How can seniors make informed decisions about complex financial products like reverse mortgages?

Federal regulations and North Carolina law require reverse mortgage loan applicants to receive reverse mortgage counseling from an approved counseling agency. What is the Property Tax Assistance for Seniors reverse mortgage loan program? The City's program is available to pay all or a portion of a homeowner's. HUD Reverse Mortgage Counseling. The DSS has been a HUD-Approved Housing Counseling Agency for over 25 years, with a focus on the government guaranteed Home ... Jan 3, 2019 ... A reverse mortgage allows you to access equity within your home without the obligation of a mortgage payment. You still pay property taxes, insurance, and ... Reverse mortgages allow older people to immediately access the equity they have built up in their homes, and defer payment of the loan until they die, sell, or ... Jun 2, 2009 ... Look and listen for false and misleading claims related to reverse mortgage offers, and report them to the appropriate authorities. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. Jul 29, 2024 ... A reverse mortgage is a loan that allows homeowners – most often those 62 or older – to borrow against a portion of the equity in their home. Having a basic knowledge of the Reverse Mortgage product will help licensees to better serve their clients and customers. Since 1961, older US homeowners can take out a reverse mortgage to access equity in their home to help with all sorts of financial needs.