With all of the talk about trimming the economy, there are a few items that will effect seniors looking for reverse mortgages. The cost of HECM Reverse Mortgage Counseling is typically going for about $125 right now but many counselors have been providing this service free of charge since the government has been subsidizing this. A recent report indicated that the money for this subsidy is running out and will be gone by October 1.
If you are thinking about a reverse, moving forward now may be a good bet since there are currently several counseling locations offering it for free. More money in your pocket.
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