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reverse mortgage counseling certificate

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"People are in a very emotional place after the death of a parent," says Heidi Horsley, a Manhattan psychologist specializing in grief counseling. any mortgages (including home-equity lines or.

The Department of Housing and Urban Development (HUD) on Friday awarded $43 million in counseling grants to agencies across the country, coinciding with the beginning of June as National Homeownership.

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To obtain a reverse mortgage, the borrower must first go through counseling. This step is mandated by the U.S. Department of Housing and Urban Development (HUD) in order to provide interested homeowners with an impartial education about the Home Equity Conversion Mortgage (HECM) program.

Reverse mortgage counseling can be completed over the phone or in person. reverse mortgage counselors will explain how reverse mortgages work, including payment options, costs, tax implications, benefits and drawbacks. After completing the mortgage counseling session, you will receive a certificate that lenders require as part of the loan.

Counseling Agencies Welcome to FHA’s search for Counseling Agencies by location or name. You can search to find Counseling Agencies in various parts of the country. For example, if your search is for a list of all active Counseling Agencies in Washington, D.C., the important fields to fill would be the state and city fields.

The certificate must be presented to the lender and submitted to FHA/HUD with your loan application. Contacts. You can receive your counseling from a number of non-profit credit and housing agencies, however, the trained hud-aarp reverse mortgage counselors are considered to be among the best qualified providers of this service.

Steps in the reverse mortgage counseling process. The intake call: Your counselor will gather information she or he needs to prepare personalized documents for you, including your estimated home value, the amount of debt you have on the house, and your thoughts about how you want to use the reverse mortgage. You will also set up your counseling.

Use of Electronic Signatures for Counseling Certificates – February 28, 2014. Counseling of Potential Reverse Mortgage Counseling Clients’ Non-Borrower Spouse – September 9, 2013. FHA-Approved Reverse Mortgage Lenders and Conflicts-of-Interest Behavior with HUD-Approved HECM Counseling Agencies and Other Related Concerns – February 4, 2013

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