Home Equity Conversion Mortgage (HECM) Practice Test

Both HUD booklets must be provided to each client before finishing a HECM counseling session. These two booklets—Preparing for Your Counseling Session and Use Your Home to Stay at Home - A Guide for Homeowners Who Need Help Now—serve different but complementary purposes. The first prepares the borrower for what to expect in the counseling meeting, what documents to bring, and how the session will flow, ensuring they’re ready to engage and ask informed questions. The second offers essential information about staying in the home, the options available through the HECM and related assistance, and the potential costs and implications of using the program. Providing both ensures the client has a complete, clear view of the counseling process and the home equity options, enabling an informed decision. Relying on only one booklet would leave gaps in understanding, which is why the combined list is required.