had a question, they answered it or tried to. And they stayed on top of it and kept me informed about what was going on. He was easy to deal with and didn't avoid any questions. They were good and I'd give them both high marks. Also, they were honest and they were doing what they're supposed to do.

Liberty gave me a lot of paperwork, numbers and projections. And they were good about showing me what happens with the reverse mortgage and all the information associated with it. The rates are fine but I thought it was expensive to do. But they did have a lot of stuff in like with the mortgage insurance and that's a federal thing. And so, there wasn't really a whole lot Liberty could do anything about that. Overall, Liberty achieved the goal of getting a reverse mortgage done. They did a good job at that. I am happy.

On the other hand, the notary came out and she had me sign all the papers, but she called me back and told me that I had to do it all over again because they said that they won't approve my signature. They said that I spelled my name just like the doctors write their signature and they couldn't read out the letters. They wanted me to write my signature out and sign up the whole way so, they made me redo it all over again. I disagreed with that and I didn't sign my name. The application process took a little while because I had to go back and forth. Those people gave me a lot of problems and I got frustrated, but Eric kept me calm and told me not to worry about it and he'd take care of it. I would prefer him than anybody and I would give other people his number.

Not being totally informed is what I don't like to be. I like to know what's coming and that I can make the best decision. The way it works out is okay. I wanted to do a lot of overhaul on the house and invested all that money in the house, which is quite a bit less than what I had intended. So in some way Liberty has put some limits on me that I didn’t expect. A reverse mortgage was the best option.

My son and his wife were very apprehensive about it. They've heard so many negative stories. In fact, my daughter-in-law works at an insurance company. Some guy from a bank came and talked to my son about reverse mortgage and told him how bad it was and people were losing their homes. I told him that was from a guy who doesn't know anything about it and works for a bank. He doesn't want them to get a reverse mortgage. He wants them to go to the bank and get one from them. And Cathy was so good and sent them information because they were afraid that I was going to lose my home and everything. She put their minds at ease.

We had a couple of hiccups, but it was all-hands-on-deck to get it done. Cathy was able to e-mail me and communicated with me directly. Everyone stayed in communication with everyone and we were always kept in the loop. Everyone was great, from their underwriters to the processors. They were always available and they worked after hours, sometimes on weekends. They explained everything so well and they were great working especially with elderly people. Their teamwork was amazing and I would recommend them.

When my daughter died, I had no one to leave my farm to. Some people said not to do a reverse mortgage as it was a bad deal. I asked Eric about that and he gave it to me straight, and I felt confident enough. People ask me all the time about my reverse mortgage experience. I told my attorney about it and she is now a fan of Liberty. I'd tell anyone who asks that they should call Liberty and to deal with Eric. If you deal with him, you will not get screwed. I even sent a letter to the president of Liberty who called me and said, “I really appreciated the letter and yes, Eric’s a good guy.”

We started in September and closed the loan in the latter part of December. Getting a reverse mortgage counselor took some time since there were some laws and rules that were changing. Also, there was a high demand on those counselors and you couldn't find one. It was a slower process after we got that done. A reverse mortgage may take slower to do than just a regular conventional mortgage. So I would tell a friend to be patient because it's going to take some time to do it. And even though some improvements can still be made, overall, we had a good experience. The end result was good.

They had me working on a timeframe. I could’ve waited and had some work done after the salesman’s date ran out. It wouldn’t have affected me at all, but it affected him. I was trying to be good to him, so I went ahead and had an appraisal when all the internal work in my house was done. That ended up costing me and I got a lower appraisal. The loan officer I worked with answered almost every question I asked. If he didn’t know the answer, he’d find it for me. This made me feel good. He works fairly hard on my behalf and he also helped me find people who would do some work on my home to get a better pricing.

The loan officer was very courteous and he called me quite often to advise me as to the procedures and what was going to happen and who would be taking care of the loan once he got done with the preliminary stages of the loan. Then, he explained that it would be passed to another agent. We were pretty much on a first name basis. He would call me sometimes up to two or three times a day. And if he didn’t call me, I would call him. Everything went well with Liberty Home and I’m happy. I’m satisfied with everything that took place and how I received the money. However, the payback option needed to be explained a little deeper or further. Everyone involved was very courteous and informative. They were ready to answer any questions that I had.

That point was rather unpleasant but William was very knowledgeable and helpful during the whole time. He was the one who was able to get the loan processed properly and he was always there when I called him for some information. We also never had to go up in the office to do the business. He always came down here at our convenience. The way William conducted business was much more professional compared to another person who also wanted us to get a loan through them but wanted everything by email, and we don't have that capability. I enjoyed doing business with William and I would recommend him.

