The FHA has established regulations for HECM mortgages which are intended to protect you, the borrower, as well as the lender. People who apply for an HECM mortgage must complete a counseling course with an agency approved by the U.S. Department of Housing & Urban Development (HUD). The course explains the benefits and potential risks of an HECM mortgage for older adults.An experienced mortgage broker can explain the reverse mortgage process to you. They can also link you with an FHA-approved HECM lender. They can guide you through the HUD counseling process and explain the risks involved in a reverse mortgage.Contact California Platinum Loans today to learn more.

California Platinum Loans

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