Reverse Mortgage Counseling

Due to constrictions with FHA/HUD funding, many FHA counseling agencies have begun to charge again for the required reverse mortgage counseling sessions.  Up to recently, they were able to offer seniors free sessions from FHA grants they had previously received.  The reverse mortgage industry is urging FHA/HUD to allocate funds for counseling expenses, as many seniors are unable to afford the counseling fee which ranges from $89 - $125.  However, most agencies will allow the fee to be financed into the loan if unable to pay upfront.  Check with a reverse mortgage lender for a list of counseling agencies and for the latest on which agencies may be still offering free counseling at this time.