Senior Citizens Offered Free Counseling on Reverse
Mortgage by Council on Aging
Seniors age 62+ can schedule a free reverse mortgage
counseling session through September 30, 2009 free brochure online now
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To get this free brochure online,
see below story . |
July 31, 2009 - In response to increased pressure
on the income and savings of older adults, the National Council on Aging
(NCOA) is offering free counseling for seniors through its Reverse
Mortgage Counseling Services (RMCS) Network.
RMCS counselors will waive the usual $125 fee to
help older homeowners understand how these loans, along with community
programs and other options, could help them to remain in their homes.
Consumers age 62+ can schedule a free reverse
mortgage counseling session through September 30, 2009 by calling
1-800-510-0301.
NCOA also offers a consumer booklet on reverse
mortgages, entitled Use Your Home to Stay at Home. The booklet can be
downloaded for free (see below news story).
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As part of the new reverse mortgage counseling
protocol under development by the U.S. Department of Housing and Urban
Development (HUD), all HUD-approved reverse mortgage counselors will
soon be required to provide consumers with this 28-page booklet.
A website for purchasing printed copies will be
launched when HUD's new protocol goes into effect.
"Tapping home equity in a timely way can keep small
financial challenges from becoming overwhelming problems, but many older
homeowners need guidance on how and when to tap this asset," said
Barbara R. Stucki, Ph.D., Director of the Reverse Mortgage Initiative
for NCOA.
"We are pleased to work with HUD to provide both
one-on-one reverse mortgage counseling and a detailed consumer booklet
to help fill this knowledge gap."
NCOA describes itself
The National Council on Aging is a non-profit service and advocacy
organization headquartered in Washington, DC. NCOA serves as a national
voice for older Americans - especially those who are vulnerable and
disadvantaged - and the community organizations that serve them. It
brings together non-profit organizations, businesses and government to
develop creative solutions that improve the lives of all older adults.
NCOA works with thousands of organizations across the country to help
seniors find jobs and benefits, improve their health, live
independently, and remain active in their communities. For more
information, visit
www.ncoa.org.
Use Your Home to Stay at Home
- Reverse Mortgage Consumer Booklet
The U.S. Department of Housing & Urban Development
will soon require that all reverse mortgage counselors provide their
clients with a copy of Use Your Home to Stay at Home, a 28-page
consumer booklet developed by the National Council on Aging (NCOA).
NCOA is a nonprofit service and advocacy
organization headquartered in Washington, DC. It is a national voice for
older Americans-especially those who are vulnerable and
disadvantaged-and the community organizations that serve them. NCOA
works with thousands of organizations across the country to help seniors
find jobs and benefits, improve their health, live independently, and
remain active in their communities.
Download a free copy of
Use Your Home to Stay at Home (pdf).
