Reverse Mortgage Counseling
Retirees are increasingly seeking ways to supplement their limited income. Homeowners over the age of 62 can convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home. Approved by the U.S. Department of Housing and Urban Development (HUD) to provide home equity conversion mortgage (HECM) counseling, Our Consumer Credit and Budget Counseling National Foundation for Debt Management (NFDM) counselors help seniors arrive at their most informed decision when considering their reverse home mortgage options.
NFDM provides seniors with information on: loan amounts, payment options, home ownership requirements, advantages as well as disadvantages, and reverse mortgage program benefits. In addition, we provide information about other programs and alternatives to obtaining a reverse mortgage.
All reverse mortgage counseling sessions follow strict HUD protocol. Our purpose, as a HUD approved reverse mortgage counseling agency, is to make sure homeowners have all the information required to make an informed decision regarding a reverse mortgage.