Reverse Mortgage Counselors
Time 2020-10-25 14:04:33Web Name: Reverse Mortgage Counselors
WebSite: http://www.reversemortgagecounselors.com
ID:93914
Keywords:
Reverse,Mortgage,Counselors,Description:
Roster Eligibility Requirements FHA approved Reverse Mortgage counselors must meet a short list of criteria listed below: Passed the National HECM Counseling Exam; Registration info is available at http://www.hecmexam.org. Successfully finished at least one of the training course related to HECM counseling within the past 2 years; NOT be listed on the General Services Administration's Excluded Parties List System (EPLS), HUD's Limited Denial of Participation List (LDP), or HUD's Credit Alert Interactive Voice Response System (CAIVRS), and Be employed by a HUD-approved housing counseling agency. What is Covered? The Reverse Mortgage counselors must cover the following topics during the session: Alternatives to getting a reverse mortgage The implications of getting a reverse mortgage such as carrying a loan that is negative amortization by definition and possible impact on the estate and heirs. A disclosure that a Home Equity Conversion Mortgage may have tax consequences, effect eligibility for assistance under Federal and State programs Can You Recommend Any Reverse Mortgage Lenders? We do not endorse or recommend any specific lender. There are good directories on the web at sites such as Reversemortgage.org and Reversemortgagelenders.net that list licensed reverse mortgage lenders for you to check out.TAGS:Reverse Mortgage Counselors
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