Financial Counseling Requirements for Reverse Mortgages

Counseling is mandated by Federal Law if you are applying for a HUD-insured reverse mortgage.

In many states, such as California, counseling is also required for any reverse mortgage, whether federally insured or not.

We provide you, and anyone you like, with both a preparation session before the Government approved FHA counseling and after that session.

The FHA counseling sessions can be done in person or over the phone and are meant to objectively educate and inform you about the benefits and drawbacks of a reverse mortgage for your specific situation. We will also review other financial tools and options in addition to reverse mortgages.

With the rise in popularity of reverse mortgages, and the growth of product choices, a shortage of qualified and educated HUD approved counselors has occurred. Now more than ever, working with an independent and objective third party such as Golden Gateway Financial and our devotion to financial counseling is critical. We'll make sure that you get help from an approved HUD counselor, but you'll also get a whole lot more.