I was comfortable with her. She repeated information that she thought that I needed to hear. It was almost like she had my back. I have post-traumatic stress and communicating with me sometimes might be slightly difficult because I may forget things. But when I dealt with Cindy and also another young lady who was helping, they went over things right in the middle of the conversation. They reminded me of certain things and they were a little bit more detailed. I would get Cindy on the phone and introduce her to my friends who will ask about Liberty.

A friend of mine had gone through Liberty Home Equity Solutions for her reverse mortgage and she had a very good experience. She was happy with her loan officer, Gary. So, I let her do all the footwork, took advantage of it, and dealt straight with Gary. He was excellent, very knowledgeable, very calm and wonderful about explaining everything. He was also honest and had my best interest at heart. When you’re ignorant about those things, you have to trust who you’re working with to do the right thing by you and I felt like he did. He was also eager to call and answer any of my questions. I scanned and mailed to him some paperwork but it didn’t have Liberty Mutual, their parent company, on it, and he immediately answered me back. He was always quick to answer any email or call that I had and I would recommend him to anybody.

The process took almost three months which is long and took longer than I had anticipated since mortgages for houses normally don’t take three months. But they were overloaded with people trying to get in under the wires because of a change in January the first. Also, they didn’t respond in a timely manner on some issues. But the mortgage got done and I’m happy in going down the road with it.

She was great, very professional, prompt, courteous and helpful. She answered all my questions and if she couldn’t, she would research it and get back to me. Anytime I needed to reach her, I could. If we set up conference calls, she was more than willing to do that. I had an excellent experience working with her. With them, everything was very easy to deal with. I was a little bit apprehensive about dealing with somebody who was distant as I had some people here in town that do reverse mortgages. However, everything was overnight. I can e-mail things for signatures. They sent a notary over for me to sign off and they made it just as easy as dealing with somebody local.

Their guidance was spot on though. They were in touch and kept us informed. They talked about what the process was, what they were doing, what they had to do on their end, and what I had to do on my end. They handled that very well. But we all think our house is worth more than what the appraisal came out to be. Eventually the decision ended in not taking the loan out because there was some doubt especially on my part about once the appraisal came in. Despite that, I would tell others to talk to Liberty and see what the company has to offer. Liberty could be one of their choices.

Long before we put in for it he said depending on what the equity was, would depend how much money I had to come up. We were targeting $250,000. It was all based on the appraisal of the house and in September I opened up the paper and it said that the rules would change in October 2nd. I called him up September 3rd. He got right on the ball and we were grandfathered in and certified with HUD by September 30th. He made it all possible.

I needed time to work on the house, and once we qualified and got a certification they had called up for somebody to come and appraise it. And I called Ron up and I said, “I really need more time to work on this.” He gave me all the time I needed. Because I repainted the outside of the house and did some fixing inside the house he put no pressure on me to get it done. The appraisal came in at $250,000. There was a deal where I didn’t realize my deck was part of the appraisal and it was peeling so he got me lower finance charges to hold back $800 so I'm going to get the deck fixed - which I’ve done and then I called him up the other day. I wanted to know about the inspectors. He emailed be back the number to get a hold of and an identification number to give them. So within 3 to 5 days I’ll get the inspection on my deck and get the funds released.

I knew Liberty Mutual was a good company and ultimately, I started talking to Donnell. I felt like it was a good match and he was very patient and knowledgeable. He was understanding when I would get frustrated or concerned about something and he would listen carefully. He never seemed to be in a hurry like he had any other clients, which I knew he did. During the process, the government changed their requirement so they also had to push a lot of loans through at that time. In fact, that was one point when he was really good.

I had told him I was going through a medical thing, which is still ongoing, and I wanted a break from doing anything. He said it was fine but a little while later, he got back to me and said the government was changing their minds on what the requirements are and I wouldn't fit into the mold if we didn't get the application in by whatever the date was. He said it was important that I knew that. He was good about communicating even when I said I didn't really want to continue and I appreciated that. I would have felt badly if the time had passed and I had not been able to do that. That was probably part of his job but it felt like it was something he would do anyway. He was the kind of person who would look out for you. He kept in touch with me and treated me like a human being, not just an account. It worked out to be a good experience for me.

The woman who came out for the appraisal was very knowledgeable and friendly. In the course of our conversation, she mentioned she'd been doing it for 20-some odd years. She was quick and knew what she needed to do. She came in and did her job without wasting a lot of time. She was also from the area so she was knowledgeable about what the prices were around here, so I had confidence in that.

There were a lot of things involved to get all the ends tied up and coordinate with what the requirements were from HUD. We had a good four months and that was reasonable time especially with the crunch that the company was put under because of the government's change in their requirements. I imagine they had a lot more people to deal with than they normally would. The process began in August and the payoff on the loan was December 12. But because the payoff figure is always further out than they expect to actually have the paperwork signed, I'm still waiting for a check from the bank for the final payoff on the loan. Other than that, I definitely would recommend Liberty and Donnell.

