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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How to Potentially Protect Your Client’s Portfolio with a Reverse Mortgage
“Using reverse mortgages as portfolio buffers and emergency reserve funds will help protect against the premature eroding of portfolio assets because of poor timing.”1 There are many ways a reverse mortgage can be used as a practical way to benefit your clients’ portfolios. If used strategically, they can even see...
Navigating the Reverse Mortgage Financial Assessment
Every reverse mortgage applicant is required to undergo a financial assessment as part of the application process. This important step, required by law, is designed to protect the borrower and ensure they have the financial means to meet the loan's requirements. The assessment was designed to decrease the number of...
Use a HomeSafe® Jumbo Reverse Mortgage for Your Florida Home
You may have heard of the benefits of a HECM (Home Equity Conversion Mortgage) reverse mortgage, but if you are an older homeowner with a high-valued home, you may be unaware that there is there a specific reverse mortgage, the HomeSafe® jumbo reverse mortgage, geared for your situation. With the...
The New Safety Features of Reverse Mortgages
Reverse mortgages have been in existence for nearly three decades, and the good news is that they’re safer today for borrowers and lenders. If you have been considering a reverse mortgage, there are some new features designed especially with borrowers’ as well as the lenders’ protections in mind. Why the...
What are My Responsibilities if I Get a Reverse Mortgage?
If you’re thinking about getting a reverse mortgage, you’ve probably explored the benefits it can provide. Unlike a traditional “forward” mortgage, the HECM (Home Equity Conversion Mortgage) borrower is not required to make mortgage interest or monthly mortgage payments during the lifetime of the loan.* Instead, the loan and interest...
Reverse Mortgages Made Safer With HUD-Approved Counseling
Financial counseling is an integral stepping stone on the path to getting a reverse mortgage. Before any homeowner age 62 or older can take out a reverse mortgage, they must undergo mandatory counseling to participate in the Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (HECM) program. The Department...