Getting a reverse mortgage is really a very simple and easy process. It's made of multiple steps. They take time but are not difficult. Here are the steps:

1. The first and most important step is to contact us for a Free Analysis to determine if a reverse mortgage is the correct next step for you. It may be the perfect option for you or it may not. If it is not, we will offer alternatives. If it is, we will discuss your financial goals, determine how much money is allowable based upon your age, your home's value, and current interest rates. Included in our discussion are the possible cash out options and which may be best for your situation. You may choose a monthly payment, one up front lump sum, or a line of credit. Additionally, we will answer all of your questions to your satisfaction.

2.Taking application. We may meet in person or we'll send an overnight package to you with application and disclosure forms. Whether we meet in person or not, we will talk you through the entire application. If we don't meet in person, we'll be on the phone discussing every step. Once the application is complete, you will send it back to us in the included envelope.

3. After we receive your application, we immediately order the title company to perform what is known as a preliminary title report. Once that returns to us, and assuming there aren't any unknown clouds on title, we order the appraisal. The appraisal is necessary to determine the actual value of your home. Additional processing items are covered, such as flood plain check, but nothing of an obtrusive manor. During this period you will be required to speak with a HUD approved counselor to discuss reverse mortgages. We will furnish you with all contact information. This is one of the checks and balances HUD requires, so you, the consumer, are protected.

4. Closing: Once the appraisal comes back and all standard loan processing items are covered, the lender sends the closing package to the title company. The title company is a neutral third party and is necessary to insure title and conduct the closing of the mortgage. The title company will send a notary to your home to sign closing documents . Once you sign your closing documents, you can sit back and relax. The loan will close within 3 to 5 days and you will reap the benefits for the rest of your life.