Reverse Mortgage Counseling Locator | 2019’s Top Agencies

August 18, 2019 By Michael G. Branson 14 comments

Top Reverse Mortgage Counseling Agencies

Agency Phone Availability Languages HECM Approved? Platinum Approved? HomeSafe Approved?

Cambridge Credit Counseling 888-764-7460 24 hrs. English, Spanish, Polish, Italian Yes Yes Yes

Quickcert 888-383-8885 24 hrs. English, Spanish, or interpreter Yes Yes Yes

Greenpath 888-860-4167 24-48 hrs. English, Spanish, or interpreter Yes Yes Yes

Debt Helper 800-920-2262 24-48 hrs. English, Spanish, Creole and Portuguese or interpreter Yes Yes No

Smart Money Housing 800-403-3807 24-48 hrs. English Yes No Yes

Hancock Development 877-284-4326 24-48 hrs. English Yes No Yes

Hope Inc. 888-776-0155 48-72 hrs. English Yes No No

Money Management International 877-908-2227 48-72 hrs. English, Spanish Yes Yes Yes

National Foundation on Credit Counseling 866-698-6322 3 Weeks English Yes No Yes

Clearpoint Financial Solutions 877-877-1995 2 Weeks English, Spanish Yes No No

Counseling turn times are approximate and last updated 08-18-2019

The U. S. Department of Housing and Urban Development (HUD) requires that homeowner(s) interested in pursuing a Home Equity Conversion Mortgage (HECM) receive mandatory counseling regarding the implications of and alternatives to a reverse mortgage from a HUD-approved HECM counseling agency.

We are required by HUD regulations to provide you with a list of reverse mortgage counseling agencies.

The list must include all HUD-approved counseling intermediaries that can provide telephonic counseling, as well as five (5) counseling agencies within your local area, state or both, with at least one of the local agencies located within a reasonable driving distance for the purpose of face-to-face counseling.

Steps to receiving your reverse mortgage counseling certificate

Request your pre-counseling document set (Includes loan comparison, closing cost worksheet, amortization schedule, TALC – total annual loan costs)
Have these mandatory documents available: HUD document titled “preparing for your counseling session” and NCOA booklet “use Your Home to Stay Home” (.PDF versions provided below)
Determine whether you wish to see a counselor in person or obtain counseling by phone
Call around and check counselor availability and pricing. Some counseling agencies only accept payment upfront while others allow you to put their fee into the reverse mortgage closing costs
After you have received your counseling you will receive three copies of your certificate in the mail and have the option to have your counselor fax or email a copy of the certificate to your lender

In-Person HECM Counseling Locator

Search our newest interactive map that locates HUD approved agencies nearby with in-person availability.

Mandatory Documents for Your Reverse Mortgage Counseling Session

Preparing for your Counseling Session (PDF file, 4 Pages)
Use Your Home to Stay at Home (PDF file, 26 Pages)

Additional Documents for CA Homeowners

CA Reverse Mortgage Worksheet Guide (PDF file, 2 Pages)
CA Important Notice to Reverse Mortgage Loan Applicant (PDF file, 1 Page)

Counseling & vested interest

Independent reverse mortgage counseling is required prior to closing for the borrower and co-borrower, who will have a vested interest at closing
Power of Attorney or Guardian/Conservator must be counseled on behalf of any borrower(s) or vested owner(s) that are legally incompetent.

Note: POA for convenience is not permitted at this time

CA and AZ – Counseling must be completed prior to application
TX – Counseling must be completed at least 5 days prior to closing. The TX counseling cert is good for 180 days.

Note: See state regulations for additional requirements and timing.

What happens after your counseling session?

After you have completed your counseling you will be mailed a certificate of completion (view sample document).

This Counseling certificate should be signed and returned to your lender if you wish to proceed with the processing of the loan.

No 3rd party services may be ordered such as Appraisal, Title, Escrow until the lender has your signed certificate in hand.

Additional resources:

There's a New Reverse Mortgage on the Block... Meet ARLO™

"ARLO™ is the most sophisticated reverse mortgage consumer pricing engine currently available" -MarketWatch

"ARLO™ embodies All Reverse’s philosophy of educating borrowers rather than selling to them" -Housing Wire

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Or Talk to our Human Experts! Toll Free 800-565-1722

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About the Author, Michael G. Branson

Michael G. Branson (CEO All Reverse Mortgage Inc. and moderator of ARLO™) has 40 years of experience in the mortgage banking industry and has devoted the past 15 years to reverse mortgages exclusively. Michael G. Branson was part of the team that introduced the first fixed-rate jumbo reverse mortgage to market, which was sold to a private investor in 2007.

