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

Preparing for a Reverse Mortgage

Education and counseling for seniors interested in borrowing against the equity in their home.

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 interpreter services available for most other languages

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.
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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. With the borrower’s permission, a family member or friend may attend the session with the borrower but may not speak on their behalf. All borrowers must be present and participate in the reverse mortgage discussion.
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.
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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.
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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.
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They've been where you are today
  • Every time I communicated with MMI I was helped immediately and treated with dignity and respect. As anyone who has ever gone into debt they cannot get out of can attest to, one of the horrors is the feeling of hopelessness and zero self-respect. From the very first conversation, I received encouragement and admiration for making that first crucial phone call. I thank God every day for the lessons and help MMI taught me and I have told any body that shared a story that was similar to mine. I cried tears of joy this last month when my final payment was made. God bless you all.
  • THANK YOU for not looking down on me, for understanding and helping me get back on track in such a courteous and helpful way. I was scared and after working with you I feel like I can handle life again. I know it is not over, but there is light at the end of the tunnel.
  • I had my doubts in the beginning, but as soon as I got on the phone with MMI I knew I made the right choice. During the interview they ask all your financial details, but it's to help you better understand your situation. Very easy to contact and the process is quick. Thank you so much MMI! I've already started referring friends and coworkers! They need to know there are people really trying to help!
  • The hardest part of using MMI was being brave enough to make the initial phone call. Thank you so much!! I have referred a family friend years ago, and she FINALLY got brave enough to make the call!
  • I'm beyond satisfied with the service I have received from MMI. Even though I was embarrassed about my situation, your reps never made me feel badly about myself and they made me feel confident that I would reach my goal. Thank you!
  • Thank you for your help. I truly thought there was no way out of my debt. I was so desperate that I had considered ending my life. Thank you again & I will NOT return to a debt load that I cannot manage. Looking forward to retiring in a few years & plan to remain debt free.
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.
Rowena, an MMI counselor
  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.
  • The National Council of Higher Education Resources (NCHER) is the nation’s oldest and largest higher education finance trade association. NCHER’s membership includes state, nonprofit, and for-profit higher education service organizations, including lenders, servicers, guaranty agencies, collection agencies, financial literacy providers, and schools, interested and involved in increasing college access and success. It assists its members in shaping policies governing federal and private student loan and state grant programs on behalf of students, parents, borrowers, and families.

  • Since 2007, the Homeownership Preservation Foundation (HPF) has served as a trusted, neutral source of information for more than eight million homeowners. They are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.