The Reverse Mortgage Process...

Step 1. Recognition

Wow, we can do a Reverse Mortgage?!!!  This is when you find out that a Reverse Mortgage program is available to senior citizens like you. 

Step 2. Action

You call Chris Plante at (800) 698-6014 to find out everything you need to know to make a decision on whether a Reverse Mortgage is right for you.

Step 3. Consumer Counseling

A third party counseling class is required by HUD.  In this short class a counselor explains the different options available to you.  We'll provide you with a comprehensive list of agencies you can choose from, printed right from the HUD website!

Step 4. Apply for your Reverse Mortgage

Application is a very simple process that can be done over the phone or in person.  There is always plenty of time for questions!

Step 5. Processing & Underwriting your reverse Mortgage

This is when our office really gets to work.  We order the appraisal, title and escrow.  We put everything together and make sure title is the way you want it! 

Step 6. Closing & Funding

Your Reverse Mortgage is approved.  Next is to have you sign the note and deed and then fund it.  The money is deposited into your account.  It's time for a visit to the soda fountain!

Step 7. Repayment

Relax.  There are no payments due on your Reverse Mortgage for as long as you and your spouse live in your home.  You two can live there payment-free for the rest of your lives.  Enjoy your golden years, you worked hard to get there!

Christopher M Plante, California Dept of Real Estate Broker License 00902661