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To find a reverse mortgage counselor near you, search the HECM Counselor Roster or call (800) 569-4287. To find a reverse mortgage counselor that provides telephone and face-to-face counseling nationwide, use the HUD Intermediaries Providing HECM Counseling Nationwide list.
That's why in order to qualify for an FHA HECM loan, participation in HUD-approved housing counseling is required. You'll understand how reverse mortgages work, what to expect during the process, and what to look for in a lender.
Reverse mortgage counseling assists clients who seek to convert equity in their homes into income that can be used for any purpose such as, but not limited to, ongoing property taxes, property insurance, home repairs and improvements, medical costs, and living expenses.
If you meet the eligibility criteria, you can complete a reverse mortgage application by contacting a FHA-approved lender. You can search online for a FHA-approved lender or you can ask the HECM counselor to provide you with a listing.
A HUD reverse mortgage counselor can be located online or by phone at 1-800-569-4287.
Learn if you meet the reverse mortgage program requirements. Understand how a reverse mortgage can enable seniors to age in place. Review how a reverse mortgage can help fund a senior’s expenses like daily home care visits and out-of-pocket costs. Help with applying for a reverse mortgage.
Please visit the HUD Office of Housing Counseling webpage on the HUD Exchange to browse related guidance, resources, and training. Want More Information? Subscribe to our Housing Counselor email list.
A home equity conversion mortgage (HECM) is a federally insured reverse mortgage that allows you to receive a cash payment from your home equity every month, using your home as collateral. HECMs are backed by the U.S. Department of Housing and Urban Development (HUD).
If you or an older adult you know is considering a reverse mortgage, you must receive counseling from a government-approved agency. What do reverse mortgage counselors do? Reverse mortgage counselors are professionals approved by the U.S. Department of Housing & Urban Development (HUD) who can:
Mortgage Reverse FHA commissioner, HUD counseling head on serving seniors with reverse mortgages. Julia Gordon and David Berenbaum sat down with RMD at the NRMLA Annual Meeting, reflecting on ...