Form HUD 92911 HUD 92911 Home Equity Conversion Mortgage Cpunseling Client Survey

HECM Counseling Client Survey

HUD92911

HECM Counseling Client Survey

OMB: 2502-0585

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Home Equity Conversion U.S. Department of Housing OMB Approval No. 2502-xxxx

Mortgage Counseling and Urban Development (Exp. xx/xx/xxxx)

Client Survey Office of Housing

Federal Housing Commissioner

Counseling Agency Name and Address (completed by HUD office)



A “Reverse Mortgage” pays a homeowner loan proceeds drawn from accumulated home equity and that requires no repayment until a future time. A HUD approved reverse mortgage is called a Home Equity Conversion Mortgage (HECM). The following questions below relate to your HECM counseling experience.

1. How did you hear about the HECM program?

AARP website, handout Lender

or referral

HUD Staff or HUD website Television/radio ad

Newspaper or other Family member

publication

Senior fair or local program Estate planning firm

Other: _______________________________________


2. How did you hear about the counseling agency you

utilized?

HUD Staff or HUD website Lender referral

Local community action program AARP

State and/or local office on aging Estate planning firm

Random selection provided by Automated online

Lender referral system

Other: ________________________________________


3. Who interviewed you when you first contacted the

counseling agency?

A receptionist A counselor


4. Were you provided with a basic information package

directly related to your specific situation in advance of your

counseling session?

Yes No


5. If you answered “Yes” to question 4, did the information

package contain information on the various HECM options

available, the payment options and the amortization

sheets?

Yes No


6. Was the counselor knowledgeable of the HECM program?

Yes No


7. Where did the counseling take place?

In your home Counselor’s office

In private setting On the telephone

Other: _______________________________________


8. Was the setting in which the counseling was conducted

private so that no one could hear your conversation to insure confidentiality?


Yes No


9. How many times did you meet with your counselor? ___

(number of meetings, not counting initial intake call) and for

how long?

15 to 30 minutes 30 minutes to 1 hour

1 hour or more Other: _______________


10. a. Did the agency charge you a fee for the counseling?

Yes No


b. If “Yes,” how much was the charge for the counseling service?

$_______________


c. Did the counselor explain the basis for the charges?

Yes No


d. If “Yes,” did you find the fees reasonable?

Yes No


11. Did the counselor disclose to you, at any time, any

relationship it may have with a specific lender or bank?

Yes No


12. Did the counselor provide you with information about other

reverse mortgage programs or alternatives to reverse

mortgages?

Yes No

13. Which alternatives to a HECM were discussed? (check all

that apply)

Credit counseling Medicaid

Home equity/refinance Prescription drug program

Selling/moving Property tax/deferral

Home repair loan/grant Family support

Health/Social Services Reverse mortgage program

Other: _______________________________________


14. Did the counselor make any specific recommendations

regarding which lender to utilize?

Yes No


15. Did the counselor make any specific recommendations

about what mortgage product you should obtain?

Yes No


16. Did the counselor advise you of the potential impact a

HECM loan may have on the following?

Inheritance of property Medicare

Property tax and insurance Medicaid

Other retirement programs Social security



17. Did the counselor discuss the pros and cons and potential

pitfalls of purchasing an annuity with your HECM proceeds?

Yes No


18. Did the counselor make a specific recommendation as to

whether you should or should not obtain a HECM?

Yes No


19. If further counseling were necessary, would you:

Go to the same counselor/counseling agency

Go to another agency (briefly describe why) ________________________________________________


20. Did the counselor discuss your current financial situation

and complete a budget or financial analysis with you?

Yes No


21. As of today, have you:

Applied for a HECM/reverse mortgage

Decided not to apply

Undecided

Applied for an alternative program (specify which)

_________________________________________________


Please use the remaining space to provide any other comments you may have regarding your counseling experience.














Public reporting burden for this collection of information is estimated to average 10 minutes per response, including the time for reviewing instructions,

searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency

may not conduct or sponsor, and a person is not required to respond to, a collection information unless that collection displays a valid OMB control number.

This information is collected in connection with HUD’s Housing Counseling Program, and will be used by HUD to determine that the grant applicant meets

the requirements of the Notice of Funding Availability (NOFA) and to assign points for awarding grant funds on a competitive and equitable basis. The

information is required to obtain funding under Section 106 of the Housing and Community Development Act of 1974. There is no assurance of confidentiality provided.


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form HUD-92911 (xx/xx/xxxx)


File Typeapplication/msword
File TitleHECM Counseling
AuthorPreferred User
Last Modified Byh18889
File Modified2008-09-17
File Created2008-09-16

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