14 Comments on this Article

I'm ARLO™ and I love responding to your questions and comments. Let's talk!

Rebecca M.
October 6th, 2019

Do we need to complete the counseling before we apply?
Reply to Rebecca
- ARLO™
  October 6th, 2019
  
  Hi Rebecca,
  
  You do not need to complete counseling before filling out a request for application or even the application, but some states (like California) will not allow us to do anything else until after the counseling is done and in all states we cannot order any services on the loan processing until after you have completed counseling so the loan will not be moving forward until after you complete the counseling.
  Reply to ARLO
Pat walker
August 26th, 2019

I'm still not clear on how the interest is applied to the HECM. Unlike a standard mortgage you pay monthly and the mortgage payment covers everything and the loan goes down monthly at a fixed interest rate With hemc you don't pay monthly so the interest is attached to the loan annually and can increase correct.
Reply to Pat
- ARLO™
  September 4th, 2019
  
  Hi Pat,
  Neither loan accrues interest "annually". The interest is calculated and reported on a monthly basis. Reverse mortgage borrowers are never required to pay a monthly payment, but they can elect to at any time in any amount up to and including payment in full.
  For example. if the interest that accrued in a single month was $500 and no payment was made, the balance would increase by this amount and then the interest would accrue the next month at the higher balance. If you made a payment of $700, your interest would accrue the next month on a lower balance because your payment covered the interest that accrued and then paid down a portion of the outstanding balance.
  So, it really acts just the way any other loan would. If you don't make a payment which covers the interest that accrued that month, negative amortization occurs, and your balance rises. If you do make a payment that covers or exceeds the interest that accrued, the balance will stay the same or go down.
  The difference is that with a reverse mortgage, you never HAVE to make that monthly payment so it's completely up to you. Each month you will receive a statement from the loan servicer, so you always know where you stand and if you do decide to make payments or repay the loan early, there is never a prepayment penalty.
  Reply to ARLO
Joachim
May 29th, 2019

Hi, my sister took the counseling just a couple months ago & passed. However she has become incapacitated since then. Can her POA retake the counseling (on her behalf) at this time even though it has not been 120 days since? I'm aware that the name on the Counseling Certification must have the name of the loan signer on the document as well as the home owners name
Reply to Joachim
- ARLO™
  May 29th, 2019
  
  Hello Joachim,
  
  The POA would have to retake the counseling as well as complete a new application. The lender would have to keep the old information as well if you have started the loan already to show that they did not start the loan before the initial counseling, etc. had been performed but this can be done.
  The POA would have to have been dated prior to the date of your sister's incapacitation for it to be valid and the lender will have to get Dr's notes to verify that your sister was able to grant power of attorney at the time the POA was signed but that is a normal HUD requirement any time a POA is used.
  Reply to ARLO
Mary Ziegenhagen
May 13th, 2019

Why are there no HUD reverse mortgage counselors north of San Francisco?
Reply to Mary
- ARLO™
  May 13th, 2019
  
  Hello Mary,
  Great question, I wish I had an equally great answer! The simple truth however is that reverse mortgage counselors are independent companies/individuals, approved by HUD.
  It's up to individuals and companies to apply for approval and continue to be certified and at this time, I see only 14 companies throughout all of CA on the HUD approved list.
  I do see that there is at least one just over the order in Medford, OR if that is closer for you. Unfortunately, states like Nevada have only one approved counselor in the entire state.
  And don't forget, counseling can also be done on the phone as well. You do not have to drive to the office of the counselor. This works well for many who are not within proximity to a counselor's office.
  Reply to ARLO
Patrick D.
May 1st, 2019

How much does the counseling cost for the Hecm Loan?
Reply to Patrick
- ARLO™
  May 1st, 2019
  
