Reverse Mortgage

RDI provides quality counseling with a quick turn-around time.  Currently, clients are able to complete their HECM counseling session in about 48 hours. 

Our role is to provide you with the information they need to make their own decisions about the various reverse mortgage loans and other alternatives that may be available to them. We do not endorse or recommend any reverse mortgage loan or lender. The counseling process explains the key features of reverse mortgages in general by covering the costs, benefits, and financial implications of these loans.

Scheduling

We have simplified the scheduling process and recommend utilizing the online scheduling form  here:

http://www.cccsmt.org/webforms/reverse-mortgage-scheduling-form

We recognize that not all clients have email or internet access.  Appointments can also be scheduled conveniently through the toll-free line:  1.877.275.2227.

HECM Packets

Per HUD regulations, all seniors considering a HECM loan must have time to review the HUD HECM Packet. The packet provides you information regarding what you can expect during the process, how it works, frequently asked questions, steps in the Reverse Mortgage process, eligibility requirements, borrower obligations, and the National Council on Aging guide to reverse mortgages.

Here is a link to download a copy of the packet we use.

Fees

The cost of the HECM counseling session is $125. As a service to our clients, we allow you to either pay the $125 at the time of the session or you can roll the cost of counseling session into the closing of the loan.  If you choose to roll the fee into the closing of the loan, the fee will be postponed until the loan has been processed and there is a deferral fee of $50 for this service. 

If the payment is deferred to closing, we will submit an invoice at the time we issue the certificate.  This invoice should be given to your lender/broker to ensure payment out of the loan closing.

If you have any questions or concerns about RDI’s roles as a counseling agency, please contact us at 1.877.275.2227.