What is A Reverse Mortgage?

Home Equity Conversion Mortgages (HECMs), also known as Reverse Mortgages, were created over 25 years ago to help Americans age 62 and older convert a portion of their home equity into tax-free money to improve their lifestyle in whatever way they choose. They can be a fantastic tool in funding the retirement and lifestyle you or a loved one deserve.

Our Simple Reverse Mortgage Process:

Step 1:
Connect with a Reverse Specialist

If you’re considering a Reverse Mortgage loan, the best way to determine if it is the right thing for you is to simply give us a call. A Southern Trust Reverse Mortgage Specialist will look at your current situation and financial objectives, then discuss the best options for you. This consultation is risk-free and free!

Step 2:
Mortgage Counseling and Application

The second step is one that is required by HUD as a protective measure for all Reverse Mortgage applicants. This will be Reverse Mortgage counseling with a licensed professional. Next, you will complete your Reverse mortgage loan application with the help of a Southern Trust Mortgage Reverse Specialist.

Step 3:
Loan Processing and Loan Approval

The next step will be the appraisal. Your Reverse Mortgage Specialist will schedule an appraiser to come to your home and determine the value of the property. This is required for all mortgage applications before submitting the underwriting for review.

Step 4:
Clear to Close on Your Reverse Mortgage

You will be contacted by your Reverse Mortgage Specialist once your loan is clear to close and final documents can be signed. At this time, any other questions you may have will be answered. Congratulations!