Consumer Credit Counseling Service (CCCS) of Greater Atlanta announced it will be offering free reverse mortgage counseling sessions nationwide.
The agency received a $1.8 million grant from the U.S. Department of Housing and Urban Development (HUD) which enables CCCS of Greater Atlanta to provide more than 12,500 reverse mortgage counseling sessions at no cost through September 2010 said a company statement.
“A reverse mortgage can offer seniors greater financial security,” said Suzanne Boas, president of CCCS of Greater Atlanta. “It can be used to supplement social security or meet unexpected medical expenses, allowing seniors to remain in their homes. However, it can be an expensive option, and is not the right solution for everyone.”
“We hope seniors across the country will take advantage of this opportunity,” Boas continued. “Obtaining this free counseling from a reputable and qualified nonprofit agency will help them understand all aspects of a reverse mortgage loan, and make an informed decision that is best for their unique situation.”
HUD requires all reverse mortgage lenders to provide homeowners a list of nonprofit counseling agencies that provide reverse mortgage counseling. CCCS of Greater Atlanta is one of a small number of counseling agencies designated by HUD to provide counseling nationwide.
Seniors can schedule a reverse mortgage counseling session by calling CCCS of Greater Atlanta directly at 866-616-3716, seven days a week, in English and Spanish. Counseling can also be initiated online.