Build a better connection. Since we are in the relationship business I thought it appropriate to discuss how we can build stronger relationships. Ironically the quality of those we meet increases with the quantity or number of those we meet. Yes. The more prospects we have it seems…
Continue readingTurning the ship around
Certainly the reverse mortgage industry has garnered more legitimacy as a financial planning tool amongst financial professionals but we still have a long way to go. But what about those who don’t see the legitimacy or value? How do we turn the proverbial ship around? As our sales force becomes more educated…
Continue reading20 Inspirational Quotes
We need it as reverse mortgage professionals. Inspiration. Here are 20 amazing quotes from Sir Winston Churchill who inspired a generation faced with adversity and uncertainty enduring to final victory.
Continue readingWhat’s your why?
The philosopher Nietzsche said, “If we have our own ‘why’ of life, we shall get along with almost any ‘how.’” So while you’re a reverse mortgage professional in your business life, understanding your “why” can add a whole new dimension of meaning to the people you serve, to everything you do.
Continue readingTeaching them how to shop
Helping them shop for reverse mortgage originator? We often find ourselves on the phone or face to face with a skeptical potential borrower. That’s fine. It’s part of the process. Here’s how you can build your credibility while removing the pressure.
Continue readingAre You in Tune With Senior Style?
Do you know your prospect’s ‘buying style’? Here are some traps to avoid and ideas to shape more productive conversations.
Continue readingSpring Cleaning the Reverse Mortgage Way (part 1)
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Lowering Home Closing Costs
Chucking the Extra Closing Costs
Cleaning. Few of us like to do it, yet we seem more willing to spiff up our houses for others than for ourselves. Housekeeper due to arrive? Quick, toss those dirty clothes in the hamper! In-laws invited for dinner? Polish the silver and run the vacuum!
Selling the house? Pull out all the stops. Take an old toothbrush to the grout! Replace the kitchen linoleum! Paint the exterior!
While it certainly makes sense for your reverse mortgage prospects to enjoy a clean, comfortable house while they own it — and take all available measures to make it shine for sale at the right price — too many seniors make the mistake of selling one home, then buying another and applying for a HECM in order to avoid paying a mortgage in their retirement years. They’ve thus paid a completely unnecessary, double set of closing costs!
The smart move, of course, is to obtain the reverse mortgage at the time of the new home purchase. The Housing and Economic Recovery Act of 2008 created this special HECM for purchase loan, which went live on January 1, 2009. Find all the details here.
Educating Reverse Mortgage Prospects
So the ideal “spring cleaning” assistance to offer your prospects and clients this season? Reverse mortgage education:
- When does downsizing make sense? Is it appropriate for you and your spouse now?
- Explain why a HECM (reverse mortgage) for purchase means one set of closing costs, not two.
- Help your client begin the process of qualifying for a HECM for purchase loan, so they can enjoy their retirement free from monthly mortgage payments.
Best of all, this type of spring-cleaning is so much gentler on older backs — not to mention bank accounts. You get the business, they save the additional closing costs. Everybody blooms like a fresh spring garden.
In Part 2, we’ll look at ways to help your clients “age-proof” their homes.
Master Communicator? – Business Communication Skills
You are in the communication business. Here are 10 tips to improve your communication skills with potential and existing borrowers.
Continue readingWhat is Reverse Mortgage University?
Reverse Mortgage University is the foundation on which I have built my successful Reverse Mortgage company. The foundational building blocks on which I have built my business are universal and can work for anyone who wants to be a successful Reverse Mortgage Loan Originator.
We have developed systems which are time-tested and proven to help you get more reverse mortgage leads and turn those leads into reverse mortgage sales. The different modules of Reverse Mortgage University include Reverse Mortgage Knowledge, Reverse Mortgage Skill Sets, Reverse Mortgage Marketing, Reverse Mortgage Operational Systems, and Reverse Mortgage Leadership. You also get access to powerful tools such as our Reverse Mortgage CRM RmCRM, Reverse Mortgage Websites, Reverse Mortgage Marketing Strategies and Reverse Mortgage Leads Central, to name just a few. This is a comprehensive and ever-evolving platform.
We at ReverseFortunes.com hope we can be part of your growth and expansion in this ever growing, and exciting Reverse Mortgage Market.
Best regards,
Eric A. Hiatt
