theprocess

Reverse Mortgage Process:

The whole process for a reverse mortgage takes about 30 days. The first thing you need to do is have me send or bring you a quote, then you need to do a HUD reverse mortgage counseling session. I will bring you some info on this counseling session when I come to your home. After the counseling is done and the loan application is signed, we will order the title report and appraisal on your home, then when we those are complete the underwriter will review everything.

After the loan is done with the underwriting process and as long as their are no questions the underwriter has we will prepare the loan documents for closing and set up a time for our escrow officer to come to your house to close the loan. Three days later the loan will fund and the process will be complete.

Below is what we need from you:

Reverse Mortgage

• Copy of your drivers license or state ID card

• Copy of your Medicare or social security card

• Copy of your mortgage statement (if applicable)

  • Copy of your Trust (if applicable)

  • Signed copy of your HECM counseling certificate