Development hud approved reverse mortgage counselor today. Reverse mortgage booklet national council on aging. Find articles on credit, personal loans and debt relief from aarp. The link below takes you to the fhaapproved lender search for all fha lenders. Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. Ncoas use your home to stay at home is the official federally approved consumer booklet for older homeowners considering tapping their home equity using a reverse mortgage. The sooner you call your servicer or a housing counselor, the more options you will have. A hud1 form, also called a hud settlement statement, is an itemized list of all charges to be paid by the borrower in order to close a reverse mortgage or a refinance transaction. The official reverse mortgage consumer booklet approved by the u. The guide also provides information on other housing and home equity options available to older adults looking to remain in their homes as they age. Read the latest credit, loans and debt news and issues including reverse mortgage, credit card management and interest rates. Value of the home, as determined by a hudapproved appraiser, up to a nationwide. Loan proceeds in a home equity conversion mortgage hecm or. This handbook provides updated instructions to approved mortgagees and to hud field office personnel regarding the processing and servicing of.
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