REVERSE MORTGAGE COUNSELING

A Reverse Mortgage is a unique loan that enables senior homeowners 62 years of age and older to convert a part of the equity in their homes into tax-free income without having to sell the home, give up title or take on a monthly mortgage payment.

• No monthly mortgage payments
• No income or credit requirements 
• Senior can receive monthly income
• Non-recourse loan – Senior will never owe more than the value of the home and no other assets are obligated for the loan.

HOW CAN SENIORS USE THESE FUNDS?

• Pay off existing mortgage
• In home care
• Property taxes 
• Home repairs
• Prescription Drugs
• Vacation
• Any reason

Family Services, Inc. is a HUD housing counseling agency currently providing Reverse Mortgage Counseling free of charge to seniors. For more information or to make an appointment with a counselor please contact the Housing Department at 843-744-1348 ext. 35.