Reverse Mortgage Counseling

What is a Reverse Mortgage?

A Reverse Mortgage can assist in providing a tax-free cash flow to eligible homeowners 62 years of age or older. It is a unique loan used to convert a percentage of home equity into available cash. A reverse mortgage can provide seniors financial independence and the ability to age longer in their home. Reverse mortgage funds are commonly used for one or more of the following:

  • to supplement a portion of daily living costs
  • to pay off high debts in order to reduce unaffordable monthly living costs so affordable again
  • to pay for home care costs
  • to pay for home repairs and structural adaptations
  • to keep funds available for emergencies
  • for access to credit when other forms of credit are unavailable
  • for an added option to a poorly performing financial portfolio

Qualifying for a Reverse Mortgage

Besides the age and residency qualification, borrowers go through a financial assessment with their lender, and they must acquire the FHA required HECM counseling certificate. ACCC is a Massachusetts and HUD-approved provider of the counseling and certificate.

To schedule an appointment please call 1-866-826-7180.