Reverse Mortgages Next Steps
Next Steps – Reverse Mortgages
 The following steps are what you can expect if considering applying for a Reverse Mortgage with Remington. To initiate this process, you can complete the simple Reverse Mortgage Request Form below or call us at (248) 799-5120 or (800) 200-2007.
We Talk
First, we talk, by phone or in person, to explore whether a reverse mortgage is the right loan option for you and your family. We explain how the program works, outline the benefits and discuss commonly asked questions. We review how much money you might receive and address any and all questions you have. This stage allows you to make an educated decision regarding whether you’d like to move forward.
Independent – HUD Approved Counseling
If you’ve determined that a reverse mortgage is the best option, you then must speak with an unbiased, third-party counseling agency either face-to-face or by telephone. This step is for your protection, built into the process by the government to ensure that you understand the pros and cons of reverse mortgages and are aware of options outside of reverse mortgages. After the counseling session has been completed, you will receive a Certificate of Borrower Counseling, which is valid for 180 days after the session, as proof that you’ve received the counseling.
Appraisal & Loan Review
Next, we arrange for an appraisal (no out of pocket expense) to determine the objective market value of your home.Once the appraisal is complete your loan will be reviewed.
Closing
Soon after your loan is reviewed, a closing will be scheduled. It can be done in our office or your home, whichever is most convenient for you.
To speak with some to initiate this process, please call Remington Loans at (800) 200-2007 or toll-free at (248) 799-5120. Or, use the confidential Reverse Mortgage Request Form below:
Reverse Mortgage Request Form
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