The Life Of A Reverse Mortgage Lead

Last week I received a call from a senior that had requested information about reverse mortgages over a year ago.  I haven’t been originating loans in order to focus on growing RMD, so when I received the phone call it caught me a bit off guard.

The gentleman had requested some basic information about reverse mortgages, so I mailed out some information and tried to follow up a few days later.  Unfortunately, I was never able to get in touch with him but I sent him one last package simply stating that if he ever had any questions about reverse mortgages I’m happy to help. 

Normally after several unsuccessful attempts at reaching a lead, you might file it away as a dead lead and move on.  Not in the reverse mortgage business. 

After a year of considering a reverse mortgage the senior felt he was now ready to move forward.  When I asked what made him decide now was the right time?  He replied, “I’m just ready, I didn’t want to rush into anything.”

Stories like these are just one of the many reasons why the reverse mortgage business is nothing like the forward business. 

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