I'm Ready To Move Forward, What's Next?

When you work with Brian and Sue, you can be assured that they will personally walk you though every step of the reverse mortgage process. Your questions will be answered honestly and without a lot of “industry jargon”. We will move at your pace, not ours. After all, it’s YOUR reverse mortgage.

The Learning Process – Feel free to ask as many questions as you like. We want you to be completely comfortable with us and with the reverse mortgage program. We can prepare a scenario tailored to your specific needs and even show you options for how to take the funds based on your needs and goals.

Counseling – Prior to obtaining a reverse mortgage, you will be required to participate in an informative counseling session. The counseling will be done by a HUD-approved counseling agency. The counselor will go over the features and requirements of a reverse mortgage, answer any questions you may have, and discuss alternatives to a reverse mortgage with you. Upon satisfactory completion, you will be issued a certificate and we can move forward with the next step.

Application and Appraisal – After counseling, you are ready to begin the application process. You will fill out the necessary forms and pay for an appraisal of your home. Relax, we’ll take it from here.

Processing and Underwriting- Behind the scenes, all the components of the file (appraisal, title work, etc) are assembled and the underwriter reviews the file for final approval.

Closing – Once the final approval is issued, you are ready to close. The lender schedules a time for you to complete the final paperwork.  Once all papers are signed and the mandatory three day right of rescission has passed, you receive your lump sum, access to your line of credit, or a schedule of monthly payments.

Congratulations! HERE’S WHAT TO DO NOW!

Contact us for a no–cost or obligation consultation. We would be happy to discuss the Reverse Mortgage program with you and assist you with determining if it is the appropriate solution for your personal situation. You can contact Sue Haviland at 443-677-0389 or e-mail shaviland@ireverse.com Or Brian Sacks at 443-324-8424 or e-mail bsacks@ireverse.com