Independent Reverse Mortgage Counseling: What You Need to Know

Why is it required? What does it do for you?

Getting a Reverse Mortgage loan is an important financial decision and requires careful consideration. By speaking with an independent counselor, you can be sure that all of your questions are answered and that have the information you need to make the reverse mortgage decisions that are right for you.  A HUD (Department of Housing and Urban Development) approved HECM (Home Equity Conversion Mortgage) counselors’ job is to make you fully understand how reverse mortgages work and other options that may be available to you; this way you can make an informed and confident choice. The counseling session is a mandatory part of the reverse mortgage application process.

Where does counseling take place?

Depending on where you live, these counseling sessions are either done face-to-face or on the phone. Your Longbridge Financial Reverse Mortgage consultant will provide you with a list of counselors in your area. You’re free to choose whichever counselor you’d like, as long as the counselor has been approved by The Department of Housing and Urban Development (HUD).

Once you have completed counseling, both you and your counselor will sign a certificate to verify that the required counseling has been fulfilled.

What to expect?

After you have scheduled your appointment with an approved counselor; they will send you a packet of materials to help you prepare. During your appointment, your counselor will discuss your options, financial needs, your mandatory obligations* after getting a reverse mortgage, and your current situation.

Because counseling is a mandatory requirement of the reverse mortgage program, the counselors are independent to ensure that homeowners are provided with unbiased information.

By the end of the educational session with your counselor, you will have a better understanding of the HECM program, including various product options, loan disbursement choices as well all the costs that are involved.

Once you have completed the session, your counselor will issue a certificate that you will need to provide to your Reverse Mortgage consultant in order to complete your reverse mortgage application.

Here’s a recap of what you need to know:

  • Finding a counselor near you is easy – We will provide you with a list of Department of Housing and Urban Development (HUD) approved independent national and local counselors that you can choose from.
  • Plan for your session to last at least an hour –it’s well worth the time. Your counselor will discuss with you the costs and financial implication of your reverse mortgage.
  • A little bit of preparation goes a long way – We recommend taking a moment to make a list of questions beforehand.

Questions about reverse mortgages? We’re here to help. To learn more, call (855) 523-4326 or visit



* The borrower meets all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance.  The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.


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