Reverse Mortgage
If you are over the age of 62, occupy the property as your primary residence, and have the needed equity you may be eligible for this product. HECM Counseling is the vital part of this mortgage’s process. It gives you the opportunity to work with an independent person trained to conduct this education. The education sessions go through the financial implications, possible alternatives, borrower obligations, loan costs, and repayment conditions. This third party counselor ensures that you are fully informed on the terms and conditions of a HECM reverse mortgage.