Quick Answer
To prepare for your HUD counseling session, have ready: a recent mortgage statement, your most recent property tax bill and homeowners insurance details, an estimate of your home's value, a list of your income sources and debts, and any reverse mortgage figures your lender has provided. Coming prepared keeps the session to about an hour and ensures the counselor can address your specific situation.
Talk to Reverse Mortgage Plus First (Highly Recommended)
Before scheduling your HUD counseling session, we recommend a free conversation with a Reverse Mortgage Plus advisor. In 20–30 minutes, we can: run a preliminary estimate based on your age and home value, explain how a reverse mortgage would work in your specific situation, answer your initial questions so you can focus your counseling session on what matters most to you, and give you a list of questions tailored to your goals to bring into the session. This preparation step is at zero cost and zero obligation — it simply makes your counseling session more productive. Call us or use the form on this page.
Documents to Gather Before Your Session
Have these in front of you when you call your counselor:
- 1Most recent mortgage statement — shows your current loan balance, lender name, and monthly payment amount.
- 2Property tax bill — the most recent bill showing your annual tax amount.
- 3Homeowners insurance declarations page — shows your annual premium and coverage.
- 4Home value estimate — a recent Zillow, Redfin, or county assessor estimate is sufficient; you do not need a formal appraisal at this stage.
- 5Monthly income summary — total income from Social Security, pension, rentals, part-time work, or any other source.
- 6HOA statement — if your home is in a community with HOA fees, the monthly amount.
Questions to Ask Your Counselor
General questions worth asking in every session: What are all the costs involved — upfront and ongoing? How will the loan balance grow over time, and what will my home equity look like in 10 or 20 years? What are my obligations as a borrower, and what happens if I can't meet them? What happens to my spouse or partner who lives in the home? What happens to the home for my heirs after I pass? What alternatives exist for someone in my financial situation? Are there any California-specific programs or protections I should know about?
Questions Specific to Your Situation
In addition to general questions, bring questions that reflect your specific goals: If you want to eliminate a mortgage payment — ask how much proceeds would be left after payoff. If you want a growing emergency fund — ask specifically about the HECM line of credit and how the growth rate works. If you have a spouse younger than 62 — ask about Non-Borrowing Spouse protections. If you have a condo — ask whether your condo is FHA-approved and what the implications are. If you have a high-value home — ask about proprietary reverse mortgages and whether the HUD limit applies.
After Your Session: Next Steps
After counseling you will receive your Counseling Certificate. From there:
- 1Review your session notes and call Reverse Mortgage Plus with any follow-up questions.
- 2Decide whether you want to proceed with an application — there is no obligation or pressure.
- 3If you want to move forward, your Reverse Mortgage Plus advisor will guide you through the application, financial assessment, FHA appraisal, and closing.
The certificate is valid for 180 days — you have time to think and ask questions before committing.
