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Schuylkill Community Action is a U.S. Department of Housing and Urban Development (HUD) Certified Housing Counseling Agency.
SCA provides counseling services to clients who lack affordable "decent, safe, and sanitary" housing.
Priority counseling services provided by SCA include client intake for the Homeowners Emergency Mortgage Assistance Program (HEMAP), Reverse Mortgage Counseling (Home Equity Conversion Mortgage), Pre-Purchase and Post-Purchase Counseling, Closing Cost Assistance, Rental and Mortgage Assistance, Utility Assistance, Homeless Assistance, and the Information and Referral Network.
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Schuylkill Community Action is a HUD-approved agency that provides Home Equity Conversion Mortgage (HECM) Counseling.
Senior homeowners applying for a HECM must receive consumer education and counseling.
The HECM, a federally guaranteed reverse mortgage, can be used by senior homeowners, age 62 and older, to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home.
The loan, commonly known as a HECM, is funded by a lending institution such as a mortgage lender, bank, credit union or savings and loan association.
Homeowners aged 62 and older who have paid off their mortgages, or have only a small mortgage balance remaining, and are currently living in the home, are eligible to participate in HUD's reverse mortgage program.
As long as the borrower continues to occupy the property as their principal residence, no loan repayment is due.
If the borrower would move, sell, discontinue occupancy for twelve consecutive months, or in case of death, the reverse mortgage loan would become due and payable.
Additional Program requirements apply.
Please call SCA at (570)622-1995 for more information.
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