Home Equity Conversion Mortgage (HECM) borrowers with delinquent property charges should be referred to a HUD-approved Housing Counseling Agency (HCA) to receive free assistance in identifying viable options to resolve their delinquency or provide referrals to available local resources to provide funds or homestead exemptions.
When referring borrowers to an HCA, the Mortgagee must also provide the
- Contact information for the person at the Mortgagee's office whom the counselor may contact directly to make inquiries or discuss the borrower’s loan and financial circumstances; and
- Length of time the counselor has to identify a viable solution that may assist the borrower with curing the delinquency, or any alternative steps to address the unpaid property charges.
Servicing Mortgagees may refer delinquent HECM borrowers to the following for counseling:
Greenpath
(888) 860-4167
https://www.greenpath.com/
Guidewell Financial Solutions
(800) 642-2227
https://www.cccsmd.org/
Money Management International
(877) 908-2227
http://www.moneymanagement.org/
Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/
National Foundation for Credit Counseling
(866) 698-6322
http://www.nfcc.org/
Neighborworks America
(202) 760-4000
http://www.neighborworks.org/Homes-Finances/Homeownership/Homebuyer-Tips
HUD Exchange at: https://www.hudexchange.info/programs/housing-counseling/hecm/default/#agency-participation-in-hecm-default-counseling