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- Reverse Mortgages are Non-Recourse loans which means the borrower can never owe more than the appriased value of the home at the time of repayment.
- Advanced Loan Disclosures and Loan Illustrations are provided at the time of application.
- Counseling is required for all Reverse Mortgage Applicants -- provided by HUD, AARP, and other reputable organizations. This is a federally mandated feature of the reverse mortgage process. The counselor, who is from an independent government-approved housing counseling agency, explains in detail the pro's and con's of your reverse mortgage alternatives. He or she will discuss reverse mortgage costs and financial implications and tell you about any government or nonprofit programs for which you may qualify.
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