Reverse Mortgage Counseling

For most people, their home is their most valuable asset.  This, coupled with the unfortunate fact that seniors are often the target of unscrupulous predators, makes the education of prospective reverse mortgage borrowers among the most important counseling we do at ClearPoint Credit Counseling Solutions.  Our HUD-certified financial specialists will counsel the qualified homeowner on the Home Equity Conversion Mortgage–a government-insured reverse mortgage regulated by HUD, the Department of Housing and Urban Development.

Every ClearPoint counselor who conducts a reverse mortgage counseling has passed a rigorous exam and has been certified by the U.S. Department of Housing and Urban Development (HUD). The goal of the HECM counseling session is to provide you with essential information so that you can make an informed decision that serves your best interests.

As a neutral third party, our HECM specialists do not endorse, nor are they affiliated with, any reverse mortgage lender.  Because our specialists have no financial interest in whether you obtain a reverse mortgage, you can be assured that you’ll receive objective, unbiased information.

What can I expect?

Your ClearPoint counselor will review your finances, cover the pros and cons of the reverse mortgage, discuss other options, and answer your questions concerning the Home Equity Conversion Mortgage (HECM).

Prior to the session, you will be forwarded material for your review that will help you prepare.

Why is counseling required?

Obtaining a reverse mortgage is an important decision. Every prospective HECM borrower should understand the financial ramifications of the loan and its potential impact on the estate.  HECM counseling is required by HUD as a means of helping consumers protect themselves and make wise financial decisions that will best serve them in the years ahead.  At the conclusion of the reverse mortgage counseling session, the client is provided with a HECM Certificate of Counseling. The certificate is valid with any HUD-approved reverse mortgage lender.

Do I have to come in for the session or can I have the session over the phone?

ClearPoint provides both in-person appointments and appointments by phone, whichever is most convenient.  We encourage prospective borrowers to include trusted friends or family members in the session.

How do I set up an appointment?

Call 800.750.2227 (CCCS)  to schedule a free appointment for a reverse mortgage counseling with an experienced housing counselor in-person at a branch office or by phone.