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The first question is how do reverse mortgages work? Are they worth thinking. In this article I go through the basic features and will underline, that you have to take contact with an expert, who can tell you all the details.





The reverse mortgage loans are administered by HUD, US Department of Housing and Urban Development, and the program is called HECM, Home Equity Conversion Mortgage.





1. Who Can Qualify For A Reverse Mortgage?





Here are the basics about how do reverse mortgages work. You have to be a senior age 62 or over, you must own your home and have a low mortgage balance, which can be paid of at the closing of the reverse mortgage loan.





You must live in your home permanently and it can be a single family home or from 1 to 4 unit home. The condominiums and manufactured homes, which are approved by HUD and meet FHA requirements, are also accepted. Additionally you have to receive consumer information from a HECM counselor, before you make the agreement.





2. How Do Reverse Mortgages Work, The Back Payment.





The reverse mortgage loan will be paid back, when you move away permanently from the home or when you die. Because no monthly payments have been made, the principal plus interests will be covered with the sum from your permanent home sale. If the sum does not cover the whole sum, HUD will pay the difference. The lender cannot touch your other assets.





3. These Are The Payment Terms From HUD.





You can choose, whether you want the payment as equal monthly payments, the same sum every month during a fixed amount of months, as a credit line, as a combination of the credit line and the monthly as long as you live in the house or as a combination of the credit line and monthly payments for a fixed period of time.





4. How Do Reverse Mortgages Work? The Advantages.





With the reverse mortgage loan a senior can get the needed cash and the reverse mortgage does not require monthly back payments, so it is totally extra cash. Everything will be paid back, when the property will be sold.





The borrower stays as the owner of the property, so he will get the profits from the value increases of both the old and new homes and the lender cannot make the borrower to sell the house or to move away, even if the loan sum plus interests exceed the value of the property.


The HUD limit on reverse mortgages in US is $625,000. The older the borrower is, the more loan he gets. Usually the lenders estimate the property value lower than the amount of the reverse mortgage loan to minimize the risk.





5. What Are The Disadvantages Of A Reverse Mortgage Loan?





Because HUD is the administrator, all reverse mortgage costs are fixed. The reverse mortgage fees can be high and they are in many cases rolled into the loan and not paid upfront. You should actually avoid counselors, who sell consultancy to you and are not accepted by HUD.





The conversation with the legal advicers, family members and the financial advisers is worth doing. You have to calculate all the costs, all the benefits including the estimates of the future equity values. Maybe your heirs are also interested to participate.
Juhani Tontti, B.Sc., Marketing. When You Think The Reverse Mortgage For Home Purchase, Go Carefully Through The Pros And Cons Of The Reverse Mortgage Loans. Visit: How Do Reverse Mortgages Work

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reverse phone lookup the easy way

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A poorly performing Customer Service Representative isn"??t just falling below par; they may be actively sending your Customers or Prospects off to the opposition. A whole Team of Customer Service Representatives who is performing badly can be a threat to your survival! And yet a Team can go off over a very short period of time. They can quickly become negative, have a bad attitude or just be totally de-motivated to perform well with their Customers.



Understanding Motivation

Motivation is the drive to WANT to perform well. Motivation refers to the DRIVE to use their skills effectively to achieve a positive outcome with every Customer "?" on each and every occasion. A motivated person wants to improve, to do better and better. A highly motivated Customer Service Team wants to beat the opposition "?" to be better with their Customers than any other Company! To do this they continuously work at their knowledge, skills, attitude and Customer focus.



The Prerequisites of Motivation

Obviously, there are prerequisites, some things that must be in place before motivation becomes relevant. It is important that the CSR knows exactly what the "??desired"?? performance is "?" that they truly understand what they are paid to do. People often talk of de-motivated staff, when the poor performance is really caused by something quite different. The staff has never really been told the goals with Customers in general, and on each specific call.

For example, a Technical help desk agent may think his role is to give information, and he does this in a way that is clear to HIM. The fact that other people find him totally unintelligible is the "??fault"?? of the "??stupid"?? callers. This agent may never have been told that his goal is to explain the information, preferably in one go, so that it is clearly understood by the LEAST knowledgeable of people. These are the skills he or she must build up, and a "??professional"?? is one whose callers never have to ask for clarity! Ensure your Team really do understand their goals, and what success is.



Work on Positive Attitude

Improving the Customer Service Team"??s attitude to the Customer, to the Company and to your products or services is the first area of focus. A negative attitude to one or more of these factors can seriously de-motivate a Team if it gets imbedded in the culture.

The Team Leader is critical here. Often the Team Leader actually creates the negativity by displaying negative attitude themselves. Their Leadership influence cannot be underestimated, and they can bring a Team down very rapidly. The reverse is also true. Talking positively, praising positive attitudes in their Team and gathering positive evidence to present to the Team will help turn the negativity round in a very short period of time.

The quickest and most motivating way of changing Team attitudes is to engage the Team itself in actively working on this. For example, if the Team have a negative attitude to the Company, the Team Leader can help the Team brainstorm ideas to improve this. They might invite people from other departments to give a talk on their activities, invite sales people to give the benefits of their products or share briefings from Management on the direction the Company is taking at this point in time.



Lack of Skills is De-motivating

Your Team must also have the knowledge and skills to perform well. They must have a good working knowledge of your products and services, of the language to answer queries, and of the flow of interactions. They must have the skills to deal with every type of caller or situation, and to deliver a successful outcome on every occasion. Indeed, they must understand that this DOES require skills, and is not just a matter of "??liking"?? some Customers and not others!

If the Team lack product knowledge, or the approach to handle a tricky situation, they can quickly build up defences. These defences prevent them from even LOOKING for a good solution for this Customer or for good skills to handle this type of interaction.

Again, the Team and the Team Leader together can work on improving skills. They can workshop a difficult call at a Team meeting and work out the best approach and timing of this call. They can work on improving a specific area of the call each week "?" the beginning one week, good closes the next etc. Team goals with a fun reward can be put in place to help focus on their skills, like "??phrase of the week"?? or "??best save of the week"??.

Listening back to calls always helps. It is much easier for someone to improve if they listen back to one or two of their calls every week. The Coach or Team Leader should guide the Customer Service Representative to identify 1 or 2 strengths on the call, and one area to work on for next week. This is an opportunity for praise and recognition as well as setting goals for next week "?" both highly motivating practices.



Praise and Recognition

Praise and recognition are your most important tool to motivate your Team to perform well, to have a positive attitude and to be good Team players. Management, Team Leaders and Coaches should use this motivational tool effectively to build high performing Teams.


Kate Tammemagi is Customer Care Trainer and Consultant in Ireland. She designs and delivers customized Customer Care Training and Customer Service Programmes.

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