Reverse Mortgage Counseling and Certificates

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

HOW IT WORKS

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.

Request an Appointment

Listed below are questions clients ask us frequently. If you can't find the answer to a question you have or you would like to know more details, please feel free to contact us using the form.

Is there a fee for reverse mortgage counseling?

There is a fee of $199 to complete reverse mortgage counseling and receive your required certification. That fee is collected at the beginning of your counseling.

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.

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.

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.

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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Cathy D.

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.

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.
Certified

Our foreclosure counselors all pass strict certification testing from the U.S. Department of Housing and Urban Development (HUD).
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

A reverse mortgage can be a life changer for seniors in need of additional income during their retirement years, but that doesn't necessarily mean it's the right choice for you. Before you take that next step, make sure you understand what a reverse mortgage is and what it isn't. And if you decide to go forward with your reverse mortgage, your required certificate will be available immediately to help you complete the process quickly and easily.

Call MMI to start your debt management plan.

Begin on the phone

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866-889-9347

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Department of Housing and Urban Development

MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
Council On Accreditation

MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
National Foundation for Credit Counseling

MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.