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FAREVERSE.COM FAQS |
It’s not easy planning for your retirement years— and not everyone faces that challenge head on. We want to know how you made it happen. Your inspiration could help others take control of their retirement too, so don’t hold back.
Share highlights about your retirement planning and where you are today.
Use your smartphone to record yourself speaking about your experience.
If you aren’t submitting a video, we’d love to get a picture of you enjoying retirement — or you and your significant other.
We may reach out in the future to ask you to elaborate on your story or inquire if you’d be interested in doing a larger feature about your experience.
See our FAQs below for more information on how to submit your video.
Don’t worry about creating a polished video. Simply jot down a few thoughts ahead of time. Then use your smartphone to record your message. Make sure your phone is horizontal and on a flat, stable surface. Start with your name and your hometown, and in your own words, tell us about your reverse mortgage experience. It doesn’t have to be long, aim for 1-2 minutes.
FAR is proud to share our customers experiences. With your approval, we’d like to share your story either in printed form or video. If your story is selected for a video, FAR will contact you to see if you’re interested in participating in a professional video production.
Yes! Of course. We will contact you to present your final written testimonial for your consent and approval prior to publication.
We’re happy to help. Send your questions by email to: customerstories@fareverse.com
Questions or complaints? Email us at
customerrelations@financeofamerica.com
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
