Within the next 60-90 days HUD approved counselors will be required to utilize a new financial interview protocol that is designed to help counselors determine that borrowers interested in a reverse mortgage loan will have the financial ability to maintain property taxes, homeowners insurance and maintenance of the home once the loan is in place. If the counselor concludes that there is not sufficient income to support these obligations they can, at their discretion withhold the certificate of completion preventing the loan from moving forward.

Potential borrowers will want to make sure they have taken some time prior to the counceling session to gather up some basic information about thier monthly overhead.