When it comes to understanding reverse mortgage leads, people often get all turned around on the subject. We're going to reverse this trend by simplifying mortgage lead lingo and breaking it down for the the masses.
Reverse mortgage leads are not available to every American home owner. To qualify for a reverse mortgage in the United States, you must be at least sixty-two and have paid off all or most of your home mortgage.
The essence of a reverse mortgage is that senior citizens can receive cash against the value of their home, but unlike other loans, they are not required to pay the loan back on a monthly basis. In fact, reverse mortgage leads on on the rise because senior homeowners don't have to pay back these loans so long as hey live in the home. Experts predict reverse mortgage leads will continue to increase as the elderly face rising costs with a fixed income.
When you consider the rise in energy costs and today's inflationary levels, it's easy to understand why those over the age of sixty-two seek reverse mortgages. Typically, the Reverse Mortgage is repaid from a home’s equity when one sells the home, moves out permanently, or passes away. It is an immediate influx of money when it's need most, financial independence and reassurance in the golden years.
It's also now easier to understand that a reverse mortgage lead is an essential first step toward converting a reverse mortgage lead into a reverse mortgage customer and helping those in their final years live comfortably.