Comments on: Irresponsible Reverse Mortgage Reporting From Consumer Reports http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/ Reverse Mortgage News and Information Mon, 13 Feb 2012 00:19:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Anonymous http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-38723 Anonymous Mon, 24 Aug 2009 13:29:00 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-38723 See this:rnhttp://www.nytimes.com/2009/08/23/realestate/23mort.html?_r=2&scp=1&sq=monitoring%2520loan%2520officers&st=cse See this:rnhttp://www.nytimes.com/2009/08/23/realestate/23mort.html?_r=2&scp=1&sq=monitoring%2520loan%2520officers&st=cse

]]> By: dduck12 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-33629 dduck12 Mon, 24 Aug 2009 11:29:35 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-33629 See this:<br><a href="http://www.nytimes.com/2009/08/23/realestate/23mort.html?_r=2&scp=1&sq=monitoring%252520loan%252520officers&st=cse" rel="nofollow">http://www.nytimes.com/2009/08/23/realestate/23...</a> See this:
http://www.nytimes.com/2009/08/23/realestate/23…

]]> By: jstults http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-33627 jstults Sun, 23 Aug 2009 14:32:21 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-33627 It gets even worse my friends.<br><br>Click the link below and the newscast on ABC!<br><br><a href="http://abclocal.go.com/kabc/video?id=6961769" rel="nofollow">http://abclocal.go.com/kabc/video?id=6961769</a> It gets even worse my friends.

Click the link below and the newscast on ABC!

http://abclocal.go.com/kabc/video?id=6961769

]]> By: Louise321 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-33618 Louise321 Sat, 22 Aug 2009 00:16:33 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-33618 We saw it in So Cal on a local affiliate as well.<br><br>How do these guys do this? It's like putting your finger in the dike of lies and all kinds of lies start spilling out! We saw it in So Cal on a local affiliate as well.

How do these guys do this? It's like putting your finger in the dike of lies and all kinds of lies start spilling out!

]]> By: dduck12 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-33617 dduck12 Fri, 21 Aug 2009 19:23:37 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-33617 Linda, thanks for the link, I sent them a little love note. Linda, thanks for the link, I sent them a little love note.

]]> By: Stephen Kinney http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-45785 Stephen Kinney Fri, 21 Aug 2009 17:28:00 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-45785 The best thing any an all of us can do is writing to CR and refute any inaccuracies calmly and with conviction. They had an opportunity to educate and instruct there readers on how to find the many reputable and educated reverse mortgage specialists that are out there in abundance. They chose to opt for sensational headlines and half truths and misinformation. “petefrancis”, I am sorry you had a bad experience. There are many fine people doing reverse mortgages in the most ethical way. You can start by contacting NRMLA www.reversemortgage.org who can give you a reference to member firms. Then I suggest you ask any loan officer who you speak to 3 questions. 1. How long have you been doing reverse mortgages? 2. How many have you done, and can you give me a reference or two or three? Lastly, ask them to describe in detail the training they received on reverse mortgages? How many hours? Etc. Anyone who can’t answer these 3 questions to your satisfaction then find some one new. Believe me they are out there. The best thing any an all of us can do is writing to CR and refute any inaccuracies calmly and with conviction. They had an opportunity to educate and instruct there readers on how to find the many reputable and educated reverse mortgage specialists that are out there in abundance. They chose to opt for sensational headlines and half truths and misinformation.

“petefrancis”, I am sorry you had a bad experience. There are many fine people doing reverse mortgages in the most ethical way. You can start by contacting NRMLA http://www.reversemortgage.org who can give you a reference to member firms. Then I suggest you ask any loan officer who you speak to 3 questions. 1. How long have you been doing reverse mortgages? 2. How many have you done, and can you give me a reference or two or three? Lastly, ask them to describe in detail the training they received on reverse mortgages? How many hours? Etc. Anyone who can’t answer these 3 questions to your satisfaction then find some one new. Believe me they are out there.

