Articles & News
Diversifying Retirement Strategies
Diversifying your investment portfolio is crucial to your retirement strategy. A reverse mortgage can free up cash for greater liquidity, so you can continue investing in retirement accounts, buy real estate and much more.
A Resilient Home Even In Face of Disaster
What happens when you take the time to write a letter? In our continuing series, #MeetFar, we find out what happens when we hear directly from our customers about how they’ve been able to accomplish something because of us. We can have everything perfectly planned and ready to go, and...
Stop Financial Stress
You might have been comfortable with your financial retirement plan last year, but everything turned upside down since then. However, the world and the economy are unprecedented that no one could have anticipated. As baby boomers near the end of our careers, we need to reinvestigate our retirement financing options....
Build a Retirement Plan with HomeSafe
You may have heard of the benefits of a HECM (Home Equity Conversion Mortgage) reverse mortgage. Still, if you are an older homeowner with a high-valued home, you may be unaware that there is a specific reverse mortgage, the HomeSafe® jumbo reverse mortgage, geared for your situation. The HomeSafe Reverse Mortgage...
Sandwich Generation Commitments
Many of us "boomers" are finding ourselves in the "sandwich generation." It is a challenging situation where we take care of our parents while still supporting our adult children and perhaps strapped with their student loans. While our young adult children struggle to achieve financial independence, the burden may fall...
Using Your Home Equity To Leave A Legacy
There are so many misconceptions about reverse mortgages that we're starting to sound like a broken record. But it doesn't matter because when it comes to setting the record straight, we're in this for the long haul. We've seen how our products can change people's lives for the better, and...
These materials are not from HUD or FHA and were not approved by HUD or a government agency.
©2021 Finance of America Reverse LLC is licensed nationwide | Equal Housing Opportunity | NMLS ID # 2285 (www.nmlsconsumeraccess.org) | 8023 East 63rd Place, Suite 700 | Tulsa, OK 74133 | AZ Mortgage Banker License #0921300 | Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act | Georgia Residential Mortgage Licensee #23647 | Kansas Licensed Mortgage Company | Massachusetts Lender/Broker License MC2285: Finance of America Reverse LLC | Licensed by the N.J. Department of Banking and Insurance | Licensed Mortgage Banker -- NYS Banking Department where Finance of America Reverse is known as FAReverse LLC in lieu of true name Finance of America Reverse LLC | Rhode Island Licensed Lender | Not all products and options are available in all states | Terms subject to change without notice | For licensing information go to: www.nmlsconsumeraccess.org When the loan is due and payable, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds. The lender may charge an origination fee, mortgage insurance premium, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and the lender charges interest on the balance. Borrowers are responsible for paying property taxes, homeowner’s insurance, maintenance, and related taxes (which may be substantial). We do not establish an escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms. Interest is not tax-deductible until the loan is partially or fully repaid.
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