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FAReverse LLC i/l/t/n Finance of America Reverse LLC is Licensed Mortgage Banker in the State of New York, but this site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.
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Looking to Retire and Crushed by Student Loan Debt

Student loan debt is crushing one segment of the population, but it might not be the one you expect. Those over 60 years old owe $86 billion in student loan debt at last count. That means those looking to retire face another significant challenge. How Retirees Amassed Student Loan Debt...

Get Tips to Inspire Your Active Retirement

The definition of retirement today is much different than the slow-paced retirement from twenty years ago. Even if your life revolved around your career it’s never too late to start living your best life. The transition from going to work every day to the open schedule of retirement can be...

Create a Realistic Retirement Plan with FAR’s HomeSafe Financial Tools

Are you concerned about running out of money in retirement? You’re not alone. According to the 2017 Retirement Confidence Survey, 21% of retirees said they had less than $1,000 saved for retirement, and 38% said they had less than $50,000 saved. Also, most businesses no longer offer pensions, so retirees...

How a HECM Can Help Retirement Shortfalls and Protect Investments

Reaching a financially secure retirement in today’s economy can be challenging. Many people imagined they could rely on their 401(K) savings and their investment portfolio to finance retirement long enough to delay claiming Social Security and maximize benefits. Unfortunately, this financial plan is not panning out for many retirees. Funding...

How a HECM May Help Retirement Shortfalls

Reaching a financially secure retirement in today’s economy can be challenging. Many couples imagined they could rely on their 401(K) savings and along with a spouse’s retirement portfolio, they hoped to be able to delay claiming Social Security until they can could maximize benefits. According to the Motley Fool’s columnist...

READY TO RETIRE?

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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