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Seniors, 62 or older, intending to apply for a Reverse Mortgage are required to be counseled before applying for the loan. SCUCS provides the counseling portion of this process only. Counseling is done by a HUD Certified Counselor. SCUCS cannot recommend individual borrowers to applicant. This type of mortgage provides seniors with a line of credit or a monthly income based on the amount of equity in their home. A counseling session is required for anyone applying for a Reverse Mortgage.
Family members are encouraged to attend the counseling session.Fees:
Open to senior citizens, ages 62 or older, who meet the following criteria:
- Occupy the home as their primary residence
- House is free of liens
- Must be a single family residence, condominium, or townhouse
- Must be able to clear existing liens
Please call and ask to speak with the counselor to make an appointment. Applicants must bring required paperwork to the counseling session.
Last Update: August 03, 2017