HOMEteam also provides the reverse mortgage counseling that is required prior to being able to apply for the Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (HECM). This service is for clients who are 62 years of age or older and who would like to have access to some of the equity in their home without selling the home or incurring additional monthly loan payments. The HECM reverse mortgage product was conceived as a mechanism for seniors to remain in their homes (age in place) during their retirement years. HOMEteam has certified reverse mortgage counselors on staff who are approved by the US Department of Housing and Urban Development (HUD) to provide our clients with the information and education they need to make an informed decision as to whether a reverse mortgage is right for them.
Reverse Mortgage Counseling is available for a fee of $125.
For more information about Reverse Mortgage Counseling, please contact Debbie Wheeler at (603) 626-4663 x. 1400.