How to start a reverse mortgage

1. Shop for a lender that listens to you and helps you achieve your financial goals.

2. Ask your lender whether or not they are national or local.

3. Acquire a list of HUD counselors from your lender and contact a counselor.

(there are still some counseling sessions out there for FREE)

4. After you receive counseling ask the counselor to email or fax the certificate to the lender

you have chosen. This will expedite the process.

5. Complete an application either by mail or in person. Make sure your loan officer is easily

accessible to answer questions if you do it by mail.

6. The next step is for the lender to order an appraisal. The appraiser will contact you to schedule the

appraisal at your convenience

7. The loan officer should contact you once all the paperwork is completed, including the appraisal to

update you on the status of your loan.

8. The loan officer will contact you to schedule your closing.

9. Three days after closing you should receive your funds.