6 Questions You Should Always Ask a Reverse Mortgage Lender in Dallas So, you’ve decided on getting a reverse mortgage and are meeting with a lender shortly. While you may understand the basics, there are certain questions you should ask in order to clarify any details that could come as a surprise down the road. Be sure you ask the reverse mortgage lender the following 6 questions before making a decision: ● How do I get HUD-approved counseling for an HECM loan or reverse mortgage? ● How much can I qualify for and what factors influence that amount? ● Once the loan is closed, are there any restrictions on how I can use the money? ● What happens to the reverse mortgage if I pass away? ● What payment options do I have? A line of credit, lump sum, term payment, tenure payment, or a combination? ● What types of fees should I anticipate paying? Ask every lender on your list these questions as part of your “comparison shopping” exercise. For more information about choosing a reverse mortgage lender, contact the Michael Harrell Group today. https://maps.google.com/maps?cid=17781812487501853909 https://local.google.com/place?id=17781812487501853909&use=posts&lpsid=CIHM0ogKEICAgICG9eKWNA