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If you need to schedule a reverse mortgage counseling session or you simply want to get more information about the reverse mortgage process, please call us at 1-800-435-2261 to speak with a HUD-approved reverse mortgage counselor today.
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HECM (Home Equity Conversion Mortgage), also known as Reverse Mortgage, can help you convert your home equity into cash. It allows you to remain in your home and continue living in your home without ever making another monthly mortgage payment. A counseling session is required when applying for a Federally Insured Reverse Mortgage.
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In addition, since January 2009, homeowners may also purchase a new principal residence with reverse mortgage loan proceeds. Regardless of the type of product you may choose, you will be required to receive consumer information from an approved reverse mortgage counselor prior to obtaining the loan.
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If you still don’t have enough, a reverse mortgage may make sense.” To locate aor HUD-approved counseling agency, you can visit HUD’s online locator or call.
Schedule Your Reverse Mortgage Counseling Session. Anyone considering a reverse mortgage must first go through a reverse mortgage counseling session with a housing counselor. To set up a counseling session with a certified housing counselor at Advantage CCS, call (866) 699-2227 or Contact us via our Online Form.
Steps to receiving a reverse mortgage counseling certificate: The list must include all HUD-approved counseling intermediaries that can provide telephonic counseling, as well as five (5) counseling agencies within your local area, state or both, with at least one of the local agencies located within a reasonable driving distance for the purpose of face-to-face counseling.
Reverse mortgage counseling is confidential and available for Minnesota Residents. Get started by creating your financial profile online any time of day online.
Cambridge is approved to provide the mandatory counseling for seniors interested in obtaining a Reverse Mortgage, or HECM.
A reverse mortgage is a loan for senior homeowners that allows borrowers to access a portion of the home's equity and uses the home as collateral. The loan.