Raleigh/Durham, NC - The Homeownership Center, a division of Consumer Education Services Inc., a Raleigh-based national nonprofit organization, announced today a new opportunity for any homeowner who is 62 years old or older and might be considering a reverse mortgage.
The Homeownership Center recently received re-certification from Housing and Urban Development to provide reverse mortgage counseling services. In the fall of 2009, HUD implemented new very strenuous requirements for reverse mortgage counselors. This new process dramatically reduced the number of counselors not only in North Carolina, but all across the United States. Because of this shortage, many reverse mortgage clients have to wait up to two months to get an appointment to schedule a session which is mandatory in order for them to get a reverse mortgage. The Homeownership Center is able to provide assistance residents in the Triangle and some surrounding areas.
“We are willing and able to travel to assist residents because this education is necessary, and we are among the few qualified to provide the counseling” says the Housing Program Manager, Leigh Lester Holmes.
A reverse mortgage is home equity that is converted into a lump sum payment or series of payments to the homeowner. A reverse mortgage is a loan and must be paid back once the homeowner is deceased or no longer uses the residence.
Information about reverse mortgages is available online at http://cesidebtsolutions.org/
The Homeownership Center
The Homeownership Center supports the delivery of a wide variety of housing counseling services to potential homebuyers and current homeowners. Counselors provide guidance, advice, and advocacy to help families and individuals meet their financial responsibilities and improve their housing conditions and choices. The division currently focuses on families that are facing foreclosure and financial crisis and well as clients looking to purchase their first home; however, it still services clients who are need credit and budgeting assistance.
