Older couple considering a reverse mortgage Older couple considering a reverse mortgage

Reverse Mortgage Counseling

We help seniors understand the pros and cons of borrowing against the equity in their home.

looking to Supplement your retirement?

A Home Equity Conversion Mortgage, or HECM, can be a great way to supplement your retirement by tapping into the equity of your home. But it's far from a simple process and there's quite a lot you need to understand before you can close on a HECM. Every HECM loan comes with the requirement that the borrower complete a reverse mortgage counseling session, which MMI is proud to offer.

Convenience and expertise

Once you've decided that you'd like to tap into the equity in your home and begin working with a qualified lender, you'll be required to participate in a reverse mortgage counseling session. This is a requirement set by the U.S. Department of Housing and Urban Development (HUD) to ensure that you fully understand what it means to use a HECM.

Counseling is available by phone at 866.889.9347. Qualified counselors are available Monday-Friday, from 8am to 5pm (CT).

As an education-focused nonprofit, we are uniquely qualified to guide borrowers through the often complicated reverse mortgage process. Our counselors have years of experience and have completed stringent certification training and testing. We can help make the process as informative and pain-free as possible.

And once you've completed your counseling, your certificate will be available immediately, with options to receive your documentation via email, fax, or standard mail. Counseling is available in English and Spanish, with translation services available for most other languages

Unbiased education

We don't work for your lender - we work for you! It's our goal to make sure you fully understand your rights and responsibilities as a HECM borrower. 

Availability is limited, so be sure to call 866.889.9347 to schedule your appointment soon.

LEARN MORE ABOUT REVERSE MORTGAGES

REVERSE MORTGAGE COUNSELING
HOW IT WORKS
Reverse mortgage application

Reverse mortgage counseling takes place in two parts. During your first approximately 30 minute session, we'll collect basic information about yourself and your finances. You'll then be provided with a packet that includes information on the benefits and costs of a HECM. HUD requires that you have ample time to read and consume this information.

During your second session you'll receive comprehensive, one-on-one education on the benefits and potential downfalls of using a reverse mortgage. This portion usually takes between an hour and 75 minutes. Once you're done, your certificate of completion will be available immediately and deliverable via email, fax, and standard mail. 

Frequently Asked Questions
Is there a fee for reverse mortgage counseling?
Is there a fee for reverse mortgage counseling?
There is a fee of $150 to complete reverse mortgage counseling and receive your required certification. That fee is collected at the beginning of your counseling.

FEE TEMPORARILY WAIVED

Expand FAQ
Can a relative complete counseling on my behalf?
Can a relative complete counseling on my behalf?
The borrower must be present during both required sessions, unless they have previously appointed someone to serve as their Attorney in Fact via a Power of Attorney. A family member or friend may attend the session with the borrower and speak on their behalf if the borrower provides verbal permission and remains on the call. 
Expand FAQ
Do you provide counseling in Spanish?
Do you provide counseling in Spanish?
Counseling services are available in English and Spanish. Interpreter services for many other languages are also available upon request.
Expand FAQ
How far in advance can I schedule my counseling?
How far in advance can I schedule my counseling?
HUD requires that reverse mortgage counseling sessions be scheduled no more than one week in advance. It's crucial that you keep your scheduled appointment, as finding a new availability can be tricky.
Expand FAQ
How soon will I receive my certificate?
How soon will I receive my certificate?
Certificates are available immediately at the successful conclusion of your session. They can be distributed via email, fax, or standard mail.
Expand FAQ
They've been where you are today
Proud to serve you
At MMI, our mission is to improve lives through financial education, and we pursue that goal through every service we provide, including reverse mortgage counseling. When you work with MMI, you should always expect honest, impartial expertise. 
  1. Unbiased
    As a 501(c)(3) nonprofit organization, we take pride in providing unbiased advice and expert instruction. We're working for you - not your lender.
  2. Certified
    Our foreclosure counselors all pass strict certification testing from the U.S. Department of Housing and Urban Development (HUD).
  3. Empowering
    Our goal is to give you the tools and education you need to overcome today's setbacks, and prevent future setbacks from ever happening.
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