Notice
Due to the lapse in Congressional Appropriations for Fiscal Year 2019, the U.S. Department of Housing and Urban Development (HUD) is closed. This website is supported by a cooperative agreement funded under a prior appropriation. Current functions will remain operational but no new functions will be added during the lapse in appropriations. For more information, see HUD Contingency Plan for Possible Lapse in Appropriations.
Housing Counseling FAQ
Q

How do counseling agencies provide for payment when a client elects to finance the counseling fee but has not seen a lender and ultimately does not go forward with the loan?

Date Published: September 2015

Print ShareThis

A

The agency should establish procedures for collection of the counseling fee. In the case where a client does not get a Home Equity Conversion Mortgage (HECM) loan, the agency may try to collect the fee from the client 180 days after the HECM counseling session.


Tags: Housing Counseling Program HECM Counseling Fees

FAQ ID:

2549