Reverse Mortgage Specialists

• Reverse mortgage advisors require speical training.Jupiterimages/Comstock/Getty Images
  
  Reverse mortgage specialists have general training in mortgages and might work for a bank, brokerage or other financial institution. However, the counselor needs to have training that's specific to reverse mortgages. With such training, he will be able to help you weigh the pros and cons of a reverse mortgage so together, and with your family, you can decide if it's right for you.
  
  

No-fee Reverse Mortgages

• The Federal Housing Administration recommends that seniors should not use any service provider who charges a fee, since the FHA provides free information to prospective applicants. The organization also provides, free of charge, a list of lenders that it approves. You can search online (fha.gov) or call toll-free 800 569-4287, to find your closest HUD-approved counseling agency.
  
  

Diverse Companies

• Ask your reverse mortgage specialist questions that satisfy you.Jupiterimages/Comstock/Getty Images
  
  The Internet has a wide list of reverse mortgage specialists and advisors. Some specialize only in reverse mortgages while others offer all types of financial products (ireverse.com). Some broker their services to a few wholesalers, and others are employed by or process their reverse mortgages through one company. Senior Mag (seniormag.com) is a directory that lists reverse mortgage companies and advisors.
  
  

Great Reading

• There's no shortage of informative books on the subject of reverse mortgages.Jupiterimages/BananaStock/Getty Images
  
  If you're the type of person that likes to get your information from hard copy, here are three books that received rave reviews: "Reverse Mortgages for Dummies" -- among other things, it helps you shop for the best reverse mortgage products and helps you find a counselor; "The Reverse Mortgage Advantage" -- focuses on the pros and cons of reverse mortgages; "The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income" -- tells you how to use reverse mortgages to your advantage.