Reverse Mortgages Not New, Can They Explode Your Business?
A reverse mortgage is something fairly new to the market. The ability has been around for years, but with the housing crunch coupled with aging baby boomers who need cash, the reverse mortgage has gained some sincere followers. However, where do you get reverse mortgage leads?
As with anything, you can get it for a price. Many companies that sell leads are online. Some are reputable, others are scammers. Still others sell ‘leads’ that are nothing more than names and addresses from public sources that you can contact on your own.
A few companies online actually sell you ‘appointments’ ‘ leads that have actually scheduled appointments to have a licensed mortgage broker talk to them about the pros and cons of getting a reverse mortgage. Not every mortgage broker is familiar with the ins and outs of a reverse mortgage, and it would behoove anyone interested to make certain the person they are talking to actually knows what he’s talking about.
To buy leads that supposedly have appointments already set up is a bit scary. These companies offer no guarantee of success. They don’t guarantee the phone numbers or any information provided in the lead ‘ which is a red flag since they would most likely have recently needed to make the alleged appointment which should not be too distant in the future. A company that refuses to guarantee information they just sold you should be taken at face value.
Before buying mortgage leads for any reason at all, double check to see if they are indeed a real company. Have they posted their company name and address on their website? Are they appropriately registered with their state to do business?
Next, check with the Better Business Bureau for any consumer complaints. Any company that sells leads with or without a guarantee is certain to have some consumer issues to deal with.
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