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Frequently Asked Questions
Q: Why must I speak with a counselor before completing my reverse mortgage application?
A. This is a federally mandated feature of the reverse mortgage process and is designed for your protection. The counselor, who is from an independent government-approved housing counseling agency, explains in detail the pros and cons of your reverse mortgage alternatives. He or she will discuss reverse mortgage costs and financial implications as well as tell you about any government or nonprofit programs for which you may qualify.
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