Reverse Mortgage Counseling
If you are a homeowner who is at least 62 years old, VCCDC's Homeownership Specialists can help you determine if a reverse mortgage is right for you. Our Homeownership Specialists can provide the required HUD-approved Reverse Mortgage Counseling, which includes:
Evaluating the pros and cons of a reverse mortgage for your situation
Explaining how reverse mortgages work, including payment options, costs, tax implications, benefits and drawbacks
Providing alternative options
Connecting you to other community resources
A counseling completion certificate which is required should you decide to move forward with a reverse mortgage
Upon the completion of the Reverse Mortgage counseling, you should be able to make an independent, informed decision of whether a reverse mortgage will meet your specific needs. Currently the $175 counseling fee is waived for new clients. However, this may change without notice once grant funds are depleted . Appointments are currently offered via phone or virtual conference. In-person appointments can be requested.