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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

Learn how the CFPB can help you

Should I use a reverse mortgage to consolidate my debts?


It depends. Talk to a HUD-approved reverse mortgage counselor before consolidating your debts with a reverse mortgage.

A H UD-approved reverse mortgage counselor can:

  • Advise you on managing your money and debts.
  • Help you develop a budget.
  • Give you free educational materials or workshops.
  • Discuss the risks of consolidating unsecured debts (credit cards, etc.) into a loan backed by your home.

Avoid people and businesses who claim that they will help you lower your debts but ask for big fees upfront or make unrealistic promises – like restoring your credit or repaying your debts for pennies on the dollar.

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The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.