Government Loan

Reverse Mortgage loans were designed by the U.S. Department of Housing and Urban Development (HUD) in the late 1980’s from the lobbying efforts of AARP.  Most of the Reverse Mortgage loans made today are insured by the Federal Housing Administration (FHA):  a government supported mortgage insurance program.

Counseling Required

Borrowers must obtain independent counseling prior to obtaining a Reverse Mortgage.

Counseling is only available from approved, independent, third party sources.  The counselor's job is to educate you about reverse mortgages, to inform you about alternative options available that may be available to you according to your situation and to assist you in determining which particular reverse mortgage would best fit your needs if you elect to get one.  This counseling session is at no cost the the borrower and typically takes 45-60 minutes.  Counseling can be done in person or on the telephone.