Reverse Mortgage Counseling

A Reverse Mortgage is a loan against the property for homeowners, 62 years of age and older who have equity in their homes, and permanently reside in the property.

• No payments are required throughout the life of the loan
• The homeowner retains title to the property.
• As long as a homeowner remains in the property the loan will not become due as long as the property is maintained, the property taxes are paid, and the homeowner insurance is paid.
• All existing mortgages must be paid off at the close of escrow with loan proceeds.
• Loan proceeds can be used for any purpose and can be provided in lump sum payment, monthly payments for the rest of the homeowner’s life, monthly payments for a specific number of years or a line of credit to draw on when needed.

To schedule a counseling appointment, please complete our intake packet, or call (408) 720-9888 ext. 10 or toll free (888) 331-3332 ext. 10 or send email to: skilgore@housing.org.

The National Council on Aging (NCOA) publishes a booklet on reverse mortgages. Please check our fee schedule for applicable fees.