. . . is a special home loan that enables you to convert a
portion of your equity in your home into cash. Although
there are different types of reverse mortgages, all of them are
similar in certain ways:
You remain the owner of your home.
You are responsible for your property taxes and homeowners
You are responsible for making
repairs to your home.
The loan is not due until you
sell or leave your home.
Since your home is probably your
largest single investment, it’s smart to know more about reverse
mortgages and decide if one is right for you.
Preparing for Counseling
The first step in the process is to check to see if you have enough equity in your home to
justify a reverse mortgage. The best way to know is to contact your lender. A
reverse mortgage calculator will give you a quick estimate.
The next step is to call to set up a one-on-one counseling
appointment with our reverse mortgage counselor,
Kevin Gillette. You can reach
Kevin at 360-690-4496 ext 101.
Kevin will send you a
set of materials before you meet with him.
These materials will help you
prepare for the session.
The face-to-face counseling session is the final step in the
reverse mortgage counseling process. The session will take
approximately one hour.
At the end of the appointment, you will receive a certificate
that indicates your completion of counseling.