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Saturday, January 3, 2009

The Price of Free Reverse Mortgage Info

By Revmorti Vanrock

You may have some financial hurdle to overcome. Perhaps you are 62 years old or older and have heard about using a reverse mortgage to help you solve your problem.

What you may have heard is that equity in the home can become spendable money, but the how of it isn't quite clear. So you Google reverse mortgages to see what comes up.

How wonderful to see so much helpful information. There are guides, informational brochures, and all sorts of websites offering general overviews. You are definitely in the right place for getting started.

You quickly find a free guide that can be sent straight to you. Perfect! You enter your contact details and await your information.

What you may not know is these websites are not non-profits. These are lead generating websites designed to capture your information and hopefully make a profit.

Profit is made 1 of 2 ways. The website owner could be an actual lender vying for reverse mortgage clients, and wants to be the one you pick should you continue the process.

Or they are in the lead sales business. This is big business in the reverse industry. Some of the most informational websites are also the most profitable lead generators.

These folks get your information and immediately sell it to a reverse mortgage company for them to contact you.

So, you've entered your info into the website for the free guide, you're waiting, and surprise, surprise, your phone rings. Its a reverse lender, and they let you know they are calling in response to your inquiry on that website.

If you requested a number of booklets from various websites Guess what? You are getting calls from numerous reverse mortgage companies.

And not just that; reverse mortgages companies can be persistent. They all want to earn your business, so count on more than one phone call from each company.

So, as you gather reverse mortgage information online, if you give out your contact info, prepare yourself for phone calls that you were not necessarily expecting.

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