Finding reverse mortgage counseling just got easier. HUD has recently announced grants to housing counseling organizations across the county. Reported in Reverse Mortgage Daily:
“In total, the grants support 31 national and regional organizations, six multi-state organizations, 19 state housing finance agencies and 207 local housing counseling agencies, with Washington D.C.-area organizations receiving almost $8 million of the grants.”
“These agencies provide counseling for the rapidly growing number of elderly homeowners who seek to convert equity in their homes into income that can be used to pay for home improvements, medical costs, and other living expenses,” HUD said in a press release.
If you are taking part in HECM (Home Equity Conversion Mortgage) counseling be sure to check with your counselor to see if they were one of the counselors who received the HUD grant funds.