Reverse Mortgage/Home Equity Conversion Mortgages (HECM)
ACRHA uses both HUD Handbook 7610.1 Rev-4 and the 4235.1
Home Equity Conversion Mortgages. ACRHA offers one-on-one
counseling to senior households interested in HECM’s and issues the
required certificate for homeowners who wish to pursue this option.
ACRHA offers group informational sessions about the program, but
does not use group counseling to address individual consumer
needs. Certificates are not issued for consumers who attend only the
group informational session. The certificate attests only to the fact
that the consumer attended the required counseling session and
does not recommend the consumer for a HECM.
The Home Ownership Advisor will educate the consumer about
options other than HECM, other reverse mortgages, the financial
implications of HECM’s, a disclosure of the tax implications, eligibility
for assistance under Federal and State Programs, and the impact on
the estate and heirs of the homeowner.
Our Home Ownership Advisors are certified and have passed the HUD
qualifying exam. We will travel to the clients home when necessary.
Phone counseling is provided as needed but we prefer to provide
face to face counseling.
ACRHA is a HUD approved housing counseling agency.
Housing Counseling Services