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Financial Freedom Selected as Exclusive Reverse Mortgage Lender for Veterans of Foreign Wars’ (VFW) MembersIrvine, CA - [October 20, 2008] - Financial Freedom, one of the nation’s largest lenders and servicers of reverse mortgages, announced an alliance to be the exclusive provider of reverse mortgages for the Veterans of Foreign Wars’ (VFW) qualified members.
“As we explored reverse mortgage providers on behalf of our members, we wanted to identify a lender with a great reputation and track record for serving America’s senior homeowners,” said Robert Crow, VFW Deputy Assistant Quartermaster General -Operations. “Financial Freedom has been a proud, responsible industry leader and senior advocate for over 10 years, with a single-focus on reverse mortgages.”
Veterans can access information from VFW and can access reverse mortgage information including a free DVD regarding reverse mortgages from www.vfwhomeandloan.com or by calling 1-888-258-0797. To help Veterans and all seniors evaluate reverse mortgages, Financial Freedom has developed an educational video entitled “The Financial Solution You’ve Been Waiting For,” that explores the best practices, safeguards and important considerations. In addition, Financial Freedom developed two other advocacy videos called “Is a Reverse Mortgage Right for Me?” and “Uses for a Reverse Mortgage.” Through this alliance, these informative advocacy videos are available through the Financial Freedom website at http://financialfreedom.com.
“It’s an honor to serve those who served America,” said Michelle Minier, CEO of Financial Freedom. “Financial Freedom is delighted to have an opportunity to work with members of the Veterans of Foreign Wars and serve as their trusted reverse mortgage lender and help their members make informed decisions about their retirement needs.”
With a presence nationwide, Financial Freedom’s local Reverse Mortgage Specialists can address the reverse mortgage needs of local VFW Posts Commanders and members.
A component of our alliance also serves the veterans by donating funds to the VFW Veterans Service and Military Assistance Programs.
What is a Reverse Mortgage?
A reverse mortgage is a unique loan that enables senior homeowners to convert part of the equity in their homes into tax-free income without having to sell the home, give up title, or take on a new required monthly mortgage payment. Reverse mortgages are available to individuals 62 or older who own their home.
The Veterans of Foreign Wars of the United States, with its Auxiliaries, includes 2.2 million members in approximately 8,100 Posts worldwide. Its mission is to “honor the dead by helping the living” through veterans’ service, community service, national security and a strong national defense.
Annually, VFW members and its Auxiliary contribute more than 13 million hours of volunteerism in the community, including participation in Make A Difference Day and National Volunteer Week. From providing $2.5 million in college scholarships to high school students every year to encouraging elevation of the Veterans Administration to the president’s cabinet, the VFW is there—honoring the dead by helping the living.
About Financial Freedom
Financial Freedom Senior Funding Corporation headquartered in Irvine, California, is one of the largest lenders and servicers of re-verse mortgages in the United States. Financial Freedom funded over $4.7 billion in loans on $12.8 billion in home value in reverse mortgages in 2007 and is the largest servicer of reverse mortgages with a servicing portfolio of over 150,000 loans.
Financial Freedom developed the Reverse Mortgage Analyzer, the industry’s first reverse mortgage software that helps lenders compare the benefits between reverse mortgage products. The Reverse Mortgage Analyzer (RMA) has been a powerful tool since 1997 and is the industry standard with more than 35,000 registered users. In addition, this RMA software application has been used to train counselors.
Financial Freedom is also founding member of the National Reverse Mortgage Lenders Association. NRMLA is a nonprofit trade association, based in Washington, DC, whose mission is to support the continued evolution of reverse mortgages as an important financial option for senior homeowners while educating both its members and consumers about the varied applications of this unique loan. For more information, visit the Financial Freedom Web site at www.financialfreedom.com.
Members sign a Code of Conduct pledging to abide by guidelines that assure fair, ethical, and respectful practices in offering and making reverse mortgages to seniors. For more information, visit the NRMLA Web site at www.reversemortgage.org.
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