  Hello Patrick,
  
  Each company sets their own fees and the fees generally run from $99 to $159. There are times when some companies receive government grants though and when they have grant money available, they can offer the counseling free to the borrowers.
  We are not allowed by HUD rules to direct a borrower to any specific counselor and never really know who has the grant money available as it is usually only available for a short while until the funds are depleted but I always advise borrowers to shop around for a counselor who is able to meet your scheduling requirements and for the best price if the cost is a concern.
  Any counselor can provide the counseling via the phone if it is allowed in your area (most states do allow it) and unless your preference is to be counseled in person, you can talk to a counselor on a toll-free number anywhere in the US and achieve the same results.
  Often, due to time changes, you might even find someone more willing to work in your preferred timeframe if you are an early riser or prefer a later appointment if you just go to a different time zone.
  Reply to ARLO
Marvin Z.
April 8th, 2019

Can you recommend a counselor for a HECM reverse mortgage near Landenberg, PA 19350?
Reply to Marvin
- ARLO™
  April 8th, 2019
  
  Hi Marvin,
  
  You can search our website above for a local counseling agency and you can sort by city, zip code or state. We recommend that you start with the state because there may not be any counselors available in your city or zip code.
  
  If I put in the state of PA, there are 7 agencies statewide that are on HUD's list that appear below. Not knowing where you are in the state though, there may be a closer agency just over a state line that may also work better for you. For example, PA is surrounded by 6 other states and you may be closer to a counselor in another state if you are located near the state line and so are, they.
  
  Remember, you can also complete your counseling on the phone if you prefer and in that case, all the calls are toll-free and it really doesn't matter where the counselor is located throughout the United States and so you should just find a counselor who can best accommodate your schedule and needs.
  Reply to ARLO
Bonnie Derrick
December 1st, 2018

Can I get counseling and apply for HECM purchase loan before deciding on a home or state. We are looking in CA, NV and AZ. We had a HECM loan in the past which we paid off after an inheritance. This would not happen this time. Looking at max $300k purchase.
Reply to Bonnie
- ARLO™
  December 3rd, 2018
  
  Hi Bonnie,
  
  You can get counseling and tell the counselor it is for a future purchase of a "TBD" (to be determined) address. They will update the counseling certificate later to reflect the address on which you decided once known. You must remember that the certificate is only good for 6 months so if you choose a new construction home and the entire process takes longer than that to complete the home and be ready to close, you may have to repeat the counseling later.
  
  You can't apply for the loan though because you don't have an address and therefore, the lender cannot obtain a HUD Case number. We work with borrowers quite often who are still looking for a home and have not settled on a property and you can get some things ready including having your information reviewed so that when the time comes, you are ready to move quickly. In that case, you might only have to update some of the information you supplied but all questions or possible issues with credit or income will have been determined and resolved well in advance.
  Reply to ARLO

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Reverse Mortgage Counseling Locator | 2019’s Top Agencies

Top Reverse Mortgage Counseling Agencies

Steps to receiving your reverse mortgage counseling certificate

In-Person HECM Counseling Locator

Mandatory Documents for Your Reverse Mortgage Counseling Session

Additional Documents for CA Homeowners

Counseling & vested interest

What happens after your counseling session?

There's a New Reverse Mortgage on the Block... Meet ARLO™

Or Talk to our Human Experts! Toll Free 800-565-1722

America's #1 Rated Reverse Lender Cellebrating 15 Years of Excellence.

About the Author, Michael G. Branson

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Agency	Phone	Availability	Languages	HECM Approved?	Platinum Approved?	HomeSafe Approved?
Cambridge Credit Counseling	888-764-7460	24 hrs.	English, Spanish, Polish, Italian	Yes	Yes	Yes
Quickcert	888-383-8885	24 hrs.	English, Spanish, or interpreter	Yes	Yes	Yes
Greenpath	888-860-4167	24-48 hrs.	English, Spanish, or interpreter	Yes	Yes	Yes
Debt Helper	800-920-2262	24-48 hrs.	English, Spanish, Creole and Portuguese or interpreter	Yes	Yes	No
Smart Money Housing	800-403-3807	24-48 hrs.	English	Yes	No	Yes
Hancock Development	877-284-4326	24-48 hrs.	English	Yes	No	Yes
Hope Inc.	888-776-0155	48-72 hrs.	English	Yes	No	No
Money Management International	877-908-2227	48-72 hrs.	English, Spanish	Yes	Yes	Yes
National Foundation on Credit Counseling	866-698-6322	3 Weeks	English	Yes	No	Yes
Clearpoint Financial Solutions	877-877-1995	2 Weeks	English, Spanish	Yes	No	No