Reverse Mortgages require the applicants to go through HUD-Approved counseling before your approval can be issued. Here are the most common questions we hear, and our responses:
- “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.
To learn more about Reverse Mortgages, or apply quickly, give us a call or shoot us an email to firstname.lastname@example.org