Why You may Need AARP Reverse Mortgage Counseling!

Free counseling from the AARP on reverse mortgages

Why You Need AARP Reverse Mortgage Counseling by Don Seibert

By federal law, all applicants for a reverse mortgage for seniors must receive credit

counseling on the matter before their application will be processed. The reasoning for this

counseling is quite simple. The federal government wants to ensure that you are fully aware

of the option that you are taking to provide income during your retirement and to be

certain that you are not getting involved in a scam. This sort of counseling is really a

good thing and does not have to cause you to incurr any additional costs. In fact, the

counseling may save you considerable dollars! There are many things that must be

considered carefully in order to make an informed, wise decision to obtain a reverse

mortgage.

AARP reverse mortgage counseling is a popular venue for this federally required credit

counseling. The first reason for this is that it is a free service provided by AARP for

members. According to the AARP, about eighty percent of seniors in America are enrolled

with the organization as a member. It is, then, no wonder that AARP reverse mortgage

counseling is the number one choice for most applicants. Additionally, since the AARP is

not in the reverse mortgage business, their counseling is independent and they can remain

objective. Remember the Law of the Barbershop! "Never ask the Barber if you need a

haircut!"

There are many things that will be discussed and determined during your AARP reverse

mortgage counseling. First, the counselor must review other options to ensure that a

reverse mortgage is right for you, your family, and you particular financial situation.

There are many other options available to assist you in your retirement that may be more

suitable to your needs. The counselor will also review your state or federal benefits, and

how the reverse mortgage will effect your eligibility. Your AARP counseling will also

provide you with full financial information about a reverse mortgage and its effects on

your taxes, your estate, and your heirs.

While there are many other reverse mortgage counseling services available at low rates or

no cost, AARP reverse mortgage counseling seems to be the top choice for most seniors. AARP

reverse mortgage counseling will enable you to see all of your options, choose carefully,

and consider all alternatives and implications before obtaining a reverse mortgage.

It really pays to do your homework before embarking on a reverse mortgage for

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