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Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
​iReverse Home Loans, Corporation
Branch Office * 8231 Tobago Lane, Wellington, FL  33414 * Branch NMLS #1613062
Branch Manager Russel Helfman M.B.A.   * Individual NMLS #387498
855-434-2349 (Phone) * 516-706-6125 (Fax)
Corporate Office * 7689 Sitio Algodon, Carlsbad, CA  92009 * Corporate NMLS #1564664
Low-Cost-Reverse-Mortgage-Help
We originate reverse mortgages in Florida, Texas and California
In Texas DBA “iReverse Home Loans of Texas, Corporation”
FHA Counseling
Session
Before you can complete your reverse mortgage application, 
the FHA requires that all potential borrowers must first participate
 in a counseling session provided by an independent third party agency that is approved and certified by the FHA

The counseling session is mandatory and is making sure you 
understand the process, are aware of the financial implications 
and get all of your questions answered. 











Prior to be counseled, you will receive an information packet from your Reverse Mortgage Consultant that will include the following:

  • An informational document called “Preparing for Your Counseling Session”
  • A loan comparison printout so that the counselor can review with you your potential eligibility from the program.
  • A Total Annual Loan Cost (TALC) Disclosure that illustrates the possible cost of the loan and how it changes for different durations of time that the loan may be outstanding.
  • The National Council on Aging (NCOA) booklet Use Your Home to Stay at Home – A Guide for Homeowners Who Need Help Now











During the counseling session you will get information and advice based on an analysis of your budget situation. The session will likely begin with a discussion about your goals and the reasons why you decided to apply for a reverse mortgage. Additionally you will review your current income, your debts including your existing mortgage, your monthly expenses, medical expenses, planned home improvements and your ability to access cash funds if necessary.  

Other topics covered will include your desired plans to stay in your home versus moving and other options that may be available as alternatives to a reverse mortgage. The counselor will go over a projection of how much you can expect to receive from a reverse mortgage, the expected fees for the transaction and which payout options is best for you. In general the session will take between 45-60 minutes.  
















Counseling may be done face to face or over the phone. The counseling session usually costs between $89-$125 and is paid directly by the borrower to the counseling agency. In some cases this fee can be paid out of the proceeds of the reverse mortgage at closing.  

All borrowers receive a customized list of counseling agencies based on your location. At least 5 of the agencies must be local so you have the option to drive to the agency’s office for a face-to-face session. At least 5 other agencies listed will be national agencies such as the National Council On Aging (NCOA) or AARP which can offer the counseling session over the phone.




If you have any questions about Reverse Mortgage Counseling, please contact us so we can explain any details of the program...
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
​iReverse Home Loans, Corporation
Branch Office * 8231 Tobago Lane, Wellington, FL  33414 * Branch NMLS #1613062
Branch Manager Russel Helfman M.B.A.   * Individual NMLS #387498
855-434-2349 (Phone) * 516-706-6125 (Fax)
Corporate Office * 7689 Sitio Algodon, Carlsbad, CA  92009 * Corporate NMLS #1564664
Low-Cost-Reverse-Mortgage-Help
We originate reverse mortgages in Florida, Texas and California
In Texas DBA “iReverse Home Loans of Texas, Corporation”