rEVERSE MORTGAGES

BY ROBIN

Home Loan Executives
HomeReverse Mortgage UsesTypes of Rev. MortgagesQuestions & AnswersHelping a Family MemberRev. Mortgage ProcessHelpful linksRequest Free Information
Home Loan Executives

Reverse Mortgage Process

 

COUNSELING:  You will need to have a counseling appointment with a counselor in your area before I can take your application.  This can be free of charge or it can cost up to $125 depending on the counseling agency. Many times the counselor will come out to your home so you don’t have to drive.  He/she will visit with you for approximately 40 minutes to make sure I have explained the program properly to you and insure no one is pressuring you to apply for the reverse mortgage (like a family member or financial advisor). I have supplied you with a list of counselors for you to choose from.  Please make sure you request the HECM counseling.  I will need the ORIGINAL CERTIFICATE at application.

Counselors Company Name: _____________________________________________
Counselors Name: _____________________________________________________
Phone Number: _______________________________________________________
Appointment date and Time: _____________________________________________


APPLICATION
:  I will come to your home and go over everything with you.  If at that time, you wish to start your Reverse Mortgage, we can.  Many people like to read what I leave them and digest what I told them prior to doing any paperwork at the initial meeting.  I will meet with you again if you like to take your application and we will get started.


APPRAISAL:  I will have an FHA appraiser contact you in the coming days to set up a time to visit your home.  This should only take approximately 15-20 minutes in the home.  He is there to establish the value of your home in comparison with the similar homes in the area.  FHA does not allow you to order the appraisal.

Name of Appraisal Company: ___________________________________________
Phone Number: ______________________________________________________
Date of inspection: ___________________________________________________

After the appraisal is complete, it goes to the underwriter and should take about two weeks for the closing.

When your loan closing documents are sent to the title company they or I will give you a call to set up a convenient time for your closing.

After the loan closes you may be receiving proceeds from the loan.  Your title company will arrange how to get these funds to you: wired into your account, a check can be mailed to you or you can pick it up.

Of course during this process should you have any questions please do not hesitate to call me!  You can reach me on my cell at 520-440-4387 or toll free at 1-888-230-5559.  If you have access to email, feel free to contact me at rloomis747@comcast.net


Thank you for putting your trust in me, I will work very hard to make sure I have earned that trust.

Most Sincerely,

Robin Loomis
Reverse Mortgage Executive


Notes: _________________________________________________

_______________________________________________________

_______________________________________________________

_______________________________________________________

_______________________________________________________



azreversemortgage_06.jpg.JPG

Hours:
8:00am – 6:00pm
Monday - Friday
Saturday - By Appointment