That's the first question I receive from clients and it's an important one as there are many places one can turn to when they decide to purchase a reverse mortgage.
My advice is to talk with two companies and spend the time finding out the following;
1) How much do I/We qualify for based on our ages, 2) Does my property qualify for an FHA program? 3) What are the costs to close this loan? 4) Can I finance all the costs of this loan or do you have an application fee? 5)How long does it take to close a loan? 6) Where can I go for the mandatory couseling? 7) May I close the loan in my home? 8) Which bank will be servicing my loan after closing 9) Will you be around after closing so I can ask questions? 10) What are the names and phone numbers of past clients that I may speak with to learn more about you and your company?
This list is a good start for those interested in learning about the process.
