Whenever you are applying to use a reverse mortgage calculator to work out the costs of buying a property or home, you may have to declare all your possessions so that they can be verified. These possessions are usually your vehicle, antiques, jewelry, bonds, fixed deposits and property or collateral. These are everything that you own and has a value so that they can be sold for recovery purpose. In case the loan amount if big then you may also have to provide with a declaration of personal assets. You may also have to show a proof of your income to get a reverse mortgage . The procedure is usually done after you get your papers documented so that everything matches your income. This is usually done when you apply for the mortgage loan so get looking for that all important reverse mortgage information.