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M&T's Reverse Mortgage Process
 Obtaining a reverse mortgage requires a number of steps as is the case with many financial transactions. Below is an overview of the process you can expect when applying for a reverse mortgage with M&T Bank:
Initial Discussion
Whether it’s in person or over the telephone, one of our M&T reverse mortgage specialists will talk with you about how a reverse mortgage can compliment and enhance your current financial plan. We’ll share with you how a reverse mortgage works, how much money you are eligible to receive, and answer any questions you have. You may decide to have a friend or family member present, and we encourage that if it’s your wish. The goal of this meeting is to help you make an educated decision as to whether a reverse mortgage is right for you. Then you can decide whether you want to take the next step.
 Counseling
If you decide to proceed, HUD-approved counseling is required. This ensures that you’ll have an independent counsel review the program and its costs with you, and answer any questions you may have. Additionally, they’ll review any other government or non-profit programs that you may qualify for. This is a safeguard the government has built into the process to ensure you’re getting all the facts.
Applying
After you’ve completed counseling, you can apply for your reverse mortgage. This can be done in person or over the telephone with an M&T reverse mortgage specialist. The specialist will ask you a series of questions and complete the application for you. You’ll need to sign it and will receive several loan disclosures at this time.
Appraisal / Inspection
Once you apply, an appraisal will be ordered to determine the market value of your home.
 Underwriting
After the appraisal and other supporting documents are received, an underwriter will then review your application.
Closing
The final step of the process is the mortgage closing. The mortgage closing can take place in the comfort of your home if that is your wish.
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