reverse mortgage counseling requirements

Requirements for a Reverse Mortgage | Pocketsense – The FHA requires that homeowners sit down with an HECM counselor approved by the Department of Housing and Urban Development before signing up for a reverse mortgage. HUD — which oversees the FHA — wants to know that you’re educated in all the benefits and costs of the mortgage you’re about to commit to.

HUD FHA Reverse Mortgage for Seniors (HECM) | / U.S. – 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. Lenders. To find a reverse mortgage lender, use the HUD Lender List Search.

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Reverse Mortgage – Learn From America's Leading Educational. – Reverse Mortgage Guides is a reverse mortgage educational website. Our goal is to help explain many of the pros and cons of a Home Equity Conversion Mortgage (HECM) for homeowners. We publish articles and tools for older Americans who are considering a reverse mortgage and want to become further educated before making a decision.

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Reverse Mortgage Counseling Frequently Asked Questions – Reverse mortgage counseling is an educational session to help seniors be knowledgeable about their options. It helps them be able to make the best decision concerning their situation. It helps them be able to make the best decision concerning their situation.

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PDF Chapter 4. Reverse Mortgage Counseling – CHAPTER 4. REVERSE MORTGAGE COUNSELING 4-1 Reverse Mortgage Counseling and Education. A reverse mortgage is a mortgage that pays a homeowner loan proceeds drawn from accumulated home equity and that requires no repayment until a future time. Reverse mortgage counseling assists seniors who seek to convert equity in their homes into

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Reverse Mortgage Eligibility Requirements & Qualifications. – Basic Reverse Mortgage Requirements. Age Qualifications: You must be at least Age 62 (or above) to qualify for a reverse mortgage. However, if your spouse is under 62, a reverse mortgage may still be possible because of new rules that allow exceptions for non-borrowing spouses.

PDF Reverse Mortgages – Consumer Information – a single-purpose or proprietary reverse mortgage. The counselor also should be able to help you compare the costs of different types of reverse mortgages and tell you how different payment options, fees, and other costs affect the total cost of the loan over time. For a list of counselors, visit or call 1-800-569-4287.

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