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LSS Financial Counseling Service

Reverse Mortgage Counseling

LSS Financial Counseling Service - Duluth

424 W Superior St, Ste 600, Duluth, MN, 55802-1593

Distance: 1011 Miles

(888) 577-2227

Website

https://www.lssmn.org/financialcounseling/financial-wellness-services/reverse-mortgage

Service Details

Description

Federal Housing Administration (FHA)-backed reverse mortgages are called Home Equity Conversion Mortgages (HECM). In order to obtain a HECM, applicants are required to receive reverse mortgage counseling from a Housing and Urban Development (HUD)-approved reverse mortgage counselor. The counseling provides guidance on the options available under a reverse mortgage.


This agency has HUD-approved HECM counselor(s) who provide the required consumer information sessions.


Additional Information

Offers impartial education and guidance to help you understand the pros and cons of obtaining a reverse mortgage


They offer counseling by phone or in-person counseling at their Minnesota office locations.


Features

  • Specialization
    • Older adults 

Eligibility

Must be a Minnesota resident and homeowner who is 62 years of age or older, own your home outright or have a mortgage balance that can be paid off at closing with proceeds from the reverse mortgage or other personal funds, and live in the home as your primary residence.


Fees

Free or low cost


Business Hours

8:00am - 5:00pm, Monday - Friday; evening and weekend hours available. May also access service via phone or Internet.


Area Served

Minnesota


Websites

Phone Numbers

Type Number Hours
Toll Free (888) 577-2227

Last Update

7/7/2020

Other Locations

This provider does not offer this service at other locations.

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