An Irvine, Calif.-based reverse mortgage lender has created a new website designed to answer senior citizens questions regarding the product.
American Advisors Group has rolled out ReverseMortgageQA.com. A company press release describes it as "a network of question and answer websites that will enable consumers to easily request free, fast and accurate information specifically related to their individual questions about reverse mortgages."
When consumers visit the site, at the top of the page is a large box where they can type in the question they are looking to have answered. They can do so anonymously.
The home page also lists the most recent legal questions asked as well as the most popular questions.
Reza Jahangiri, AAG's chief executive, said, "we want to inform and educate seniors using an easy to find question and answer platform."
An experienced reverse mortgage originator, he continued, answers their questions. The person asking the question does not have to commit "to anyone or anything.
"We hope people use this site to gain a better understanding of the benefits of this often misunderstood financial product," Jahangiri said.
Among the questions already asked by those accessing the site include are mobile homes and farms eligible property types, can the loan go into foreclosure, any limitations on what the proceeds can be use for, why are there no credit requirements and how can a borrower question the selection of an appraiser.