Also, there were a lot of ridiculous things I had to write. For instance, my mortgage payment went down from last year. We get our social security checks on the fourth Wednesday and that’s when I pay my mortgage. Sometimes, it was a week or a few days early, and so, over the course of the year, the following year, the mortgage payment becomes a little bit less. I had them write a letter of explanation by an underwriter wanting to know why it went down, and if these were late charges. This process went on forever. And then, we had the evaluation and it came in good. Fortunately for us, they found mold in the basement, which we didn’t know was there. So, we asked Lorraine to clean up and to be paid on the closing date. But then, even as the mold company said he’s never had so much trouble because of the wording. They were going to be paid at closing, and they had to be worded a certain way.

I have sent the mortgage statements and homeowner policy proof three times. I had put a hold on the credit agencies because Liberty was hacked, and I did that after they got the initial credit report. Now, because the process took long, they needed another credit report, even though it was only a couple of weeks later. I had to take the stop off so they could view it. We could have closed within 30 days with other companies. Liberty originally said it would take 60 to 90 days, which wasn’t an issue, but the redundancy is. Also, it seemed to me that it was obsessive dealing with not just one person from the beginning. And nobody told me they needed a license with a picture on it. I misplaced my current license and I had the one that expired on September. They wouldn’t take that one, even though it had my picture on it. I had to go to Motor Vehicle and fax it to them; all kinds of ridiculous little stuff, that was annoying.

Never having gone with the process before, I never expected all of this. And then in the middle of it, I got a call from some strange guy that I could hardly understand. He wanted me on the phone with my bank. Nobody told me this guy was going to call so I assumed this was a scam and a fraudulent call. Fortunately, the bank refused to talk to them. Then I found out that that was real. Liberty could have been more informative. Overall, it was stressful having to wait all that time, and not knowing if it was going to go through, and that did not make me too happy. Though I’m satisfied with the amount of money, the process was too long.

I could have done it with other funds because I have very excellent credit but I had no choice. I got the guidance mostly from Marty. He was upfront with everything and honest. He was the one that did all the work. Liberty was a little slow on the foot and they could be a little swifter. It was very annoying and very frustrating because I started out sometime in September but I didn't get the loan until December. They should have been a little faster in researching of why certain things weren't taken off the record and I had to wait. They would pass the buck to someone else to do this research so they can get it done.

I would tell others to make sure everything is explained well to them no matter who it is, although I would refer them to the loan officer that I had. They should not rush it to a point where you want to get the money and not know much how it's going to come out and make sure that your family knows how to handle it if something happens to you, to let them know how it's going to go about.

At first, Suzzane was going to try a leaser but she couldn’t do that because there was a very large amount that she would have had to pay, and she didn’t have the money so she went with the conventional as that was the one she was able to qualify for. The only thing that we had regretted was that as of October 2nd, it had changed the rules. If we had done this before October 2nd, it would have come out a little bit better.

I liked Liberty's terms and the gentleman that I dealt with, Thomas, kept up with me and stayed in contact. It was a long drawn out process and it wasn't quite as easy as I thought it was going to be, but at the end, it turned out okay. Their guidance was good. I had most of the answers to some questions and I've been happy with all the information and help. It worked out well for us and I was satisfied with their process, handling and outcome.

My Liberty loan officer, Frank, came to my home. He is 80-some years old and a retired banker. He was very nice and informative. He sat down with me for a good couple of hours and went over every complete single detail of what was involved. I had good guidance and he was absolutely wonderful. He guided me through the whole thing. He brought the person where I had to sign the papers for closing and I didn't have to go anywhere. He came to me every time. I scanned things for him and sent it to them or emailed them, then talked on the phone with them several times. He would call me to check up on me, which was really nice. He's a total pro.

There are a few things that I still don’t like about a reversed mortgage but I didn't have any choice. The closing costs are absolutely outrageous. I also don't like the idea that the government is involved. And even though I stay in my house, I still don't feel it's my house anymore. I can live here until I die or can't take care of myself anymore but it's their house. But that's not Liberty's fault. It's the way the rules are. It was a great experience with Liberty and I would recommend them especially if they have someone like Frank.

On the other hand, there was a problem with the regulations. The regulation says that I cannot even start the application process until the certificate of occupancy has been issued. The certificate of occupancy is generally issued by the municipality or county which the home is located, and that is not issued until the home has been established to be habitable. I got to sit for six to eight weeks while the home is completed and ready to occupy and the purchaser is ready to close, but I can’t start the process until the CO is issued. So, in our case, we needed to close on a cash purchase of the home, and then start the Hingham process at that point, which took us 45 days.

