To do a Reverse Mortgage a Counseling Session is required with either a HUD or Proprietary Lender Authorized Counselor. The Counselor will explain the Programm and Plans, draw up a budget, will ask questions to determine that you understand the Program and are consious of what you are doing.
.You must inform the Coiunselor of which Program you are doing, prior to starting the counseling Session. The forms and Requisites are different and a a HUD Certificate will not be good for a Private or viceverse.
Counselor will emit an Official Certificate either from HUD or the Lender, certifying that you have competed the process and that you understand what you are doing. There is no obligation to do the Mortgage.
The session lasts approximately 1 hour and it can be done by telphone or face to face. It costs around $125-$145. (face to face might be more expensive). It is paid directly to the Counseling Agency.
Request information to prepare for the Session and a List of Counseling Agencies in Florida and your Area