Understanding the Process of a Reverse Mortgage
1.Call me to set up a free consultation for reverse mortgage. (828) 273-3549
This is an important and easy first step, with no pressure or obligation. It's an opportunity to get answers to your questions, including an estimate of how much money may be available to you and at what rates.

2.Obtain independent reverse mortgage counseling.
This service is required by the U.S. Government to make sure you've had all your questions answered by an independent, third party. Counselors must be approved by the U.S. Department of Housing and Urban Development (HUD). I will provide you with a list of 11 for you to choose from.

3.Fill out an application.
You'll need to provide your mortgage counseling certificate from step #2. You'll also need to have copies or originals of key documents, such as your birth certificate and photo ID.

4.Have your home appraised.
This is to determine your home's value and is standard procedure for any mortgage. A home inspection is usually required as well. I will have to order this thru an agency so please do not order on your own.

5.Complete your closing.
Final paperwork is signed. Qptions on how you can receive your reverse mortgage funds (for example, lump sum or line of credit), this is when you'll make your choice.

Important Documents You'll Need.
There are several key documents you'll need to gather in order to complete your reverse mortgage application. It can be helpful to have these documents on hand for when you first meet with a MetLife Bank Reverse Mortgage Consultant, as well (copies or originals are fine). They include:

1.Social Security number
2.Birth certificate
3.Picture ID (e.g., driver's license, passport, or state-issued ID)
4.Most recent property tax bill
5.Homeowners/hazard insurance policy (flood insurance policy if applicable)
6.Death certificate for any deceased property owner whose name still appears on the title
7.Reverse mortgage counseling certificate (to complete your application)