Final answer:
Borrowers of reverse mortgages receive counseling from HUD-approved agencies to understand the terms and implications of the loan.
Step-by-step explanation:
Borrowers of reverse mortgages are typically required to undergo counseling to ensure they understand the terms and implications of the loan. This counseling is provided by HUD-approved counseling agencies and covers various topics such as eligibility criteria, financial implications, and potential risks. The purpose of this counseling is to ensure that borrowers make informed decisions and are aware of the potential impact on their financial situation and home equity.