Before You Consider

 Three Important things to do prior to making a decision:

1. Decide how long you expect to stay in your home. A Reverse Mortgage can be considered an expensive financial decision if you do not plan on staying in your home for more than 2-3 years.

2. Don’t leave your family out of the decision making process, especially grown children. Try to get a consensus among your heirs prior to proceeding with the Reverse Mortgage, or at least include them during the education process.

3. Be sure that a Reverse Mortgage does not affect your eligibility for need based public assistance programs or benefits you may currently be eligible for.

Seniors are targeted by scam artists daily through mail, online, in person or even on the phone. Security One Lending wants to offer you the following tips to help you friends and family avoid becoming victims of these predators.

BEWARE of websites or call centers that advertise they are industry "Watchdogs". Most of these websites or call centers are fronts for Mortgage Brokers and are gathering confidential information from you and selling it to other Mortgage Companies.

BEWARE of pushy Reverse Mortgage salespeople, who are INSISTANT of you signing any documents. The Federal Housing Administration has put into place several safeguards to protect you from being ripped off through obtaining a Reverse Mortgage. You MUST speak with an independent third party counselor during your Reverse Mortgage process, if this has not been disclosed to you; consider it a red flag.

BEWARE of anyone whom contacts you with offers of generous financial gains; do not invest your Reverse Mortgage proceeds into one of their investment traps. You’ve learned through the years that diligent hard work gets you ahead. Though it may be tempting, never under any circumstance sign over a portion or percentage of your Reverse Mortgage proceeds to ANYONE with out prior knowledge or consent of your attorney or financial planner.