What is a HECM Counseling Certificate?
This is a HUD required counseling session designed to assist you in determining if a Reverse Mortgage is right for you. The HUD approved counselors serve as a third party consultant to allow you the opportunity to ask questions outside of Lender interest. The Lender/Counselor relationship is designed to be neutral, thus allowing the homeowner the ability to obtain unbiased counsel. Lenders do not refer to specific counselors and counselors are prohibited from steering a homeowner to any specific Lender. This always puts the choice in your hands! The counseling session can be done either in person (face-to-face) or by phone. If you will be using a Power of Attorney in your transaction you will need the individual as well as a copy of the Power of Attorney available at the time of counseling. At the end of the session you will receive a Certificate of *HECM Counseling to provide your Lender. This signed, dated certificate is required prior to the Lender ordering any services (appraisal,
