Important: You Must Have a "Certificate of Counseling" to Apply For A Reverse Mortgage

FHA/HUD Counseling

    FHA/HUD Counseling was put into place so that the borrower is well informed regarding the pros and cons of a Reverse Mortgage.

    FHA/HUD Counseling is mandated by the government in order to qualify for a Reverse Mortgage. The counseling is an important tool, not only for the borrower, but also for the Reverse Mortgage Specialist.

    The counseling sessions will inform the borrower of the financial obligations as well as the legal obligations, of a Reverse Mortgage.

    The counseling is a minimum of forty-five minutes and it is a MUST HAVE. The counselor will be current in any government changes and will be able to answer most, if not all, questions you may have regarding a Reverse Mortgage Process.

   This not only builds the borrowers confidence in the program, but also speeds up the Reverse Mortgage Application. Once the counseling is concluded, the borrower will receive a “Certificate of Counseling” Having this certificate is MANDITORY  in order to continue with the application.

IF THE CERTIFICATE IS NOT PRESENTED TO REVERSE MORTGAGE SPECIALIST, THE APPLICATION CANNOT CONTINUE.