The Reverse Mortgage Process Is As Follows:

• Initial Consultation-The first and most important step is to have an in depth  discussion as to your level of interest in and reasons for considering a Reverse Mortgage.  We'll discuss your specific needs, determine which program is best for you, run a American Reverse Mortgage calculator to determine if you qualify for a  Rreverse Mortgage.  If you do qualify, I will fill out a registeration form on your behalf and forword it to headquarters for processing.             
• Home Appraisal- The value of your home  is one of the key factors in determining  your ability to obtain a Reverse Mortgage .   A qualified and HUD approved appriaser  will determine the fair market value of       your home and will determine if any repairs are needed. I will provide you  with a list of HUD approved local appraisers for you to choose from.
• Inspection-In many cases an inspection  will be required to ensure that the home  is structurely sound and that there is no  extensive termite damage or dry rot damage .  If necessary, I'll provide you with a list of local inspectors for you to  choose from.  
• Survey -Occationally a survey is re quired.  If  it is necessary, I'll  provide you with a list of  local surveyors for you to  choose from. 
• Underwriting-Upon the completion of c ounseling, the appraisal and the  inspection of your the lender will         thoroughly review all details associated  with your property and a Reverse  Mortgage. 
• Title and Closing -As with a traditional  mortgage loan, Reverse Mortgage loan  requires the process working title and  closing.  Fees associated with title closing        vary depending on the loan amount, and  the property location. 
• Delivery of Funds -Once all phases are  complete, you will receive funds in  compliance with your specified loan program.  You may recieve the payment  as a lump sum, as a monthly payment or  as a line of credit.