Applying for a Reverse Mortgage is a simple procedure.
You will be asked to furnish copies of the following items:
1. Some form of Picture Identification (Drivers License, State ID card, or Passport)
An expired Drivers License or Passport is acceptable.
2. Your Birth Certificate(s)
3. Your Social Security Card(s) or Medicare card(s)
4. Declaration Page of your Homeowners Insurance Policy (unless your property is a condominium)
5. Your most recent Property Tax Bill (if you have it) Not required, just makes processing a bit easier.
6. A recent statement on your present mortgage (if you have one).
We usually obtain your initial information by telephone. That allows us to prepare all of the Goverment required paperwork. After the paperwork is prepared we will arrange for you to sign everything.
The next step is arranging a Reverse Mortgage Counseling session. Some agencies provide this service free of charge. You may use any agency you wish as long as they have a H.U.D. / F.H.A. Certification. If you have no preference we will recommend a list of counselors we believe to be reliable. Counseling is a H.U.D. requirement prior to a lender starting the processing of your Reverse Mortgage Application. H.U.D. wants to make sure you understand how a Reverse Mortgage works. In years past some Seniors were victimized by dishonest Financial Advisers who assisted them in obtaining a Reverse Mortgage and then recommended inappropriate investments.
The final step is obtaining an Appraiser assignment and a Case Number from HUD/FHA . We take care of both those items for you.
That's about all there is to it. From application to closing is normally 21 to 45 days. We provide the entire application package including sample loan documents either by e-mail or regular mail. We also have free printed Reverse Mortgage booklets you can get either regular mail or via e-mail.
If you're ready to get started call the number below: Reverse Mortgage Fees are negotiable - Ask about our Low Fee Guarantee..
Ken Terrill
Reverse Mortgages since 1994
Mon. thru Fri. 9:00 to 5:00 call: 800-686-0238
Evenings or weekends call 800-811-2738 - ask for Ken
E-mail questions to: ken@ampy.com