A reverse mortgage is a home loan available to homeowners who are 62 years or older that enables them to convert part of the equity in their home into cash.
During reverse mortgage counseling sessions, our counselors work with our clients to help explain how reverse mortgages work, the financial and tax implications of taking out a reverse mortgage, payment options, and costs associated with a reverse mortgage. Alternative strategies are also reviewed which may be useful in meeting the client's financial needs.
Our counselors will also help our clients clarify their financial goals to see if a reverse mortgage will help them achieve those goals. The end result will be to help prospective borrowers make an informed decision that will best suit their financial needs.
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