know before you sign!
Reverse Mortgages are specialized loans available to homeowners over the age of 62. They allow homeowners to convert part of their equity to cash and do not require repayment until the property is sold, transferred, or the principle borrower passes away.
Before singing for a Reverse Mortgage, it is required that you receive unbiased information from a HUD-certified housing counselor who can help you understand the decision and whether it is beneficial to your specific circumstance. Because reverse mortgages are designed for seniors, often on fixed incomes, and involves what is usually their most valuable asset (their home), the government wants to make sure homeowners have all the information they need to make the right decision. A reverse mortgage gone awry can result in foreclosure or loss of property.
AHCOPA's HUD-certified Reverse Mortgage housing counselors are specifically trained in reverse mortgages and have earned the HECM certification. They can help you understand loan terms, costs, benefits, drawbacks, and alternative options available.
To schedule an appointment, please contact our office at 215-765-1221.
The cost for Reverse Mortgage counseling is $169.
Before singing for a Reverse Mortgage, it is required that you receive unbiased information from a HUD-certified housing counselor who can help you understand the decision and whether it is beneficial to your specific circumstance. Because reverse mortgages are designed for seniors, often on fixed incomes, and involves what is usually their most valuable asset (their home), the government wants to make sure homeowners have all the information they need to make the right decision. A reverse mortgage gone awry can result in foreclosure or loss of property.
AHCOPA's HUD-certified Reverse Mortgage housing counselors are specifically trained in reverse mortgages and have earned the HECM certification. They can help you understand loan terms, costs, benefits, drawbacks, and alternative options available.
To schedule an appointment, please contact our office at 215-765-1221.
The cost for Reverse Mortgage counseling is $169.