Let’s start right off with a disclaimer! I’m a Notary Public who has guided many clients through the signing process of their Reverse Mortgage loan applications and loan documents. I am not an attorney. I do not offer legal or financial advice. Briefly, my job as I meet with the borrowers is to verify their identity, guide them as to which documents are to be signed, and provide a very succinct description of the documents. I’m not a Reverse Mortgage expert, but I see the value of these loans for many people.
My intent in this article is to raise awareness of the process so that homeowners can decide if these loans are the right alternative for them, their family, or associates. I will give you just some of the basics of the “Who, What, Why, Where, and When” of obtaining a Reverse Mortgage.