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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

Distance: 1455 Miles

(888) 577-2227

Website

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

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 counselors 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
* Live in the home as your primary residence


Fees

Free or low cost


Area Served

Statewide


Websites

Phone Numbers

Type Number Hours
Toll Free (888) 577-2227

Last Update

11/28/2022

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