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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No Reverse Mortgage for My Mama
By Steven Cooley [NMLS #1389501] Full disclosure: I work for Finance of America Reverse, a good-sized company that sells reverse mortgages. I am a licensed loan officer and have a considerable amount of knowledge concerning the product. I know the pitfalls and benefits. I have the perfect prospect: my Mom....
Did You Know You Can Buy a House with a Reverse Mortgage
When it comes to reverse mortgages, they’re often talked about as a tool to help homeowners remain in the homes they have long lived in. Most mainstream advertisements focus on this benefit to senior borrowers. “Use your home to stay at home,” is an often-heard tagline. But did you know...
Ins and Outs of HECM for Purchase Transactions
A Reverse Mortgage for Purchase is like a traditional mortgage in many ways, but for real estate agents who have not been through the process, knowing how to handle this unique transaction is vital to both the realtor’s and borrower’s success. In a Home Equity Conversion Mortgage (HECM) for Purchase...
The Realtor’s Role in a Reverse Mortgage for Purchase Transaction
As a realtor, it may seem counter-intuitive to think that you need to know the ins and outs of reverse mortgages. But in fact, a specific type of reverse mortgage available to senior borrowers today may help you grow your real estate business. A reverse mortgage for purchase, otherwise known...
Financial Distress Doesn’t Have to Define Your Retirement Years
For those in retirement—or those approaching it—financial concerns may be at the forefront of your mind. Life expectancy has increased, as has the price of food, energy, and healthcare. Meanwhile, pension plans are disappearing, and social security is in danger. It’s no wonder that senior citizens are wondering: How can...
Downsizing with a Reverse Mortgage
If you’re like many empty-nester retirees, you may be living in a home that is entirely too big for your needs. Especially if you upgraded your family’s home at some point while your children were growing up, chances are, you’re following along an American trend of bigger houses over time....