I have a couple who applied recently for a reverse mortgage.  They are a wonderful couple who are very excited at the possibilities now available to them with their increased cash flow.

We’re very close to closing their loan and funding it for them.  They’ve completed their counseling, the appraisal is all done, and just about all the Ts have been crossed.  However, an unusual set of circumstances came up last week that made it in my clients’ best interest to switch from one lender to another.  I contacted them Friday and presented the situation to them.  It had to be their decision.  I happen to think they did the absolute best thing, but I did not want to push them into anything one way or the other.

Since all the legwork is already done, it’s a simple matter of paperwork.  We simply got their signatures on some updated documents, and off it goes back to my processor.  The counseling is already done, the appraisal is done.  We simply need to switch the FHA case number over and process the new documents.  Even with this change, the loan will close very shortly.

You have a distinct advantage in working with me.  If ever a situation comes up, even in midstream, you can easily switch from one lender to another without having to start from scratch in building an entirely new relationship.