Reverse Mortgage Counseling

As a member of the National Council on Aging’s Aging in Place Network of counselors, Jewish Family and Children’s Service of Minneapolis is now offering Aging in Place reverse mortgage counseling. This type of senior-friendly counseling includes information about a reverse mortgage as well as other options to consider and an optional check for eligibility for public assistance programs.

A HUD Home Equity Conversion Mortgage (HECM) is a government-insured reverse mortgage that allows seniors to tap into the equity in their home to help them stay in their home. Borrowers must be at least 62 years of age and occupy their home as their primary residence. You retain title to your home and do not need to repay the loan as long as you live in your home. HUD requires that anyone who wants a reverse mortgage must have counseling with an approved, independent counselor. Counseling is free and can be done by phone or in person.

Anyone interested in obtaining Aging in Place reverse mortgage counseling can call Jewish Family and Children’s Service of Minneapolis at 952-546-0616.