Choosing a HUD Counselor for Reverse Mortgage in Delaware
Sponsored by The Seniors Right to Know Network
To be eligible for a federally insured Home Equity Conversion Mortgage (HECM), you must discuss the loan with a counselor employed by a nonprofit or public agency approved by the U.S. Department of Housing and Urban Development (HUD).
The first step is to decide to proceed with a Reverse Mortgage is to contact the 'Reverse Mortgages for You, Team". We will direct you to the nearest Counselor and most time sensitive. We have no affiliation with any Agency. The final choice for your Counseling is your decision.
Who Can Request Counseling
The homeowner or the owner's authorized legal representative can request reverse mortgage counseling. Authorized legal representatives can be a guardian, conservator, or a person holding a durable power of attorney who has been authorized to act in this matter by the owner. You don't have to make application to receive counseling. Yet, HUD mortgage counseling is a requirement in order to receive a reverse mortgage, also know as a HECM (Home Equity Conversion Mortgage).
Choose a Counselor
State by State Approved HUD Reverse Mortgage Agencies
- To find a counselor, visit www.hud.gov/offices/hsg/sfh/hecm/hecmlist.cfm or call 1-800-569-4287. Most counseling agencies charge around $125 for their services. The fee can be paid from the loan proceeds, but you cannot be turned away if you can’t afford the fee.
AARP
More Resources
- National Foundation for Credit Counseling (NFCC) — 1-866-698-6322
- Money Management International (MMI) —
1-877-908-2227
- Consumer Credit Counseling Service of Atlanta — (CCCS of Atlanta) —1-800-251-2227
- National Council on Aging (NCOA) will be placed on the list beginning April 1, 2009. A toll-free number will be available on HUD's website
- Social Security Administration — 1-800-772-1213 www.ssa.gov
- Medicare 1-800-633-4227 www.medicare.gov
Still Can't Find A Counselor Near You?
For More Information
Toll Free
800-242-5085
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