| Overview |
| Reverse Equity Mortgage |
| First Time Homebuyers Seminar |
| Pre-Purchase/Post Occupancy Counseling |
| Mortgage Default & Delinquency Counseling |
| Rehabilitation Counseling |
Reverse Equity Mortgage A reverse equity mortgage is a financial product available to homeowners age 62 and older to use the equity in their home to access immediate cash or provide a cash flow over their lifetimes. Homeowners wishing to enter into a reverse equity mortgage are required by Federal and State regulations to complete a counseling program sponsored by an approved counseling agency. The Plymouth Redevelopment Authority is approved by the U.S. Department of Housing and Urban Development (HUD) and the Commonwealth of Massachusetts Executive Office of Elder Affairs (EOEA) to provide free reverse equity mortgage counseling. A reverse equity mortgage may not be appropriate for every senior wishing to access cash and therefore a major portion of the counseling investigates other means to reduce expenses, access additional income or programs, and/or obtain grants. |
