Getting Started With Your Reverse Mortgage
Contact your Resource Reverse Mortgage Loan Officer — 407-620-5443 or toll-free at 800-779-5054.
Review and Determination — "Run the Numbers" to determine how much might be 
available to you. For this step, we will need Names and Birth Dates of Owners, Property Address, Estimated Value of the Home, and any Liens on the Property.
If the figures we provide you are acceptable, then go forward by submitting an Application. With the Application, your Specialist will need copies of:
- Your recent Mortgage Statement or Coupon
- Your Homeowner's Insurance Declaration Page
- Your Social Security Card(s)
- Your Drivers License(s)
- A recent utility bill
- Your Flood Insurance, if applicable
Hold the Counseling Session with an FHA-approved Reverse Mortgage Counselor. Submit one signed Certificate of Completion to your Resource Reverse Loan Officer.
Appraisal — Your property will be appraised by an FHA-approved Appraiser who will not only establish "fair market value" for the location, but will also note any repairs or other conditions which may require attention.
Loan Approval — Underwriters carefully review all the Application documents and those files pertinent to the property such as Title and Appraisal. When all legal matters and requirements are satisfied, the Loan is Approved.
Closing — All documents are signed either at your home or in our office, whichever is most convenient for you.
3-Day Right of Rescission — Federal law gives every Borrower three business days (days the US Post Office is open) to change their mind and rescind the transaction. Rescission nullifies the contract and restores all parties to their position before Closing occurred.
Funding — Your money is made available to you on the fourth day after Closing.
Your Resource Reverse Team will manage the entire process from start to finish. You won't have to worry about the administrative details!
Call us now at 407-620-5443 or toll-free at 800-779-5054 to speak to one of our knowledgable Loan Officers.
