Reverse mortgages have really started to become popular among senior homeowners today. They are helping to supplement the incomes of retirees all over and the trend is only going to continue to grow in the coming years.
To help protect people in applying for a reverse mortgage, the government requires every applicant to take a credit counseling class before any loan can be processed. One of the best ways to get this required counseling is through AARP. Here’s a look at what you can expect with AARP reverse mortgage counseling.
With nearly 80% of all seniors being a member of AARP, there is little wonder why AARP reverse mortgage counseling is by far and away the most popular. It’s also offered free of charge to any current member.
You may be thinking that reverse mortgage credit counseling is just a waste of time and more government red tape to go through, but the truth is that this type of counseling can not only help you understand more about reverse mortgages, but also help you make the right decision in moving forward.
AARP will go through all the details about a reverse mortgage and how the loan process works. They will go over all of your options that pertain to your individual situation so you know if you’re making the best choice. You may even discover through this process that a reverse mortgage loan isn’t the best option for you.
The counselor will discuss all the benefit options with you, as well as how this type of loan may affect other benefits you are receiving currently.
You’ll have a better understanding of taxes and your estate through AARP reverse mortgage counseling and how it can affect your heirs in the future.
AARP is not your only option when it comes to reverse mortgage counseling. There are many other services available, but with that said, you won’t go wrong with AARP for this type of loan counseling. When finished you will know you are making the right decision in applying for a reverse mortgage.