Update on COVID-19

Finance of America Reverse LLC (“FAR”) understands you may be facing unique hardships during this difficult time. Many borrowers who are currently experiencing financial distress related to COVID-19 may be eligible for some type of assistance. Please contact us for information regarding options that may be available to you. If you are impacted by COVID-19, please call 866-654-0020 and have your loan number ready for the Customer Service representative.

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Denver, CO, July 23, 2014 — In an interview with The Villager Newspaper, Peter Bell, president of the National Reverse Mortgage Lenders Association (NRMLA), explains how reverse mortgages work, what’s new about them, and why people should start looking at their home equity as a financial asset.

Says Bell, “The big challenge for us as a society is funding longevity. My grandparents worked till age 70 and passed away at 78. They had eight years of retirement. My dad worked till 65 and now he’s 90. How do we make those resources last? When you look at (the baby) boomers, there’s 60 to 70 million of us approaching retirement and half have no savings other than the wealth in their homes. Clearly, home equity has to be part of the funding-longevity equation.” Read more.





This article is intended for general informational and educational purposes only, and should not be construed as financial or tax advice. For more information about whether a reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional.