The Role of a Reverse Mortgage Counselor

The federal government’s Department of Housing and Urban Development (HUD) requires anyone who applies for a Home Equity Conversion Mortgage (HECM) to meet with an independent government-approved housing counseling agency.  What is the purpose of counseling and what is the role of a Reverse Mortgage counselor?  The requirement is in place to protect and further educate reverse mortgage applicants. It ensures that they understand the program and consider…

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