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Housing Counseling FAQ
Q

When considering a waiver of the fee due to financial hardship, should the proceeds of the HECM be taken into account as a possible financial resource to pay the fee or should the agency base the decision to waive the fee only on the homeowner’s present financial situation?

Date Published: September 2015

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A

Yes, Home Equity Conversion Mortgage (HECM) proceeds can be factored into the analysis the counseling agency performs to determine if the client has the ability to pay for counseling.


Tags: Housing Counseling Program HECM Counseling Fees

FAQ ID:

2542