Reverse mortgages, also known as Home Equity Conversion Mortgages. If you want a reserve mortgage, counseling from an approved agency, like the.
In order to be considered for a reverse mortgage, the U.S. government requires that you participate in a reverse mortgage counseling session with an approved non-profit agency like Horizon. We currently offer national over the phone counseling in 47 states .
Counseling Agencies Welcome to FHA’s search for Counseling Agencies by location or name. You can search to find Counseling Agencies in various parts of the country. For example, if your search is for a list of all active Counseling Agencies in Washington, D.C., the important fields to fill would be the state and city fields.
Myth #7: Reverse mortgage counseling is a waste of time. Federal law requires that all individuals who are considering a HECM reverse mortgage receive unbiased counseling by a HUD-approved counseling agency. A trained counselor can help you understand the.
Reverse Mortgage / Home Equity Conversion Mortgage (HECM) Counseling. The objective of the counseling is so potential borrowers understand the benefits and limitations of a reverse mortgage as explained by an individual without a financial incentive to sell one. During the confidential session, counselors make sure the potential borrower understands.
Welcome to myReverseAccount.com providing you direct access to your reverse mortgage account where you can review your monthly statements, download advance request forms, check your loan balance and verify transactions at your convenience from this self-service portal.
If you paid someone up-front for counseling and they never provided counseling to you, or if someone is offering you counseling only if you purchase an insurance or financial product along with your reverse mortgage, report the agency and counselor by filing a complaint with the CFPB online or by calling (855) 411-CFPB (2372).
This page provides information on Home Equity Conversion Mortgage (HECM) Counseling for Housing Counselors, and provides two sets of resources for Origination and Default Counseling. FHA insures a reverse mortgage known as HECM. Reverse mortgages allow homeowners to convert equity in their homes.
– Home Improvement and Rehabilitation Counseling – Mortgage Delinquency and Default Resolution Counseling – Non-Delinquency Post Purchase Workshops – Pre-purchase Counseling – Pre-purchase Homebuyer Education Workshops – Predatory Lending Education Workshops – Rental Housing Counseling – Reverse Mortgage Counseling – Services for Homeless.
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