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Telemarketing Reverse Mortgage

I have been engaged with cold calling for reverse mortgage for about a year and a half now and still I'm at a lost on how to set-up an appointment with senior citizens. Anybody has ideas to make this work, please let me know. My people are getting 3 appointments only for 7.5 hours of dialing. I would appreciate any feedback and I'm also open to posting the script we use here on this thread. - by eugene_biggs
How targeted is your list of prospects? - by Mikey
Actually the list that we're calling is customized already. Probably 95% of them are 62+ years old, 50% have mortgage balances... I don't know if it's our approach or the general overview of the product itself. - by eugene_biggs
What is your approach? - by Mikey
This is the script that we use...

Good morning, May I speak with Mr. or Mrs. ____________ please.

Hello ____________, this is ____________ with the ______________ and we’re located right here in _________________.

I really appreciate you taking my call.

Mr/s. ____________, we're not selling you anything here okay? We're just calling to give you information about the federal government's program for senior homeowners.

You are a senior homeowner, right? (WAIT FOR RESPONSE)

Mr/s. _____________, have you heard of Home Equity Conversion?


You know what a mortgage is right? With a regular mortgage, you have to pay your dues on a regular basis; and at the same time, it might be possible that your house will be taken away from you if you weren’t able to pay on time. Is that correct Mr /s. __________? And that’s probably the reason why it’s not practical to get a regular mortgage especially if you’re retired.

The beauty of our program is that you can get funds but you don’t have to pay for any monthly dues. Also, you don’t have to worry about losing your house.

Let me ask you a question Mr/s. _____________, assuming that you get $2,000 that you don’t have to pay for, how would you spend it? (No response give examples)

Again, we're not selling anything and there's no obligation to sign up for anything.

This program is called Home Equity Conversion – a program specifically designed for seniors such as yourself. Again, Mr/s. ______________, this is not the regular mortgage that you and I don’t like.


Since you own a home, we are willing to help you with 50-80% the amount of your home. By the way, this is under the FHA (Federal Housing Authority) and there are never any income taxes and no monthly payments involved. You can actually do home improvements, pay off credit card bills, you could buy a new car or take a vacation if you'd like.

It is also a way to use a portion of the equity in your house to get a lump sum payment or cash every month that you never have to pay out as long as you live in the house.

Mr. _____________, there are three main factors that determine how much you’re going to get from this program. And these are: your mortgage balance, your home value and your age.

Basically the Specialist will give you an assessment of how much you are going to acquire from this program based on the information that we get from you.

We're just calling to ask if we can have our State Licensed Specialist give you a call and just explain to you the program. Is it okay if we have the SLS call you at 10AM / 4PM?(If not, “When would be the best time to contact you?”)

I would just like to ask you 4 quick questions:

How much is your mortgage balance?
How much is your home value?
When is your birthday / year of birth or How old are you?

Is anyone else on the title besides you?

Thank you Mr/s. ____________, I appreciate this additional information and it will help our Specialist give you a correct assessment for this program. Before I go, are there any questions you have at this time? (if you can answer it do so, otherwise let them know you will jot that down and make sure it gets addressed when the Specialist calls them)

Again, this is not the typical mortgage, you are not obliged to sign up for anything and the SLS will just call to inform you how this program can specifically help you based on the information that you provided.

Thank you for your time and have a good day! - by eugene_biggs
I'm not really familiar with it. Correct me if I'm wrong but does it have something to do with selling the product to the