In addition, my wife and I had three banks that we bank with. At the time of application, we had sold our prior home and money’s in the bank, waiting to close on the purchase of a new home. Liberty asked for all the pages of the bank statements so, we showed the bank statements that are pertinent. Page 1 contains the summary of events and on page 2, it might show the in and out of funds. Pages 3 to 6 are boilerplate disclosures that contain no substance. I threw them away but Liberty wanted all the pages and pestered me with those kinds of things. My money in the bank has nothing to do with whether or not I’m qualified for Hingham. They need to know the value, that I have enough funds to pay for maintenance, and taxes and insurance. They can clearly see that I’ve got more than enough to do that.

We closed on a transaction Friday before Christmas, which was on 22nd, and since that closing, I have received no formal communication from Liberty as to how much funds are available and how they’re accessed. I got an email from the loan processor that it would take upwards to three weeks before the loan would be funded. Normally, funds are available at the time of closing. Right now, I don’t know when the funds are going to be available, how much the funds are going to be, and how you access that from time to time. I was told in that email that we would receive a welcome package that would take about three weeks or so, but to this date, I have not received that.

Lastly, I was told also that there was not online accounting where I could go online periodically to see what’s my balance, how much I owe, how much the interest is, and what funds remain available. I can open up an account at FirstBank today, and by the end of the week, I should be able to access my account online and see what my deposits were, and what we did back on Thursday.

I started working with them in July and the process took a long time. Moreover, there were problems with their accounting department that figured out what my taxes would be -- it was terrible. I had a 27% reduction in my real estate taxes and even when the town provided the data on it, they could not figure it out. The town assessor finally got on the phone with them and told them that my numbers are correct. A bill from some inspectors that Liberty is supposed to pay came to me. I was told the inspectors were paid and no one indicated that they were not. Moreover, they were paid a lot -- $806. Now, they want $200+ more, but I am not paying it.

They need to get an expert opinion from a realtor before we begin. The FHA has some cockamamie unfair rules wherein if a brick wasn't sold within the last six months, it will get screwed in the appraisal, which is insane, inaccurate, and very unfair! The result is I have to take out a regular mortgage to raise the cash that I need. Fortunately, I have another house to do it on. But I didn't want to involve the other house. Now, I need to start a mortgage process with somebody. Since my credit isn't really good, I have to go to a Veterans. The process was inconvenient.

The Liberty rep Gary was terrific. He laughed at my jokes and he pushed things through the processing. There were a few hiccups here and there but he pushed and fought for me and my sister. The guidance we got was clear. Although we have closed on December 22, the title company has not yet. The title company from California has not done their job, but I have nothing but good things to say about Liberty Home Equity Solutions.

I wanted to know what the payback was and they answered and told me how that worked. There were several options and there was one option where there was no money going in. I opted for the one where I pay because the interest was less in the long run. The money I'm getting out of my house was phenomenal and I didn’t even know how well off I was. I have nothing but praises for the whole experience, not to mention the good money I’m getting out of my house. It was just phenomenal. I didn't even know how well off I was. I would recommend Liberty

I called Kathy and talked to her some more. We got in under the deadline and redid it again. This is our second time around and we're pleased with it. Everybody has been really good and they have taken care of our payments with no problem. It has been a good experience for us. The first time was more or less just a standard thing. It was like buying a house with stacked papers, like the Empire State Building design. However, the service was good and Kathy kept track of it and informed us constantly about whatever was going on, where it was at, and made sure that we had no problem with our counseling. Liberty is straightforward and honest. They are a very good company to deal with and there's no, "We'll do this," but it never happens, nor are there excuses. I found them to be a trustworthy company and I'd recommend them.

First of all, my address was different than what they have in the zoning department but that was the address that they gave us when we built the house. I tried to get that straightened out and it took a long time. Another thing is that they didn’t know what zoning we were in because they never really thought about it and that took a little while to figure out. Liberty helped us, though, and they were very willing to work with us, and we worked it out in the end.

My representative was on the West Coast in Sacramento and we were dealing with somebody back East when we got down to the closing. It would've been better if it had been coordinated in one of the areas. Sometimes I was expecting a response, and I didn't get out anything because the person handling that was on the East Coast. I highly recommend Liberty Home Equity Solutions. It is a good place to go and look for a type of loan.

I have a wonderful relationship with them. Steve, our loan officer, gave us all the information and then brought somebody along. When we signed the papers, we had to do it in the hospital since my husband was in there at the time. We were very happy with Liberty. Having to take a reverse mortgage is difficult enough, but they made it as easy as possible. All in all, it was a very positive experience with Liberty.