Reverse Mortgage Learn, Prepare, and Go Slow!
Reverse Mortgage Loan Application Process
The homeowner researches reverse mortgages using resources such as this site for several months. They next request information from a local reverse mortgage specialist. The homeowner invests one to two months meeting with the specialist in person and reviewing the loan options and other loan documents.
Step 1: Reverse Mortgage Counseling
The first step is to schedule your HUD Counseling session. Once complete you will receive a signed HECM Counseling Certificate. This is proof that the applicant has completed the mandatory counseling session with a HUD-approved counseling agency. The counseling can be completed before or after the initial application in some states but in Utah it is required to be completed before the application.