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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Living Alone in Retirement? Consider What Your House Can Do for You
Living alone as a retiree can be stressful. Maintaining a house, finances, transportation, security and healthcare as an individual is a lot of work—especially later in life. But rest assured there are many Americans in the same boat, and there are tools available to help. About 28% of non-institutionalized people...
Five Things to Help Give You Peace of Mind about HECM Reverse Mortgage Safety
More than one million FHA-insured Home Equity Conversion Mortgage (HECM) loans have been issued since their inception in 1990. HECMs account for nearly all reverse mortgages made today in the U.S.* This useful loan option is designed to help homeowners and homebuyers age 62 and older convert some of their...
Reverse Mortgages and Credit Checks
In April 2015, the Federal Housing Administration (FHA) implemented new rules to make reverse mortgages safer. A borrower financial assessment was one area that FHA rebooted at the time. Now, if you apply for a reverse mortgage, your loan originator will go through a review of your income, cash flow...
Preparing for Your Reverse Mortgage Financial Assessment
Have you decided that you are ready to apply for a reverse mortgage? Before you complete your application, you will first you will need to take a few preliminary steps, starting with a mandatory financial assessment to make sure you are financially able to meet your loan obligations.* To get...
What are the Terms, Payments, Potential Benefits and Costs of a Reverse Mortgage?
A reverse mortgage can be a great way to help improve a retiree’s financial situation. By tapping into home equity while you still live in your home, you may be able to improve your lifestyle without moving. You may have heard about reverse mortgages, but what are the terms, benefits...
What is a Jumbo Reverse Mortgage?
Jumbo reverse mortgages - currently offered as proprietary reverse mortgages - are similar to the HECM (Home Equity Conversion Mortgage) reverse mortgage as they are both designed for homeowners, 62 or older, to convert a portion of their home equity into loan proceeds. However, with a “jumbo” reverse mortgage, you...