What Documents do I Need to Complete a Reverse Mortgage in San Antonio, Texas?

Following is a list of documents that will be required to complete a reverse mortgage application.

1. Original signed copies of all pages of the loan application and all disclosures all completed in blue ink and dated the same date on all forms.
2. Original Reverse Mortgage counseling certificate provided by third party reverse mortgage counselor
3. Proof of date of birth (driver’s license or birth certificate) and social security number (social security card or medicare card). (call if neither are available.)
4. Copy of recent homeowner’s insurance bill or name and phone number for insurance agent.
5. Copy of your survey of the home. This would normally be located in the package you received from the title company when you first purchased or last refinanced your home. The survey must be readable and have the surveyor’s seal. Please note that you must have a survey redone if you cannot locate it or you have significantly made structural changes to the home since it was last done.
6. Original death certificate of spouse if a widow(er). This is needed only if deceased spouse has not been removed from title to property.
7. Copy of your current mortgage statement/coupon book or names, addresses and account numbers for all mortgage debt and liens on the property.
8. If the property is held in a trust please provide us with a copy of the trust agreement.
9. If the person signing has Power of Attorney for the borrower, please provide us with a copy of the Durable Power of Attorney.
10. If the property previously had a mortgage balance that was paid off in full, please provide us with a copy of the satisfaction of mortgage, release of lien or warranty deed.
11. Check for $350 to Legacy Mutual Mortgage to cover cost of appraisal. (This cost can be rolled into your loan and this check is not cashed unless the client decides not to continue with the process after the appraisal has been completed.)

To start the Reverse Mortgage process, contact Melinda Hipp, Reverse Mortgage Specialist, at (210) 492-4900 or melinda@legacymutual.com. Visit Melinda at http://www.texasreverse.net.