Are all agencies charging the $125 recommended fee? If a client asks if there are other agencies charging a lesser fee, how should a counselor respond? Will there be a HUD phone number available for clients who wish to investigate other agencies? A website for clients would be helpful as well.
Date Published: September 2015
The fee policy is determined by each individual HUD approved agency. Some agencies may elect to continue to not charge a fee or to charge a fee other than the recommended $125. Each agency must be able to document that the fees that are charged are commensurate with the level of service. Clients can be referred to HUD’s Housing Counseling toll free number (800-569-4287) or to HUD’s website to find other agencies providing Home Equity Conversion Mortgage (HECM) counseling.