Once you’ve done your research on reverse mortgages and gained a more complete understanding of the product, the next step is to decide if a reverse mortgage is right for your situation. If you’re eligible (a homeowner 62 years of age or older with equity in your principal residence), this may be a quick decision or one that requires a bit more consideration. Below are the top 5 reasons people get reverse mortgages:

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If you are getting a mortgage in the near future, you will be required to have some paper work. The some paper work will need to be filed out. Other paper work you will need to bring to your loan officer. Some of the paper work you will sign included the credit report disclosure, Good faith, and Til or truth in lending.

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