Reverse Mortgage FundingReviews of reversefunding.com

I applied back in August 2022 for a reverse mortgage on a home I paid cash for. I am 64. I solicited several companies and chose RMF because of their high rating score. I declined one company because of their policy relating to time in the home. Anything under 60 days will net you an appraisal value equal to the purchase price. (It is always a good idea to punish someone for negotiating a great deal). I was interviewed, on the phone and in person. I took the Reverse Mortgage counselling class. RMF selected and sent an appraiser out to my home. The appraiser returned a value of $447k. I purchased my "Forever" home for $309,900. At that point, RMF changed the deck of cards they dealt. The came back and said, " Your home appraised for $447K, but we don't believe you are living in the home". So I sent multiple documents proving I was living in the home. They then came back with " You've only owned the house for about 60 days, so we're only going to give you a purchase price appraisal." I have been waiting since then for them to reconsider their "bait and switch" offer. I guess they're hoping I will give up waiting and go somewhere else... 10/14/2022 As a follow up to my initial review, I contacted RMF today about an issue regarding changes they made to my Homeowners policy. Before I could discuss it with the representative, he advised me that RMF would not reconsider the secondary offer (Value based on Purchase Price) they made. I contacted RMF because RMF had themselves added to my State Farm Homeowner's insurance policy as 1st Mortgagee. I asked the RMF representative how that was done, without a fiduciary agreement between myself and RMF, and also without my permission or consent. His response was "That's just something that we do." Needless to say, all negotiations between us were stopped by me at that point. I no longer want RMF for my Reverse Mortgage because I question the honesty of their business practices. Caveat Emptor!

For a few months, my wife and I collected reverse mortgage general information from a variety of sources and researched reverse mortgage companies through various objective sites - Trust Pilot being one of those sites. We contacted three companies - AAG, Mutual of Omaha, and Reverse Mortgage Funding (RMF) - that were rated in either the top 5 or 10 in the country by these various objective sites . We decided to pursue an application through RMF primarily because of the professional, attentive, and always timely customer service response and support we received from the RMF Specialist/Loan Officer who contacted us and made the other companies look like amateurs in comparison. His name is David Houghten. Throughout the 5 months that we worked with David, he walked us through the entire application process to the closing in September. We found him candid, straightforward, patient, and professional, answering our many questions and providing various quotes and information upon request, while never applying any type of sales pressure to close the deal. If RMF’s servicing of our mortgage going forward matches David’s support, and we’re sure it will, we will have no regrets procuring our reverse mortgage from RMF.

I had many questions and some apprehensions about reverse mortgage, but Larry explained everything to me and was very patient with me throughout the whole process. I had contacted other reverse mortgage companies in my research before contacting Reverse Mortgage Funding and none of them provided the level of professionalism, knowledge and communication that Larry provided.

I was put in contact with Joe Walker of RMF, and was treated more dismissively than I have ever been in my life. I told him that my Mother died two days earlier, and that I was looking at my options for keeping her home. He asked my age, and when I said 59, he blurted out "you're not qualified" without hearing ANY specifics. I actually will qualify in 9.5 months, but he didn't want to hear that, and was ready to hang up. I asked if he was with RMF, because with some mortgage lead companies, it's hard to know, and he went ballistic, and accused me of "having an attitude". By asking what company he was with, I had an attitude. This man has no business being in customer service period, let alone the mortgage industry.

This has been a long drawn out affair, but I must say both Andrew and Hardik have been wonderful about keeping me updated and helping where they could. They both deserve a bonus on this one!

Our experience with RMF was outstanding. Our contact rep, Leslie, was fantastic and made the whole process painless. The process for applying for and qualifying for a home loan can be daunting. Leslie walked with us through each step, clearly communicating what was going on and what needed to be done. We would recommend RMF and Leslie to anyone looking into a reverse mortgage.

Reverse mortgages are not easy to do nor completed quickly. This was our second with Reverse Mortgage Funding, and they both averaged about four months to complete. The process involves much paperwork, and research to complete. Our agent was very patient with my sister and me and did her best to work with us and the underwriters to find the correct information. I cannot guarantee that everyone will be happy with the results, as we were not when the home appraisal came in lower than estimated, and therefore lowered our potential payout. But by just being patient, and waiting a few months, it changed, and we were pleased with the results. I recommend Reverse Mortgage Funding to anyone who has contemplated a reverse mortgage and has decided to proceed! Go with RMF

If there was a negative for review I would use that zero to rate RMF. LIARS and robbers, that's what RMF is. Promises of a coming return phone call after escalations have come and gone three times. THREE times RMF lied to me! My roofing contractor replaced my roof on 7-9-22. He did a good, timely job using quality materials, and deserves to be paid. He has carried my debt for over a month now, and is threatening Lien on my home. Meanwhile, RMF holds MY money for over 30 days, while they try to, make interest on MY MONEY! All I get is bowl-fulls of Caproate jargon and BS lies. I am filing complaints with the Colorado State Attorneys Office and with the Federal Attorneys Office. These people are liars and cheats, in my book! I want my MONEY that RMF has held for over a month!!