Reverse Mortgage Counseling – Common Questions
- “Which counselor should I choose?” – A list of HUD-approved, third-party counselors near your area will be provided to you. You may contact any of the eligible counselors on this list to schedule a session.
- “Do I have to go somewhere in person?” – In most states, including Colorado, counseling can be done on the phone. The session will last about an hour.
- “Why is counseling necessary?” – Educational counseling is a requirement of the U.S. Department of Housing and Urban Development. This is done to ensure that borrowers are well-informed about the reverse mortgage.
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