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Reverse Mortgage Counseling

Written by:
Director of Education and Corporate Communications

Reverse mortgage counseling is a prerequisite for any eligible senior seeking to obtain a reverse mortgage. The counseling is conducted by reverse mortgage counselors. These professionals undergo extensive training and are certified and approved by the U.S. Department of Housing & Urban Development (HUD). It is essential to note that reverse mortgage counselors are not connected to any lenders and do not receive any compensation from lenders.

This short guide will help you understand how reverse mortgage counseling works and answer some of the common questions people have about the process. To learn more or to schedule a reverse mortgage counseling session, please call 1-800-435-2261 to speak with a HUD-certified reverse mortgage counselor today.

What to expect with reverse mortgage counseling

The counseling sessions are designed to help the prospective borrower(s) to evaluate the pros and cons of whether a reverse mortgage is right for their situation.

The counselor will explain:

  1. how a reverse mortgage works
  2. the specific aspects of the reverse mortgage product the borrower is considering, including costs, tax implications, benefits, drawbacks and any payment options
  3. financial or social service alternatives to a reverse mortgage
  4. warnings about potential reverse mortgage/insurance fraud schemes and elder abuse

Receiving a financial assessment

An integral part of the counseling session is the financial assessment, which is designed to help ensure the borrower is able to uphold their loan obligations, such as continuing to pay their property taxes and homeowners insurance.

Overall, the counselor’s job is to be a neutral source of information who acts in a homeowner’s best interest, meaning they will not push you into any course of action. Their job is to make sure you completely understand how the reverse mortgage process works and explain any other options you might have.

Above all, reverse mortgage counselors are required to follow specific practices. These practices are designed to ensure you receive quality counseling services and are protected against fraud and abuse.

Receiving a certificate of completion

Once the counseling is completed, the borrower will receive a certificate that lenders will require before they can even submit the borrower’s loan application for underwriting review and approval. It verifies for a lender that you have successfully completed counseling. The certificate is good for up to six months.

The goal of reverse mortgage counseling

The ultimate goal of the counseling session is to help borrowers understand their options so they can make an informed decision on whether a reverse mortgage is the right loan product for their individual circumstances, future goals, and needs.

Who is Consolidated Credit Solutions?

Consolidated Credit Solutions has been a HUD-approved housing counseling agency since 2009. We have been approved by HUD to provide reverse mortgage counseling for Home Equity Conversion Mortgages (HECM). Consolidated Credit also provides counseling for proprietary reverse mortgages, now being offered by a growing number of lenders for borrowers whose needs and property values go beyond the limits of a HECM.

Picture of Consolidated Credit's HUD-certified housing counseling team

Our staff is able to conduct counseling sessions in both English and Spanish. If you would like to schedule a reverse mortgage counseling session or simply want more information, feel free to call us at 1-800-435-2261 to speak with a HUD-certified counselor today.

Frequently asked questions

Answers to common reverse mortgage questions

All reverse mortgage applicants are required to attend the counseling session.


If an applicant lacks legal competency, the counseling session must be attended by an individual holding a power of attorney (POA) or a court-appointed conservatorship or guardianship. If a POA is signing on behalf of a competent borrower the borrower and the POA must attend the counseling session as well as sign the Counseling Certificate.


Many lenders will also require a non-borrower spouse receive the counseling. While not required, adult children and other family members, advisors, friends, or an attorney may attend at the borrower’s request.

Consolidated charges $130 for a HECM counseling session and $150 for a proprietary reverse mortgage counseling session. For low-income seniors, counseling session costs may be waived entirely or included as part of closing costs in certain situations. You can call 1-800-435-2261 to learn more about the fees you can expect to pay.

No, AARP does not offer reverse mortgage counseling; they refer you to the HUD website to find a HUD-approved housing counseling agency in your local area. Consolidated Credit is approved by HUD to provide counseling to borrowers throughout the entire United States.

While there is typically a fee for reverse mortgage counseling, it can be waived for seniors with low income.