Why Mortgage Life
Tracker is Important
|
Mortgage Life Tracker was formed to
provide a much needed service to the Reverse Mortgage Industry. Presently the
foundation for repayment is based on the borrower no longer occupying the
home as their principle residence.
The two most common reasons are
death or transfer and yet there is no timely, efficient and cost-effective
process which alerts the lender that these events have occurred. In
the event of death, the heir is responsible for the notification and there
are many reasons this may not occur right away. Grief, confusion,
ignorance or borrower's inability to communicate, just to name a few.
Mortgage Life Tracker will provide notice in an adequate time
frame.
Reverse mortgages are gaining in popularity as more
seniors start looking for ways to supplement their retirement incomes. And
as the interest in reverse mortgages increases, so are the cases of reverse
mortgage fraud and scams. |
Our
Mission
To give the lender a timely, efficient
and cost-effective service to receive the necessary notifications needed to
preserve the integrity of the reverse mortgage.
Our Vision
To Benefit the Reverse Mortgage Industry
