06.12.2015

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Every now and then, I either get asked about my opinion about reverse mentoring or encounter a prospect that has a so-called reverse mentoring program. Recently, two of the largest providers of reverse mortgages, Wells Fargo and Bank of America, exited the reverse mortgage business.
With a reverse mortgage, there is no credit qualification and no income qualification – all the scrutiny is put on the quality and relative value of the home.
Some homeowners were taking out reverse mortgages and eliminating their mortgage payment, but they were  falling behind on their property taxes.


If you are a customer of Wells Fargo or Bank of America, you may feel lost or even jilted at the sudden loss of the option of a reverse mortgage.
However, there are still a number of places which continue to provide reverse mortgages to their clients.
Contact us today for a complementary consultation to discuss how a reverse mortgage might fit into your financial structure. Simply put, reverse "mentoring" matches senior executives (the mentorees) with younger people (the mentors) to help the older generation stay current and informed about new technologies or trends.


This has caused many people looking for a reverse mortgage to wonder where to go next. Meanwhile, other lenders have stepped up their presence and invested heavily in this market niche. Our firm at Security First Financial Services has an average of 17 years of experience per person in the mortgage industry, and we are still offering reverse mortgages through multiple investors.



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