National Agency To Offer Free Reverse Mortgage Counseling

Posted by Orb Staff on January 13, 2010 No Comments
Categories : Residential Mortgage

Beginning immediately, Consumer Credit Counseling Service (CCCS) of Greater Atlanta will offer free reverse mortgage counseling sessions nationwide.

The decision comes as a result of a $1.8 million grant from the U.S. Department of Housing and Urban Development (HUD), which was awarded to the national nonprofit counseling agency late in 2009.

While most of the agency's other services are offered free to consumers, reverse mortgage counseling has historically required a consumer payment. This new grant funding will allow CCCS of Greater Atlanta to provide more than 12,500 reverse mortgage counseling sessions at no cost through September.

HUD requires all reverse mortgage lenders to provide homeowners a list of nonprofit counseling agencies that provide reverse mortgage counseling. CCCS of Greater Atlanta is one of a small number of counseling agencies designated by HUD to provide counseling nationwide.

SOURCE: CCCS of Greater Atlanta

Register here to receive our Latest Headlines email newsletter




Leave a Comment