Question:

How to locate a reverse mortgage lender in my area?

Answer:

A reverse mortgage lender is someone who specializes in reverse mortgages. A reverse mortgage is the most appropriate home loan product developed to suit senior Americans' need to keep on with a pleasant life style in their retirement years.

How to locate a reverse mortgage lender in your area?

You may try asking at the bank you are used to working with. They may have special reverse mortgage product for you and being in good relationship with them, they may offer you a very good reverse mortgage package.

Being a senior, you are probably not used to browsing the internet. However, the internet may be a great resource for locating a reverse mortgage lender, or educating yourself about the possibilities of a reverse mortgage product and collecting quotes and comparing prices. Only beware when deciding to contact an internet lender - do not forget to run a background check and ask for credentials.

Whichever way you choose to go, you will have to go through the obligatory reverse mortgage counseling. Do not pay a fee to undergo counseling if someone offers you paid consulting. Just locate a HUD office and their loan officers will consult you for free.

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