New Toll-Free Number for NCOA Reverse Mortgage Counseling: 1-855-899-3778
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New Toll-Free Number for NCOA Reverse Mortgage Counseling: 1-855-899-3778

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March 14, 2014

Media Contact
Brandy Bauer
202-600-3126
brandy.bauer@ncoa.org

Counseling helps older homeowners explore whether a reverse mortgage is right for them

Washington, DC (March 14, 2014) – The National Council on Aging (NCOA) today announced a new national toll-free number for older homeowners to sign up for counseling when considering a reverse mortgage: 1-855-899-3778.

Reverse mortgages allow homeowners aged 62+ to use a portion of their home equity and continue living in their home. Federal law requires that anyone considering the FHA Home Equity Conversation Mortgage must receive counseling from a government-approved agency. NCOA is one of nine groups approved by the U.S. Department of Housing and Urban Development (HUD) to provide this service.

NCOA reverse mortgage counselors do not sell any products. They work with seniors to weigh the pros and cons of a reverse mortgage to decide if this option is right for their situation. NCOA counselors also identify benefits and other supportive community services that can help older adults pay for basic necessities and remain independent in their homes as long as possible.

“Thousands of older homeowners use counseling to decide if a reverse mortgage is right for them,” said Amy Ford, NCOA’s director of home equity initiatives. “We’re proud to offer this service as a way to help seniors achieve lasting economic security and independence.”

Reverse mortgage counseling is one of several resources that NCOA provides seniors to improve their economic security. Other free online tools include EconomicCheckUp®, which helps with budgeting, debt reduction, and employment; BenefitsCheckUp®, which screens for thousands of public and private benefits programs; and My Medicare Matters™, an educational site that helps people make the most of their Medicare coverage.
 

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About NCOA The National Council on Aging (NCOA) is a respected national leader and trusted partner to help people aged 60+ meet the challenges of aging. Our mission is to improve the lives of millions of older adults, especially those who are struggling. Through innovative community programs and services, online help, and advocacy, NCOA is partnering with nonprofit organizations, government, and business to improve the health and economic security of 10 million older adults by 2020. Learn more at ncoa.org and @NCOAging.

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