Trellis is one of the few agencies in the valley that provides Home Equity Conversion Mortgage (HECM) counseling. In 2017, Trellis has counseled 319 HECM clients, as of the date of this article. The agency has seen a surge in clients requesting more information on HECM loans due to the increasing population in the demographic sector of age 62 and above in Arizona. “During our session, I want to ensure that clients have the opportunity to ask all of their questions and I help them understand their variety of options so they can make an informed decision.” explains Beatriz Gallegos, Sr. Homeownership Advisor & Financial Education Coach. To schedule an appointment call Beatriz Galegos directly at 602-424-5331.

Here Are Some Reverse Mortgage Highlights:

  1. Before you obtain a “reverse mortgage” loan a.k.a. HECM (Home Equity Conversion Mortgage) it is mandatory to have a counseling session with a HUD approved Counselor. So the process is now safe and very regulated.
  2. The loan is based on a primary residence, which means you live in it at least 6 months and 1 day out of the year.
  3. Even if you have a Reverse Mortgage Loan, you can refinance or even sell your home. It is still flexible and within your control.
  4. When you have a Reverse Mortgage Loan you make no more mortgage payments at all. You will only be responsible for your homeowners insurance, property taxes and HOA.
  5. You must be at least 62 years of age to qualify for a HECM loan.