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FAR Press Releases
FAR Expands Suite of Educational Resources for Wholesale Partners with Launch of Finance of America University, Enhancements to Xcelerate
San Diego, CA – August 16, 2021 – Leading retirement solutions innovator Finance of America Reverse LLC (FAR) today announced the launch of its tech-enabled learning platform, Finance of America University (FAU) as well as the introduction of an enhanced “Policies and Procedures” (P&P) Documents Center on its popular Xcelerate...
Finance of America Reverse Earns 2021 Great Place to Work Certification™
San Diego, California — Finance of America Reverse (FAR), a leading retirement solutions innovator, is proud to be Certified™ by Great Place to Work® for the first time. The prestigious award is based entirely on what current employees say about their experience working at FAR. This year, 93% of employees...
Finance of America Reverse Hires Former NCOA Marketing Lead to Enhance Consumer Engagement, Focus on Longevity
Naomi Hart Brings Social Enterprise Perspective to FAR, Underscoring Its Focus on Holistic Products & Services that Help People Achieve Better Outcomes in Retirement SAN DIEGO – May 25, 2021 – Retirement solutions company, Finance of America Reverse LLC (FAR), today announced that Ms. Naomi Hart has joined as Senior...
Finance of America Reverse Empowers Homeowners to Reinvent Their Retirement Roadmaps with Game-Changing New Mortgage
EquityAvail TM lowers monthly mortgage payments for ten years, at which time they are eliminated altogether; creates glidepath to retirement. Innovative hybrid product, combines aspects of traditional and reverse mortgages to deliver a ‘new world of options’ for homeowners at or near retirement For many Americans over the age of...
Finance of America Reverse Joins the Stanford Center on Longevity ‘Corporate Affiliate Program’ in Support of Retirement Research
The Program will Fund Projects to Help Retirement Planning, Identify Solutions to Bridge the Funding Gap Facing Many Retirees San Diego, CA – October 15, 2020 – Amid today’s complex and challenging economic conditions, and as part of its ongoing commitment to help people better prepare for and live...
These materials are not from HUD or FHA and were not approved by HUD or a government agency.
©2021 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.
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