The National Council on Aging (NCOA)has announced that Amy Ford has been named director of NCOA’s Reverse Mortgage Counseling Services Network. NCOA is one of nine Reverse Mortgage Counseling Intermediaries approved by the U.S. Department of Housing & Urban Development (HUD) to provide the counseling required for all older homeowners who are considering a reverse mortgage. Also known as Home Equity Conversion Mortgages (HECMs), reverse mortgages allow homeowners aged 62+ to convert a portion of their home equity into cash while they continue to live at home for as long as they’re able.
Ford will lead NCOA’s network of trained counselors who help older adults understand the costs and features of different types of reverse mortgages and evaluate the pros and cons of this financial tool for their situation.
As the only national aging organization that provides reverse mortgage counseling, NCOA brings a unique approach to helping older homeowners examine all of their options when it comes to staying independent as long as possible. HUD requires that all counselors use NCOA’s free, confidential BenefitsCheckUp service to determine if reverse mortgage clients are eligible for an array of benefits that could help them pay for everyday expenses like food, medicine, and utilities.
“NCOA is excited to have Amy join our staff,” said Nora Dowd Eisenhower, senior vice president for economic security at NCOA. “She brings a deep understanding of the critical importance of consumer protections and counseling for older adults who are considering a reverse mortgage. We look forward to Amy leading NCOA’s work to ensure that seniors make smart decisions about how to use their home equity.”
Before joining NCOA, Ford worked as a reverse mortgage program specialist at NeighborWorks America, where she facilitated the administration of HECM training to housing counselors at events around the country and online.