Items Tagged with 'FINANCE OF AMERICA REVERSE'

ARTICLES

  • Finance of America Reverse eliminates key feature on proprietary reverse mortgage HELOC

    Borrowers can still get a line of credit, but it no longer grows
    Just two months after unveiling its HomeSafe Select – the only reverse mortgage HELOC on the market – Finance of America Reverse has eliminated a key feature of the loan. Despite boasting of the 5% growth rate on the Select's line of credit that could aid borrowers in "growing their available funds for future needs," the lender withdrew this option, disappointing borrowers who were just about to close.
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  • More borrowers turn to proprietary reverse mortgages

    Lenders report growing interest in non-agency reverses
    For years, 95% of the reverse mortgage market has been dominated by the FHA's HECM offering. But it looks like that's about to change. Now, borrowers can take a reverse mortgage on a higher priced home and choose from a selection of products with a number of interesting features offered by five different lenders, and lenders say consumer interest is strong.
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