Step 1 - Initial Visit - I believe the initial vist to your home is essential. This gives us an opportunity to see yourhome and for you to meet us. You need a chance to meet us and feel comfortable with us. This a very important decision for you and you need time to discuss this with your spouse.
Step 2 - Application - After you have invited back to your home we will and fill out the application. We will need to photocopy your drivers license, social security card, homeowners insurance policy and a termite control if you have one. The company needs copies of all these documents along with the application.
Step 3 - Counseling - HUD insisit that all Reverse Mortgage applicants receive counseling from an approved counselor. This counseling is available by phone. This insures you understand everything you need to know about a Reverse Mortgage. After you receieve the Certificate of Counseling by the counselor, we ask that you call Ron AND I will pick up the certificate.
Step 4 - we will order an appraisal by an FHA certified appraiser to determine the value of your property.
Step 5 - A title policy will be ordered on the property.
Step 6 - The loan will be submitted to underwriting for approval. After approval we will order a survey.
Step 7 - After your loan is aproved, Crown Financial will schedule a time for you to sign paper work with a closing agent.
Step 8 - Disbursements of loan funds - After a three day righ of recission period the closing agent will send you funds (or you may pick them up) if you are to receive any cash payments. Monthly checks are usually sent at the end of the month. All existing loans will be paid off.
Step 9 - Start enjoying retirement more in 2009 and let your house pay you.
Click on th page entitled RM Calculator to determine how much you would receive from a Reverse Mortgage.
Call now to set up an appointment with Ron at 352-665-1300.