What will reverse mortgage housing counseling cost?
Housing counselors are permitted to charge for reverse mortgage counseling, but the agency must tell you about the fee before charging it, and the fee has to be reasonable.
If you are behind on your taxes and insurance and you are facing foreclosure, you can receive free reverse mortgage foreclosure prevention counseling. To find a specialist counselor, call one of the five national counseling agencies and ask for HECM foreclosure prevention counseling:
- CredAbility: (888) 395-2664
- Money Management International: (866) 765-3328
- National Council on the Aging: (800) 510-0301
- National Foundation for Credit Counseling: (866) 363-2227
- NeighborWorks America: (888) 990-4326
If you paid someone up-front for counseling and they never provided counseling to you, or if someone is offering you counseling only if you purchase an insurance or financial product along with your reverse mortgage, report the agency and counselor by filing a complaint with the CFPB online or by calling (855) 411-CFPB (2372).
Take the next step
Submit a complaint
We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.