Reverse Mortgage Counseling - Ashland Reverse Mortgage

How much money does reverse mortgage housing counseling cost in Ashland?

Housing counselors are able to charge for reverse mortgage counseling, but the agency must let you know about the expense before charging you it, and the fee really should be reasonable. Fees are typically about $125. Counseling agencies are also instructed to waive the counseling fee when your income is under two times the poverty level.

Tip:

Be sure that your reverse mortgage counselor is approved by the U.S. Department of Urban Development (HUD). You can find HUD-approved housing counselor by visiting HUD’s counselor research webpage or contacting HUD’s housing counselor referral line (1-800-569-4287).
Tip:

If you are in arrears on your property taxes and homeowners insurance and you are facing foreclosure, you can receive free of charge reverse mortgage foreclosure prevention counseling. To find a specialist counselor, call one of the five national counseling agencies and request HECM foreclosure prevention counseling:

CredAbility: 1-888-395-2664
Money Management International: 1-866-765-3328
National Council on the Aging: 1-800-510-0301
National Foundation for Credit Counseling: 1-866-363-2227
NeighborWorks America: 1-888-990-4326

For those who paid someone up-front for counseling and they never supplied counseling to you, or if someone offers you counseling on condition that you purchase an insurance or financial product jointly with your reverse mortgage, report the company and counselor by submitting a complaint with the CFPB, or calling 1-855-411-CFPB (2372).