The Process of Getting a Reverse Mortgage Loan
Most, but not all, reverse mortgages today are federally insured through the Federal Housing Administration’s Home Equity Conversion Mortgage (HECM) Program.
This advertisement talks about HECM loans only. Further, this information is only valid in the State of Colorado.
Obtaining a reverse mortgage is a fairly simple process.
But there’s more to it than just filling out the application.
There are certain steps both you and the lender will need to take.