Live Well Reverse Mortgage

Live well financial was among the top reverse mortgage companies by volume before closing suddenly in may 2019.

Live well reverse mortgage.

Rather than paying in hard cash homeowners borrow money from banks and agree to pay back through a predetermined set of payments with interest. Our easy to read content is contributed not only by our team of in house financial experts and experienced writers but also several freelance writers. Livewell delivers financial information tips and guides to help you with your financial portfolio investments mortgage and even personal budgeting. Live well financial the once prominent reverse mortgage lender that shut down abruptly may 3 has already been sued for allegedly failing to pay employees and now it may be in even deeper.

They re offered by some state and local government agencies as well as non profit organizations but they re not available. According to data from april the last full month that live well was in operation the company had placed number 7 on reverse market insight s list of the top 100 reverse mortgage lenders for the month though the company only originated just over half the amount of loans it did compared with the same point in 2018 350 versus 605. Lwf was a privately owned mortgage originator servicer and investor licensed in the united states to operate in 46 states. Live well financial inc.

Delivering the best financial know hows. Single purpose reverse mortgages are the least expensive option. A mortgage is a legal agreement that gives homeowners conditional rights of ownership to a property. Many live well staff and some of the company s operations ultimately moved to another reverse mortgage lender called open mortgage.

The company offered government insured home equity conversion mortgage loans hecm commonly known as reverse mortgages fha single family mortgage loans and fannie mae conforming loans lwf is headquartered in richmond virginia and has 3. As you consider whether a reverse mortgage is right for you also consider which of the three types of reverse mortgage might best suit your needs. However they are not ranked as highly as other providers as their website offers the bare minimum of information preferring direct.