The first of those safeguards try contrary mortgage guidance. In advance of formally distribution the application to possess a reverse mortgage, you’re going to be required to meet with a different 3rd-cluster HUD-accepted therapist to discuss brand new commitments that come with a contrary mortgage. The fresh counseling tutorial is intended to make it easy for you towards knowledge and resources so you’re able to select perhaps the reverse financial try right for you. Their therapist also have recommendations in order to generate a properly-informed choice and supply assistance throughout the application procedure.
Read moreA unique shield is that FHA-covered contrary mortgages is low-recourse funds