Reverse Mortgage Borrower Checklist Still Good for a short while
You won’t need to provide all of the items on the list below to support your reverse mortgage application but you must act fast. Reverse Mortgage guidelines are changing March 2, 2015. The changes may affect your ability to qualify and you will be required to provide many more financial documents such as tax returns, income statements & more.
1. Identification (2 pieces, all borrowers)
· Drivers License or state issued ID or current passport
· Social Security Card or Medicare Card
2. Proof of Homeowner’s Insurance
· Name and or phone number of insurance carrier
3. Credit Card
· Necessary for ordering appraisal
4. Living Trust
· If title to your home is in a trust, bring in all of your documents
5. Homeowners Association
· Exact name of Association and contact information for President or Secretary.
6. Mobile or Manufactured homes built after July, 1976 (real property)
· Engineering inspection report (if any)
7. Contact Information
Name, address and phone number of a family member or friend who would know your whereabouts if your lender was unable to reach you for some reason.
8. FHA Counseling Certificate - Signed by all borrowers.
Currently the application process is quite simple so if you are a homeowner over age 62 and concerned that you will outlive your savings and retirement dollars or you are interested in preserving your assets.....don't delay. A reverse mortgage may be a good solution by unlocking the equity in your home and increasing your cash flow. The new FHA Guidelines will make it more difficult to qualify.
This short video explains why you should act now.
Please take a moment to watch it.
Over the years, many happy reverse mortgage clients have contributed to my long list of testimonials.
Reverse Mortgage Borrower Checklist is still good for a short while.
Don't procrastinate! Call 800-617-3105.