Reverse Mortgage Funding Reviews

DONT DO IT!!!! My mum took a reverse mortgage in England of just £60,000 ($118,000 Australian)
18 years ago. She died recently and she owes interest to the bank the total of £255,000 (($505,000 Australia) with interest increasing £1,200 per month. ($2,378 Australian)
It is a beautiful cottage and worth £400,000 ($792,000 Australia) and losing equity fast!!
If she had lived for 2 and half more years they could have thrown her out of her house and she would have been 89 years old with no where to live!!!!
Its terrible and disgraceful that the companies that sell Reverse Mortgages prey on the elderly and are told it’s a good idea but it should be BANNED!!!!!
If you are thinking of a reverse mortgage - please please DON’T DO IT - Just DOWNSIZE and keep your money.

Date of experience: August 22, 2023

Slow gruling process: numbers change constantly, very difficult to understand process. Amount of paperwork and signing proceedure totally archaic, (maybe was OK in 1950). Requests for documents and info absurdly aggravating; one day we need this, 2 days later we need xx, next day we need page 3 of xx. Seems like they figure if they torture you enough you will give up and go away! On the bright side, my primary customer service person was superb!

Date of experience: May 28, 2022

Poor communication between client and lender. Way too long of a process. Disappointed with two appraisals. After the first was considered too high, we had to wait for a second to be scheduled, and completed. The first appraisal seemed thorough and took a little over an hour. The second left so many items unchecked, and took about twenty minutes.
No attic inspection and no questions about the solar details, until a phone inquiry at a later time.
Overall, not a very satisfying experience.

Date of experience: July 18, 2021

Our Reverse Mortgage was a bit of a "bumpy ride" since we were coming out of Forbearance after the Pandemic with our 1st and 2nd Mortgages. Karen White skillfully guided us through the process and was always patient, understanding and kept a cool head, even when we were frustrated and impatient. Also, she is thoughtful and has a sense of humor (that Helps!). Karen and RMF are highly recommended!

Date of experience: November 03, 2021

This was our third "go-around" with RMF as the current real estate market has gone "ape" here in Maricopa county, AZ. Andrew has been very helpful with his keeping us up-to date with either email or phone calls. Our 3-4 week delay was due mostly because we were in the midst of a major landscaping project and we did not want the appraiser having to cope with a "construction zone". In the end, it proved very beneficial to us. We will be talking again in another year :)

Date of experience: May 25, 2022

Hank Rhoads and RMF were highly recommended to my wife and me by two different friends. It was a valuable recommendation because Hank was considerate, knowledgeable and professional. Our reverse mortgage has made a big difference in our lives and has reduced our stress. My only regret is that we didn't do it years earlier.

Thank you Hank, and thank you Reverse Mortgage Funding.

Dan & Judy Jostedt

Date of experience: March 13, 2022

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.

Date of experience: July 29, 2022

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.

Date of experience: September 23, 2022

Just a terrible experience trying to do a refinance on an existing reverse mortgage.
The agent was:
- lacking in communication
- rude
- never related that application was complete, or approved or denied - who knows?
- finally asked for credit card to charge for a "crawlspace inspection" and never explained why or what and when I said no the agent just rudely hung up on me.
- Very lacking in professionalism

Date of experience: May 19, 2022

Dave Marsh was fantastic all through the entire process.
The first appraisal came back low so with his input decided to hold off until we remodeled some and then conducted another appraise. The subsequent appraisal came in higher and rather than having to come to close with money we received money and were able to opt for a fixed rate.
The entire process took months and Dave was patient, informative and always available - We couldn’t speak more highly of him

Date of experience: May 08, 2021

No better way to express my appreciation. A take charge person without being controlling. She really does know how to get it done without any hic-cups. I wouldn't hesitate to recommend her to any family member or friend.
Now if she only knew how to fix cars.
Thanks, Karen.

Date of experience: February 12, 2022

My journey begins with the man listed below. Ed is a kind, caring knowledgable person, a classy dresser and knows the buisness. He is highly confident. He has the answer to any question, loads of patience and understanding for stressfull situations. He is prompt, and a great communicator. He is quick to respond to emails and phone calls. I trust him as a buisness man and a friend. Thanks Ed!

Edward Frankel
HECM Loan Specialist
RMF Vancouver WA

Date of experience: April 12, 2022

Karen White was greatly helpful in explaining the loan process from the beginning to the end. During the process she took the time in teaching me how to use my computer for signing loan docs. Although my previous lender was slow in providing the closeout balance, Karen helped me in being patient until we got the information that was needed. She also checked with on a regular basis to keep me updated. I would highly refer to future clients.

Date of experience: July 22, 2021

Larry was so helpful and knowledgeable. I was nervous suggestion my mom got the route of a reverse mortgage, but after explaining the process and walking us through it, it eased my mind that my mom was doing the smart thing. I would recommend RMF to anyone, it was seamless and easy and after my father's passing, it will help my mother stay out of an assisted living place and stay home safely where she belongs

Date of experience: May 26, 2022

Our loan RMF specialist Ms. White provided me with help, guidance, and knowledge for me to help my mother, myself, and my siblings keep our home and better plan and prepare for our financial futures. Mostly, I'm grateful that my mother will be taken care of and able to stay in her home.

Date of experience: November 29, 2021

Karen White guided us through the process with the patience of a saint. Ours was a re-fi of our existing reverse mortgage with RMF. Karen carefully explained the process as we moved forward, and answered all of our questions clearly. Karen is very pleasant, professional and has a calming voice. She also has a full command of the process, which was reassuring as we moved through the reams of documents. Everything went as expected; on time and as agreed. Karen is pro-active in her customer care which is not often found in today's business world. We were so fortunate to have worked with Karen.

Date of experience: February 26, 2021

Larry was our loan officer. He gets a 5 star review from us. Going through this whole reverse mortgage process from beginning to end was very stressful at times. I had a million questions for Larry and he took the time to answer and explain every question with an explanation as well. I would recommend him 100%

Date of experience: July 27, 2022

Larry McAnarney was very thorough and responsive as we process our reverse mortgage loan. He was always available when we needed him and very prompt in his responses. He knew his product well and communicated with us in a way we could understand.

Date of experience: January 25, 2022

We were nervous about reverse mortgages, not knowing what to expect. So glad we got to work with Larry McAnarney. He put to rest all our concerns and dealt with our numerous questions with patience and tons of knowledge. Would gladly recommend him.

Date of experience: April 21, 2022

Just want to say how much we appreciate all Karen White did for us--expeditiously, professionally, efficiently, succinctly, --and compassionately for Mom. She made it go smoothly accommodating our own hiccups, staying in touch and informed, and still closing within our demanding final stretch. Mom is at peace with it and the family is so relieved that Mom can stay in her home. Can't thank you enough!

Date of experience: June 17, 2022