Reverse Mortgage Counseling

reverse mortgage advisor connecticutPrior to being approved for a reverse mortgage, HUD’s Federal Housing Administration (FHA) requires each borrow to participate in a counseling session with an approved agency. These not-for-profit agencies are funded by the federal government and work closely with both the FHA and lenders to ensure a smooth process.

The goal of this session is not to steer a potential borrower in one direction or another, but to make sure they clearly understand all aspects of a reverse mortgage.

Please take a few minutes to read through the following booklets in preparations for your Reverse Mortgage counseling:

"Preparing for Counseling" booklet

Stay at Home” booklet

Recent Posts

  • The HECM Reverse Mortgage Maturity Event

    When a conventional mortgage is taken out, there is always a maturity date. This date designates, if the borrower never defaults, the last payment (including all interest and principal) bringing closure to the loan. With a HECM reverse mortgage there is a maturity event, that is, a designated event in the borrower’s life which makes the loan […]

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  • What is Required Reverse Mortgage Counseling?

    Prior to being approved for a reverse mortgage, HUD’s Federal Housing Administration (FHA) requires each borrow to participate in a counseling session with an approved agency. These not-for-profit agencies are funded by the federal government and work closely with both the FHA and lenders to ensure a smooth process. The goal of this session is […]

    more...