1st Reverse Financial Services, LLC

Reverse Mortgage loans are designed by the U.S. Department of Housing and Urban Development (HUD), Fannie Mae and other private institutions. Most of the Reverse Mortgage loans made today are insured by the Federal Housing Administration (FHA); a government supported mortgage insurance program.

All borrowers must obtain counseling prior to applying for a Reverse Mortgage. Counseling is only available from approved, independent, third-party sources and the counseling is designed to highlight and discuss:

Financial implications of obtaining a Reverse Mortgage.
Other options that may exist including housing, social service, health and financial programs.
Other home equity conversion options that may exist.
Possible tax consequences for the homeowner and their heirs.
Role and relationship between the homeowner and the lender, financial advisors, estate planning services, etc.
Allowable costs and expenses associated with Reverse Mortgages.

Additionally, consumers have a variety of nationally recognized resource providers that can be accessed for additional information including:

The Department of Housing and Urban Development (www.hud.gov)
The Fannie Mae Foundation (www.fanniemae.com)
A. A. R. P. (www.aarp.com)
National Reverse Mortgage Lenders Association (www.nrmla.com)