Home Loan Specialists Beginning to Market Education of Reverse Mortgages for Houston Seniors

Oct. 4, 2011 - PRLog -- In an effort to increase public awareness and understanding, Home Loan Specialists of Houston (HLS) has announced a new marketing campaign to educate seniors on the process and economics of reverse mortgages.  

President Richard L. Veale stated, “Seniors are being deluged with marketing materials promoting the benefits and ease of qualifying for a reverse mortgage, yet the overwhelming majority of them continue to believe that these loans will lead to all manner of financial chaos.”  He contends that (indeed) reverse mortgages are not the perfect solution for every cash-strapped senior.

Furthermore, the only prudent strategy is to seek advice from a local professional who has gained their trust through a series of face to face interviews, personal referrals, and who demonstrates a history of ethical counseling.  Mr. Veale (a senior and long-time Houston resident) questions, “Why would anyone trust such an important financial decision to a cyberspace entity who does not know or care about the impact of making such a decision and who will disappear as soon as the loan has closed?”

Home Loan Specialists will begin sending a select test group of Houston area seniors an informative series of direct mail materials throughout October.  The thrust of this campaign is to invite seniors to meet face to face with reverse specialists at HLS.  They will be assured that anyone responding will be educated in the entire process without committing to any fees.  Only after they are fully educated and confident that a reverse is their best strategy, will they be asked to make application.  

A reverse mortgage requires no income or credit qualification.  In general, anyone past the age of 62 with more than 50% equity in their home may qualify.  The underwriting of a reverse typically takes 3 to 6 weeks after which the approved applicant receives a monthly annuity payment or lump sum until they either pass or leave the home.  

Please feel free to contact HLS if you have any questions or need advice on how to start the process of a reverse mortgage.

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Home Loan Specialists, Inc. is an award-winning, Houston, Texas-based, BBB accredited, mortgage lender specializing in low rate home loans and mortgage refinancing. The firm offers fixed conventional, Reverse, FHA, VA, USDA, Jumbo, and First Time Homebuyer programs.