The National Council on Aging (NCOA) and GreenPath Financial Wellness recently announced a partnership to provide older Americans with unbiased reverse mortgage counseling, among other financial services.
Regardless of how much retirement savings older adults have, more than 61% of households headed by an adult over age 60 carry some form of debt, making economic security a real and pressing concern for millions of Americans, the organizations stated in a release issued Wednesday.
“Our partnership with GreenPath is the evolution of NCOA’s holistic approach to helping seniors maintain their economic security and independence,” said Amy Ford, director of NCOA’s Home Equity Initiatives. “NCOA is an innovator in providing unbiased information for older Americans. GreenPath’s expertise will help us significantly increase the number of seniors we can assist.”
NCOA will train GreenPath counselors to enhance their understanding of the needs of older adults and will become the hub for calls from older adults who are looking for counseling on reverse mortgages.
Counselors will take time with each individual to develop a personalized plan that works for them, as well as point them in the right direction to locate supports that are available in their community to help them stay as independent as possible.
In addition to reverse mortgage counseling, GreenPath will provide other services such as helping consumers pay down debt, avoid bankruptcy and manage their retirement funds.
GreenPath Financial Wellness is a non-profit financial counseling and education organization, established in 1961. They partner with residents in all 50 states and have 60 debt counseling offices across 16 states. GreenPath also delivers financial counseling services over the phone and online.
“GreenPath has been empowering people to lead financially healthy lives for more than 50 years,” said Kristen Holt, president and CEO at GreenPath. “Working collaboratively with NCOA, we can empower older adults to eliminate financial stress and achieve their financial goals.”
Written by Alana Stramowski