American Consumer Credit Counseling has received a grant of over $20,000 to provide reverse mortgage counseling.
The award comes from the National Community Reinvestment Coalition (NCRC), a national Housing and Urban Development (HUD) intermediary with more than 600 community-based affiliates.
With this funding ACCC will offer free reverse mortgage counseling to borrowers who are required to do the counseling in order to move ahead with their loan, as long as they income qualify. A Reverse Mortgage is a loan that enables homeowners 62 or older to convert the equity in their homes into cash, which can provide for increased financial independence and the ability to age in the home.
“Accessing money that has been built up as equity in their homes enables older Americans to enjoy increased financial independence,” stated Steve Trumble, president and CEO of ACCC. “We are thrilled to receive this NCRC grant, which, in part, allows us to further facilitate personal economic empowerment and community stability through homeownership by providing consumers access to education, counseling and other tools.”
“Reverse mortgages often seem confusing or complicated to prospective borrowers, and they hear all kinds of opinions as to the wisdom of getting a reverse mortgage,” added Scott Withiam, Housing Counseling Supervisor at American Consumer Credit Counseling. “Thanks to the generosity of HUD and NCRC, this grant will allow ACCC’s certified HECM counselors to continue with more one-on-one guidance for potential reverse mortgage borrowers. Counselors do their best to ensure that borrowers are fully informed, have weighed all of the risks, and look at the full financial picture before deciding on a reverse mortgage.”
To learn more about free HECM reverse mortgage counseling services, visit ACCC’s Housing Counseling Department online at http://www.consumercredit.com/our-services/housing-counseling.aspx. To speak with one of ACCC’s certified housing counselors, call 1-866-826-7180 or submit a counseling inquiry form at http://www.consumercredit.com/our-services/housing-counseling/housing-counseling-form.aspx
