Reverse Mortgage Information


Corona Reverse Mortgage Question - What is HECM Counseling Like?


What is reverse mortgage counseling like?  Here is a quick overview of what to do, and what you can expect at your counseling session and some information about where to go to get reverse counseling.

The senior homeowner must schedule an appointment directly with the counseling agency.  The lender cannot do it for you. They are not allowed to "steer" you to a particular counseling agency.  Counseling is conducted in person or over the telephone; HUD recommends that if possible you meet with the counselor face to face. 

Once you have set up an appointment, the agency sends you a packet of information so that you can prepare for your session.  Before you begin, you should also know that some agencies charge a fee for counseling; if you cannot afford to pay this fee you should discuss your inability to pay with the agency at the outset of your session to understand your options.  

Your counselor will ask for key information from you including your name, contact information and the reason you are interested in obtaining a reverse mortgage, for the counseling session.

During your counseling session the counselor will discuss with you your needs and circumstances; provide information about reverse mortgages and other alternative types and sources of assistance that might be available to you

Once you complete your session and you and your counselor are comfortable that you understand the essentials of a reverse mortgage, the counselor will issue a certificate, which verifies for a lender that you have successfully completed counseling.

Your counselors will follow-up with you to learn if you need further assistance and to understand the outcome of your counseling session.  You may also call your counselor to seek further assistance after your session.

Reverse Mortgage Counseling

HUD has a HECM Counselor search page that you can use to find a local counselor.

Here are some National Counseling Agencies:

National Foundation for Credit Counseling

(866) 698-6322

Money Management International

Consumer Credit Counseling Svc of Atlanta

(866) 616-3716

National Council on Aging

(800) 510-0301






By Deborah Nance


Your Local Southern California Reverse Mortgage Professional

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Equal Housing Lender

iReverse Home Loans, LLC, NMLS#810502 originates reverse mortgages in Alabama, Alaska, Arizona (MB-0919584), California, Colorado, Connecticut, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon (ML-5378), Pennsylvania, South Dakota, Tennessee, Texas, Utah, Vermont (1164-MB), Virginia, Washington and Wisconsin. 

Important Information: Reverse Mortgages are neither "endorsed" nor "approved" by the Federal Government. The FHA (Federal Housing Administration) provides certain insurance benefits for lenders and borrowers in connection with the lender’s HECM loans; the FHA does not make or originate loans. The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage loan to become due immediately. A reverse mortgage is a complex loan secured by your home. Whether such mortgage makes sense for you depends on your financial situation and needs. For these reasons, we strongly recommend that you consult with a qualified independent housing counselor, family members and other trusted advisers before making this decision. This website is not from HUD or FHA and was not approved by HUD or any government agency.

Comment balloon 3 commentsDeborah Nance • December 18 2010 07:17PM


Hi Deborah, Good information for seniors and their families. You mentioned that "some" charge for the counseling session, any idea how much?
Posted by Lynda Eisenmann, Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co (Preferred Home Brokers) almost 9 years ago

Hi Lynda, HECM counselors are allowed to charge up to $125 for counseling.  Some agencies may charge less.  All will waive the counseling fee in the event of a financial hardship.  I have heard that on occasion agencies may receive grant monies and waive fees for clients while they have funds available.  Counseling agencies may also be willing to wait for the loan to close and be paid from the loan proceeds.  

Good question girl!   

Posted by Deborah Nance, Southern California , Reverse Mortgage Specialist (Orange County, Corona, Riverside, Los Angeles) almost 9 years ago
Hey Deborah, Thanks for the heads up with your response...good to know.
Posted by Lynda Eisenmann, Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co (Preferred Home Brokers) almost 9 years ago

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