Some senior citizens find themselves rich in home equity, but cash poor when trying to pay month-to month bills. If this is you, a reverse mortgage may be a good option for you. However, before you can obtain a reverse mortgage, you must receive HUD-approved Reverse Mortgage Counseling. Like many loan products, a reverse mortgage is neither good nor bad, though it may be described as “appropriate” for some seniors and “inappropriate” for others. The reverse mortgage counseling session is not a sales pitch. Rather it is an attempt to get the prospective borrowers to clarify their financial goals, and to see if the reverse mortgage will help them achieve those goals. In addition, alternative strategies are reviewed, and the costs of the reverse mortgage are explained. Our goal is to help inform prospective borrowers so they can make a decision that best suits their needs. To receive a free copy of “Reverse Mortgage Loans: Borrowing against your Home” you can call AARP at 1-800-209-8085 (allow 2 to 3 weeks for delivery), or you can download it at www.aarp.org/revmort . This is an excellent overview of the basics of reverse mortgages. The AARP’s web page also contains other useful information related to reverse mortgages. There are two excellent publications that describe reverse mortgages and the process of getting a reverse mortgage. ‘Use Your Home to Stay at Home’ is published by The National Council on Aging (NCOA). AARP also offers a clear, well-written booklet on reverse mortgages ‘Reverse Mortgage Loans: Borrowing Against Your Home’. Both of these organizations also have useful information on related financial issues. You can find the home page for AARP at: http://www.aarp.org/, and the home page forNCOA at: http://www.ncoa.org. If you are scheduling a Reverse Mortgage appointment with us, we'll need to provide you with several important documents. You can download most of them here from our website. CCOA HECM Forms 1 of 3. CCOA HECM Forms 2 of 3. CCOA HECM Forms 3 of 3.

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