Florida Mortgage Blog

More on Reverse Mortgages and the questions that I will ask

January 2nd, 2018 8:28 AM by Preston Ware

Here is some more information on Reverse mortgages and the kind of questions that will be asked of the borrower:

These are all very straight forward:
1.) Date of Birth
2.) Property address
3.) Approximate amount owed
4.) Approximate value
5.) How do you want your money?

Once these questions are submitted to my favorite Reverse mortgage source, it will take about one business day for them to return with a very snappy 67 page detailed attachment.

This attachment will detail how much you qualify for along with estimates of approximate closing costs. Also in the middle of it there will be a list of housing counselors in your area.

They all pretty much cost $150 to complete the course from an accredited counselor.

Once you are complete there, you are ready to go get your mortgage which is actually a very simple process. Please call me for details 561-329-0075


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