Reverse mortgage
I am trying to assist my friend with obtaining a reverse mortgage so that she can pay her high real estate taxes. We are unable to get an appointment for HUD-required counseling. I have made several contacts without even getting a return call or message. Do you have any insight on securing the required counseling session?
Terry Says
Here is a link to the HUD site where you can find a list of approved counselors.
BUT, first make sure you are doing your friend a favor. This may be the moment to downsize. I am in favor of RMs, where they make sense. But she must keep up with property taxes and insurance and repairs or be in default of the RM loan. And if she is this close to the edge, it might be time to sell the property and move into a less expensive senior rental situation.
Just a thought ….
