Utah Reverse Mortgage Act

The state of Utah will be making changes that will impact counseling and loan applications on reverse mortgages.  Beginning on May 12th, the state will require that a prospective borrower shall first meet with an independent agency to complete the reverse mortgage counseling session before they can apply for a reverse mortgage.  Secondly, after completing counseling they must wait seven days ("cooling off period") before that application can be done with their lender.  Read more about the Act here.

For more information on reverse mortgages and other related topics contact:

Rick R. Rodriguez
Certified Reverse Mortgage Professional, CRMP
NMLS# 473353
Toll Free (877) 500-0454
Local (702) 460-6222