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