MMI is approved by the U.S. Department of Housing and Urban Development (HUD) to provide counseling required by the Federal Housing Administration (FHA) to complete an application for a reverse mortgage. If you and all other parties listed as owners on your mortgage are 62 years or older and have low or no outstanding mortgage debt, contact a professional reverse mortgage counselor to learn more about this potential financial resource.
During your reverse mortgage counseling session, your counselor will work with you 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. Your counselor will also highlight available resources that you may find useful in meeting your financial needs. Counselors are not lenders or financial advisors. Your counselor's goal will be to help you understand your options so you can make an informed decision.
Upon completion of the counseling session, you will be issued a certificate of participation. If you choose to proceed with the loan process, your lender will likely require this certificate. It is our desire to make this process as smooth and efficient as possible.
Reverse mortgage counseling services are available from 8AM to 7PM Eastern Standard Time by telephone. In-person counseling is also available by appointment in the local markets in which we operate.