The only thing constant in life is change and like everything else the Reverse Mortgage program has been changing and evolving over the past several years.
The principal limits have changed, the amount you can draw during the first twelve months has changed and coming March of 2015, the documentation requirements will be changing.
Will these changes affect your ability to qualify for a reverse mortgage in Fresno, CA? A licensed loan officer will be able to determine if you qualify by putting a few pieces of information into a Reverse Mortgage Calculator for Fresno California and checking to see if you have enough equity to accomplish your goals.
To find out if the new reverse mortgage is right for you it's important that you sit down with someone and go over all the details to see which, if any of the products meet your particular needs.
While you have the option of calling one of those 800 numbers and working with someone over the telephone and via the US Mail system, you will have a much better experience if you meet with a local Reverse Mortgage Loan Officer in your home, face to face. A good reverse mortgage loan officer in Fresno, CA will want to take a look at your home to make sure there won't be any surprises during the process. Nothing is more frustrating than having to pay an appraiser to come back for a re-inspection because your water heater isn't double strapped. A personal inspection of your property by the loan officer will alleviate many of these issues which will be missed by the random loan officer on the telephone.