Program Information
RFS/ Reverse Mortgage Counseling
Location
Telephone Numbers and Contact Information
Telephone 1:Telephone 2:
Telephone 3:
Fax:
Web Page: None Listed
Program Details
Eligibility: Age 62 and older, must own your home
Fees: $150 fee, which can be financed into the loan for low-income clients.
Intake Process: Call for information or appt.
Service Area: North Carolina
Program Description:
Reverse mortgage counseling is offered by telephone only at this time. Home Equity Conversion Mortgages (HECMs) are federally-insured loans for people who are age 62 or older and own their home outright or have minor mortgage debt (generally, less than half the value of the home). Borrowers must continue to live in the home as their primary residence. There are no required monthly payments and the mortgage balance doesn't become due and payable until borrower dies, sells or moves out of the home permanently. Borrower must attend an educational counseling session with a non-profit or governmental agency other than the lender, before making an application for a reverse mortgage. RFS is a HUD-approved counseling agency.
This information is provided as is with no guarantee as to the accuracy of the information. Information is considered to be accurate as of the date of the last update, printed above. Resources for Seniors may not be held liable for misuse of this information.