Second Mortgage

How can you get reverse mortgage in San Antonio, TX?

Suppose you have a home in San Antonio, TX on which you have quiet a bit of equity. Now you would like to get a HECM Reverse Mortgage and need a lender that specializes in Reverse Mortgages in Texas.

Well, for a start The National Reverse Mortgage Lender’s website is a good source in giving a list of lenders in San Antonio. Also, go to www.texasreverse.net and find someone who can work on your Texas Reverse Mortgage.

In Texas, as in most other states, a mortgage document must be signed by the owner of the property, approved by a notary public, and recorded with the Recorder of Deeds or County Recorder. The lender has the right to foreclose the mortgage and sell the property to recover the loan if the borrower fails to make timely payments as agreed to in the promissory note.

During the time that the property is under a mortgage, the title to the property remains with the lender though the borrower can continue occupation. The title is transferred from the lender to the borrower upon complete repayment of the mortgage. There are both mortgage lenders and mortgage brokers in Texas. Some financial institutions in Texas perform the roles of both lenders and brokers.

Your next best bet could be Griffin Financial Mortgage. The company specializes in reverse mortgages in Houston and San Antonio area. They are the largest originator of reverse mortgages in the South West for the past three years. They do not ask for any money up front. Most of their clients are from referrals from their past clients.