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Reverse
Mortgage - FAQs
Q.
- Why should we have a strategic alliance with BCI?
A - A few reasons:
- Our
staff has expert knowledge of the reverse mortgage programs.
We work on these products every day.
- You
never want to send your consumer to another financial institution…BCI
is not a bank. We don’t solicit deposits!
- BCI
will train your staff!
Q
– Why is it important that we offer Reverse Mortgages?
A
– We have a number of good reasons for this question also:
- Seniors
are hearing more and more about these programs. You want them
to know that your company can assist them.
- The
most efficient deposits in your institution are passbook type
saving. These accounts generally belong to older customers who
will use them to pay bills and other expenses as they get older…unless
you direct them to other sources of funds…like the equity
they have spent their entire adult life building up in their
homes!
- In
some cases, your seniors have mortgages that they may be having
trouble paying on a monthly basis. BCI has successfully converted
these situations into Reverse Mortgages, given the consumer
income that they did not have before and helping the financial
institution out of the ‘public relations’ mess of
having to foreclose on a senior citizens home.
- Your
staff will be asked about them. BCI will train your employees
to answer questions and to assist these seniors (or their caregivers),
if this is the right product for them.
- Your
institution is missing a fee income opportunity!
- You
must be 62 years old or older to get a Reverse Mortgage. In
2007, that means that the Baby Boomer Generation comes of age…do
you want to miss this opportunity?
Q
- What does my staff learn at the training sessions?
A
– We find a convenient time and we go over general information
such as:
- How
much can I borrow;
- How
old do I have to be;
- DO
I really NEVER have to pay this loan back in my lifetime;
- What
do I have to do to apply.
They
won’t walk away as experts, but they will be able to answer
questions that will be posed to them by seniors. We also strongly
encourage the referring employee to sit in on the BCI presentation
with the senior. We do this, both to educate them with a real
life situation as well as to give the customer a direct link to
your institution.
Q
- How can I find out more?
A
– Look over our website, check out the success stories, become
better educated by looking at the common misconceptions about
reverse mortgages…we even suggest that you go to the AARP
website to get their perspective on this unique product. Then
give us a call or click
here to contact us for more information.
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