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Steps to receiving a reverse mortgage counseling certificate: The list must include all HUD-approved counseling intermediaries that can provide telephonic counseling, as well as five (5) counseling agencies within your local area, state or both, with at least one of the local agencies located within a reasonable driving distance for the purpose of face-to-face counseling.
“The addition of legal counseling to our existing Reverse Mortgage Counseling Program will help protect our seniors, and will be another tool in Bergen County’s continuum of services that helps our.
Reverse Mortgage Counseling Gaining access to a powerful financial tool For those homeowners who qualify, a Home Equity conversion mortgages (hecm), better known as a reverse mortgage can be a useful money management tool, especially in retirement.
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In order to qualify for a reverse mortgage you must be at least 62 years of age. The federal government also requires that you participate in a reverse mortgage counseling session with an approved non-profit agency. GreenPath is certified and our reverse mortgage counseling can be completed over the phone or in person.
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During reverse mortgage counseling session, a counselor will explain how reverse mortgages work, including how you can access your equity, costs, tax implications, benefits and drawbacks. The goal is for you to understand your options so you can make an informed decision on whether a reverse mortgage is right for you.
Certified Reverse Mortgage Counseling available Senior Financial Literacy also available. Contact us for more info: Totally Free Inc. (866) 731-FREE (3733) toll free
Reverse mortgage counseling can be done over the phone or it can be done face-to-face with a regional agency. After the counseling session, the counselor will mail a signed copy of the HECM Counseling Certificate to the homeowner. This certificate is presented to the lender with the reverse mortgage application. The loan application process cannot begin until counseling is completed and a fully executed counseling certificate is provided to the lender.
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The HUD Intermediaries Providing HECM Counseling Nationwide page has moved. Please visit the HUD Office of Housing Counseling webpage on the HUD Exchange to browse related guidance, resources, and training.
HOPE is a HUD-approved housing counseling agency, and has a team of expert reverse mortgage (Home Equity Conversion Mortgage or HECM) counselors who are qualified by HUD to provide the official HECM counseling needed in order to apply for a reverse mortgage.