Posted by jm on 6/21/07 9:36am
Msg #196236

Reverse Mortgages

Has anyone notarized these types of loans? Do these loans have everything that other loans do-- like Deeds of Trust/Mortgages, TIL, Note, etc....? Is there a market out there for them?

Reply by Dorothy_MI on 6/21/07 9:38am
Msg #196238

Short answer

Yes. Just have borrowers sign every document in the package even if it is a duplicate.

Reply by Keystone/PA on 6/21/07 9:38am
Msg #196239

Check out the search tab and look up message #33325 and also look at http://www.reversemortgage.org/

Reply by jm on 6/21/07 9:43am
Msg #196240

Ok thank you for your input.

Reply by Bryan Lee on 6/21/07 9:53am
Msg #196243

They can be quite long, and you have to be patient since they our the older generation.Ones with trusts take more signatures. I love doing them

Reply by jm on 6/21/07 10:15am
Msg #196244

Claudia check your PM n/m

Reply by GLRMbile on 6/21/07 10:27am
Msg #196245

Re: Claudia check your PM

I also enjoy doing reverse mortgages I have met some really nice older people

Reply by Margaret_FL on 6/21/07 2:30pm
Msg #196307

There are 2 mortgages and 2 notes that have to be signed. Some loan companies I sign for make you have 2 entire loan packages signed. You print 3 copies, 1 for borrower and 2 for loan company. They can take 3 hours plus to sign. I get $300 for these.