Reverse Mortgage Info & Your Retirement Resource | FAR

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Thank you for your interest! Please call us at 855-421-4745 for more information on how we can help!

FAReverse LLC i/l/t/n Finance of America Reverse LLC is Licensed Mortgage Banker in the State of New York, but this site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.
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By submitting this request for information, I hereby provide my signature, expressly consenting to receive information by email or phone, via automated dialing systems, texting, and/or prerecorded messages,  from or on behalf of Finance of America Reverse LLC and its fulfillment partners and may agree to receive other offers on the telephone number I provided above, including my wireless number, even if I am on a State or Federal Do-Not-Call list. I understand consent is not a condition of purchase and that I may revoke my consent at any time. I can revoke consent by calling FAR customer service at 855-421-4745, or contacting my loan officer.

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Five Myths and Five Truths About Reverse Mortgages

Reverse Mortgages have been around for over 50 years and have gained quite a reputation in that time. Throughout their history, reverse mortgages have changed the lives of so many people. Still, there are a lot of misconceptions about them. Here, we look at the top five reverse mortgage myths and...

Surviving the pandemic with Cosmo the poodle

As the death toll in the US rises and nationwide protests compel us to look more closely at our values as a Nation, it would be easy to fall into a mighty deep funk. I'm not, and I remain somewhat optimistic, and one huge reason for that is a thirteen-month...

The Return of Team Sports: hopefully safe, definitely different

Maybe like some of you, one of the by-products of the pandemic that has disrupted my life most is team sports suspension. While Golf, NASCAR, and mixed martial arts have returned, not so with team sports,…yet. My favorite sporting event is March Madness, the men’s and women’s college basketball tournaments. ...

Planning for retirement

In light of unsure economic times surrounding the current pandemic, many are rethinking their retirement plans. Steve Resch, VP of Retirement Strategies at FAR, shares a risk management tool that he says can ensure a diversified and stable retirement strategy. This interview originally appeared on Coast Live on...

Plasticity – a key to overcoming Alzheimer’s

Not too long ago, I posted a blog about the Nuns Study, a brain science research project that studied nuns from the order of Notre Dame over several years. They administered annual cognitive exams of each subject, and when they died, examined their brains. One of the subjects, Sister Bernadette,...

My Father-in-Law

The seasons are passing one by one So gather moments while you may Collect the dreams you dream today Remember, will you remember The times of your life? Times of Your Life, Paul Anka In the film Father of...

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

©2022 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.

STATE OF ILLINOIS COMMUNITY REINVESTMENT NOTICE

The Department of Financial and Professional Regulation (Department) evaluates our performance in meeting the financial services needs of this community, including the needs of low-income to moderate-income households. The Department takes this evaluation into account when deciding on certain applications submitted by us for approval by the Department. Your involvement is encouraged. You may obtain a copy of our evaluation. You may also submit signed, written comments about our performance in meeting community financial services needs to the Department.

Questions or complaints? Email us at customerrelations@financeofamerica.com