What to Expect in Your HECM Counseling Session: The 10 Questions You’ll Be Asked

A Home Equity Conversion Mortgage (HECM), often called a reverse mortgage, can feel unfamiliar — even intimidating — when you first begin exploring your options. That’s why HUD requires every borrower to participate in a counseling session with an independent, certified housing counselor. This session is not a sales pitch or a test. It’s a protected space to understand how these loans work and to make sure your decision reflects what’s best for you.

Many people enter counseling feeling unsure about what will be asked or expected of them. The truth is simple: counselors are there to support you. Their questions help you think through your goals, responsibilities, and long-term plans so you can move forward with clarity and confidence.

What HECM Counselors Do

HECM counselors are trained, HUD-certified professionals who work for nonprofit housing agencies. Their role is straightforward: help you understand the reverse mortgage process so you can decide whether it fits your needs. They will review your overall financial picture, look at your monthly budget, answer your questions in plain language, and explain how the loan works over time.

Before the meeting, you’ll receive a packet of information to look over at your own pace. During the session, you set the speed. Counselors encourage questions, take time to explain unfamiliar terms, and make sure nothing is rushed or unclear.

What HECM Counselors Cannot Do

Counselors must remain neutral. They cannot recommend that you do or do not get a reverse mortgage. They don’t work for lenders and do not make loan decisions. Their job is to help you understand the facts and make sure you’re not being pressured or misled.

The only time a counselor might pause the process is if it becomes clear that a borrower does not understand the basic features of a reverse mortgage. In that case, they’ll slow down, provide more explanation, and revisit the key information together. The goal is understanding — not approval or denial.

1. What Is Your Main Reason for Considering a Reverse Mortgage?

Most counseling sessions begin here. Counselors want to understand your goals in your own words. Are you hoping to stay in your home, manage medical expenses, reduce financial stress, or complete important repairs? Or is someone else encouraging you to apply?

This question helps the counselor ensure the conversation stays centered on your needs — not outside influence, pressure, or misunderstanding.

2. What Alternatives Have You Considered?

A reverse mortgage is one of several possible paths. Counselors will ask whether you’ve explored other options such as downsizing, refinancing, home equity loans, local assistance programs, or support from family. You don’t need to have researched everything in advance, and there are no “right” answers here.

The goal is simply to make sure you are aware of choices and choosing the one that feels most suitable for your current stage of life.

3. Do Your Current Financial Resources Support Your Needs?

This question isn’t about judgment. It’s about making sure you can live safely and comfortably after the reverse mortgage is in place. During the session, expect to review your monthly budget, regular expenses, and any income sources such as Social Security, pensions, or retirement savings.

If a HECM would only provide short-term relief, the counselor may help you identify resources or programs that can supplement your situation. You remain in control throughout the discussion.

4. How Long Do You Plan to Stay in Your Home?

A HECM works best when you intend to remain in your home long-term. If you expect to move soon — perhaps due to health needs or family changes — the cost of setting up the loan may not be worthwhile.

Counselors aren’t trying to predict your future. They’re simply helping you see whether a reverse mortgage aligns with your plans and comfort level.

5. What Responsibilities Will You Still Have as a Homeowner?

One common misconception is that a reverse mortgage eliminates household expenses. It does not. You remain responsible for:

• Property taxes
• Homeowners insurance
• Utilities
• Maintenance and repairs

Falling behind on taxes or insurance can threaten your ability to remain in the home, so counselors make sure these responsibilities are fully understood.

6. How Will a HECM Affect Your Estate or Heirs?

Because reverse mortgage balances grow over time, it’s important to discuss what that means for your estate. Typically, the loan is repaid when the home is sold. Your heirs can keep the home if they choose, but they would need to pay off the remaining loan balance.

Many families find it helpful to involve adult children in this part of the conversation so expectations are clear for everyone.

7. Which Payment Option Do You Prefer?

Reverse mortgages offer several ways to access funds, including lump-sum payments, monthly income, or a line of credit. Each option affects your finances differently, and counselors will explain the trade-offs so you can choose what feels most comfortable for your needs and lifestyle.

You are never required to choose a payment plan during the session. You can take time afterward to think or discuss your options with family.

8. Do You Understand When and How the Loan Must Be Repaid?

HECMs are repaid when the last borrower permanently leaves the home or passes away. The loan is typically settled through the sale of the home. One important protection is that HECMs are non-recourse loans — your family will never owe more than the home’s value.

Understanding this upfront prevents confusion or stress later, and counselors will walk through examples in simple, clear terms.

9. Have You Reviewed the Estimates and Disclosures?

You will receive documents that outline the projected costs of the loan, including fees and long-term cost estimates. You don’t need to memorize anything. The counselor simply wants to make sure you’ve looked over the materials and feel comfortable asking questions about what you see.

10. Are There Any Home Repairs or Accessibility Needs?

A reverse mortgage is designed to help seniors age safely at home. Because of this, counselors will ask whether any important repairs or accessibility upgrades are needed — such as grab bars, safer lighting, or roof repairs.

If you’re unsure, that’s fine. Many homeowners discover new needs during the conversation, and counselors can help connect you with resources or programs that may help.

Why These Questions Matter

Each question is designed to protect you. They help uncover your goals, clarify responsibilities, highlight potential risks, and confirm that you understand what you’re signing up for. There is no penalty for uncertainty. Counselors expect people to come in with questions and even mixed feelings.

The purpose of counseling is safety, understanding, and empowerment — not pressure.

How to Prepare for Your Counseling Session

You don’t need to bring perfect answers, and you don’t need to study to be “ready.” Preparation simply makes the conversation smoother. Consider taking a few minutes to:

• Review your monthly budget or income sources
• Think about how long you want to remain in your home
• Gather estimates for any major repairs you’ve been considering
• Talk with loved ones about your long-term plans
• Write down questions or concerns

Most importantly, remember this: the counseling session is for you. You set the pace. You decide what matters. And you control the final decision.

Money Fit is here to support you with information, clarity, and compassion. If you’re ready to take the next step, schedule your HUD-certified reverse mortgage counseling session whenever the time is right for you.