]]> By: Linda Lewis http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-33615 Linda Lewis Fri, 21 Aug 2009 17:18:18 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-33615 You can respond to this outrageous article via Consumer Report's website: <a href="http://custhelp.consumerreports.org/cgi-bin/consumerreports.cfg/php/enduser/ask.php?p_icf_3=19" rel="nofollow">http://custhelp.consumerreports.org/cgi-bin/con...</a> <br><br>Part of my response, citing the article: "The broker told me my name could be put on the mortgage as soon as I turned 62, but that never happened," Minor says.” Did he and you assume that the lender was going to initiate a new loan automatically? What were their options to obtain this much money – sell the home? If he sells the home now, he walks away without having to pay the shortage between the home value and the loan payoff. How could you have neglected to mention this essential benefit of a Reverse Mortgage? It’s a Non-Recourse Loan! How dare you cite the only condition under which a senior can lose their home and make it sound as though this is always the case? <br><br>How many of us sign loan documents and remember the terms five or ten years later? That may be part of what is going on here. Yes, it is good to say “Buyer Beware,” but seniors will suffer financially as a result, rather than benefit from a viable, FHA-insured government program. <br><br>Please print a retraction or follow-up story based on accurate information obtained during the four-hour meeting with Mr. Peter Bell, President of the National Reverse Mortgage Lenders Association. You can respond to this outrageous article via Consumer Report's website: http://custhelp.consumerreports.org/cgi-bin/con…

Part of my response, citing the article: “The broker told me my name could be put on the mortgage as soon as I turned 62, but that never happened,” Minor says.” Did he and you assume that the lender was going to initiate a new loan automatically? What were their options to obtain this much money – sell the home? If he sells the home now, he walks away without having to pay the shortage between the home value and the loan payoff. How could you have neglected to mention this essential benefit of a Reverse Mortgage? It’s a Non-Recourse Loan! How dare you cite the only condition under which a senior can lose their home and make it sound as though this is always the case?

How many of us sign loan documents and remember the terms five or ten years later? That may be part of what is going on here. Yes, it is good to say “Buyer Beware,” but seniors will suffer financially as a result, rather than benefit from a viable, FHA-insured government program.

Please print a retraction or follow-up story based on accurate information obtained during the four-hour meeting with Mr. Peter Bell, President of the National Reverse Mortgage Lenders Association.

]]> By: vincentnavarro http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/comment-page-1/#comment-45784 vincentnavarro Fri, 21 Aug 2009 15:53:00 +0000 http://reversemortgagedaily.com/2009/08/20/irresponsible-reverse-mortgage-reporting-from-consumer-reports/#comment-45784 Hello Friends, Quite frankly I'm sick and tired of sitting back reading comments about our industry and being accused of irresponsible business practices buy those who act extremely irresponsible in their respective fields.I look in the mirror every morning with a clear conscience in regard to my treatment of seniors and after seven years in this industry cannot look back on one, not one reverse mortgage transaction that I was ashamed to be a part of.I for one will no longer sit back and read and watch the dismantling of our industry and the smearing of my livelyhood by headline seeking politicians and bankrupt desperado magazines.enough is enough.I am writing CR a factual aggressive letter along with letters to my respective representatives. It seems, to leave the fate of our industry in the hands of NRMLA (although they do a fine job and seem to have an ear from HUD)and others and turn around one day and no longer be able to serve the senior community with reverse mortgages makes no sense. we can't blame anyone if we haven't taken the appropriate steps to defend ourselves!and this incredible program.Think for a minute if you will.. after investing so much time and effort in educating ourselves, taking license tests etc. that we may be forced to seek other opportunities of employment because of the irresponsibility of a few miss informed key people with an obvious agenda That's the reality of it! lets wake up man! Hello Friends,
Quite frankly I’m sick and tired of sitting back reading comments about our industry and being accused of irresponsible business practices buy those who act extremely irresponsible in their respective fields.I look in the mirror every morning with a clear conscience in regard to my treatment of seniors and after seven years in this industry cannot look back on one, not one reverse mortgage transaction that I was ashamed to be a part of.I for one will no longer sit back and read and watch the dismantling of our industry and the smearing of my livelyhood by headline seeking politicians and bankrupt desperado magazines.enough is enough.I am writing CR a factual aggressive letter along with letters to my respective representatives. It seems, to leave the fate of our industry in the hands of NRMLA (although they do a fine job and seem to have an ear from HUD)and others and turn around one day and no longer be able to serve the senior community with reverse mortgages makes no sense. we can’t blame anyone if we haven’t taken the appropriate steps to defend ourselves!and this incredible program.Think for a minute if you will.. after investing so much time and effort in educating ourselves, taking license tests etc. that we may be forced to seek other opportunities of employment because of the irresponsibility of a few miss informed key people with an obvious agenda
That’s the reality of it! lets wake up man!

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