Finance of America Reverse Expands Its Popular ‘HomeSafe®’ Product Offering
Introduction of ‘HomeSafe Select’ Bolsters Roster of Proprietary Reverse Mortgages Currently in Hawaii, Texas and Colorado San Diego, CA – January 30, 2020 – Finance of America Reverse LLC (“FAR”), one of the largest reverse mortgage lenders in the U.S. and a leading provider of retirement solutions, today announced...
Introducing The Venice Sessions
Our President, Kristen Sieffert, introduces The Venice Sessions - unscripted interviews with HomeSafe borrowers and how they are living life on purpose. We gathered eight customers at a studio in Venice, CA to hear about how they approach this season of life in terms of outlook, lifestyle, and finances. These borrowers...
Can I get a line of credit without having monthly payments?
The short answer is Yes. Using the HomeSafe® Select, a proprietary refinancing tool from Finance of America Reverse LLC (FAR), borrowers are able to secure a line of credit without the burden of monthly mortgage payments. People who are considering a home equity line of credit (HELOC) will find...
HomeSafe Tools Create Personalized Retirement Financing Plans
Everyone has different goals and financial situations when they reach retirement. You may have been waiting your whole career to travel, you may want to start a small business, or renovate to make your house perfect for your golden years. Whatever your retirement goals entail, you need a solid financial...
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.
Questions or complaints? Email us at customerrelations@financeofamerica.com
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