What If You Have a Reverse Mortgage With Livewell Financial Who Just Shut Their Doors
As of May 3, 2019, Livewell Financial stopped funding all of their loans(reverse mortgages and regular mortgages too). This means that any loan in their pipeline will not be worked on at all.
Naturally, this is is extremely frustrating.
First of all don’t panic(yes, I know this is easier said that done). No matter where you are in the reverse mortgage process, you’ll be ok.
Just so you know, this has happened before in the reverse mortgage world, and it will probably happen again. In 2009, one of the largest reverse mortgage companies(at the time) Senior Lending Network shut its doors. I(Jason Eichmiller) spearheaded the team to save SLN’s seniors. We worked tirelessly to help every single senior who had a reverse with SLN.
It worked by the way. We helped 96% of Senior Lending Network’s seniors close their reverse mortgages within 3 weeks.
Fast forward to today. If your appraisal has already been completed and you’re in underwriting(or just waiting to close) here’s what will happen. Livewell WON’T close your loan. If you ask us, we’ll help you transfer your appraisal and underwrite your reverse mortgage yourself. This is a quick, easy solution that should take no more than 2-3 weeks from initiation to closing.
If you haven’t had your appraisal done yet, we’ll still be able to help. We will seemlessly order your appraisal, and your reverse mortgage will be closed within weeks.
I understand that this is scary, and I understand your frustration. With that said, we will do our very best to help you get your reverse mortgage closed quickly and painlessly.
For Instant Consideration Call Our Hotline At (267) 289 1095.
You May Also Email Us At JasonE@ReverseMortgageReality.com