Tag Archive | “FAQ’s about Reverse Mortgage Counseling”

A Brief Guide to Reverse Mortgage Counseling – Part-1

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If you have made a plan to get a reverse mortgage, then probably you will need a reverse mortgage counselor. Such a counselor is required in most of the cases.

FAQ’s about Reverse Mortgage Counseling

Here we have given answers to some common questions about reverse mortgage counseling.

Why do I need reverse Mortgage Counseling?

For a federally insured reverse mortgage, which is also known as a home equity conversion mortgage, The US Department of Housing and Urban Development requires a certified counseling session.

housing_counseling

It was said by Sue Hunt, who is housing counseling program manager at Consumer Credit Counseling Services that this is a very important financial decision for a senior citizen who wants to make use of the assets they have available until they die.
She further said that, they certainly don’t want to have seniors making decisions that aren’t well educated and well informed.

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September 2011
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