HUD Housing Counseling for a Reverse Mortgage | ClarityKeep
A housing counselor helps you understand a reverse mortgage's costs, duties, and alternatives before you decide.
What counseling helps you do
A housing counselor explains the loan before you choose it. Bring questions about costs, your home, and other ways to meet your needs.
A Home Equity Conversion Mortgage, or HECM, requires counseling through an agency approved by the U.S. Department of Housing and Urban Development (HUD).
Counseling is a chance to ask questions. It does not mean a loan has been approved or that it suits your needs.
Prepare for the conversation
Write down what you want the loan to help with. Include concerns about a future move, people living with you, or the cost of keeping the home.
Use the Consumer Financial Protection Bureau’s questions for a counselor to prepare.
You can find a housing counselor through HUD while you are still weighing your options.