Press Room


Game-changing new product combines aspects of traditional and reverse mortgages to deliver greater optionality for homeowners at or near retirement

EquityAvail creates improved cash flow by lowering monthly mortgage payments for ten years before eliminating them altogether

San Diego, CA – March 10, 2020 – Leading retirement solutions innovator Finance of America Reverse LLC (“FAR”) today announced the upcoming April launch of EquityAvail, a ground-breaking new mortgage product designed to provide greater financial flexibility for homeowners at or near retirement. The first-of-its-kind product will combine elements of a forward mortgage with a reverse mortgage to improve cash flow and help retirees accomplish their retirement goals.

EquityAvail helps solve for the financial challenges many Americans over the age of 60 face in reducing expenses as they prepare to exit the workforce, unlocking the liquidity needed to age in place and enjoy their retirement years. The hybrid product allows qualifying homeowners to refinance their traditional mortgages and reduce their required monthly payments for 10 years. After that, the borrower is no longer required to make the monthly payments. While taxes and insurance must always be paid, this reduced monthly obligation and required payment period gives homeowners more financial stability and better prepares them to handle unexpected expenses.

In creating EquityAvail, FAR has invented a way to address one of the most critical problems facing elder generations in America. For many, the pathway to achieving financial security in retirement has become increasingly challenging. They are living longer, often have cash flow shortfalls and carry significant debt – including a traditional home mortgage. In fact, over the last three decades, the number of people over the age of 60 burdened by traditional mortgage debt has doubled to more than 40%1.

With historically low interest rates, some homeowners will end up exploring a mortgage refinance in an effort to reduce monthly payments and find liquidity in their home equity. However, a traditional refi can burden borrowers over 60 with 30 more years of mortgage payments. What’s more, many retirees whose incomes are decreasing will not qualify for a traditional refinance due to high debt-to-income ratios. Even if they do qualify, unexpected income loss could create economic upheaval, forcing them to sell their homes.

“Every year, more than a million homeowners over the age of 60 enter into a 30-year mortgage obligation, yet current qualification standards only require lenders to ensure borrowers can afford mortgage payments for about three years. After that, they’re on their own. Then, there’s another million or so individuals of the same age who are denied a 30-year mortgage altogether due to insufficient cash flow. The result is more than two million homeowners who, if given the opportunity, would have likely explored a more suitable loan alternative at this stage in life. Our commitment to help these people is what led FAR to create a solution from the ground up that can unlock a whole new world of options,” said Kristen Sieffert, President of FAR.

EquityAvail is a single, fixed-rate mortgage. The loan is fully disbursed at closing with a maximum loan amount of up to $4 million. Like traditional forward mortgages, a tax and insurance escrow account is used for ease of budgeting and administration. When the homeowner dies, sells the house, or it ceases to serve as their primary residence, the remaining loan balance is paid back. Importantly, the homeowner or heirs will never owe more than the value of the home, as it is a non-recourse loan. Additionally, EquityAvail has no origination fees or monthly servicing fees, and there is no minimum home value requirement to qualify.

Patti Cook, CEO of Finance of America, added: “EquityAvail is the latest example of our proven ability to innovate and create products that meet the evolving needs of our customers. It is the proprietary insights gleaned from our powerful data platform that enable us to identify gaps in the market, providing us with a sustainable competitive advantage. In this case, we noticed a need that wasn’t being met by either a traditional or reverse mortgage product and leveraged our decades of expertise within both sectors to create a solution that will make a real difference. Solving problems is what we do best, and we look forward to continuing to introduce new innovations across our platform.”

About Finance of America Reverse LLC (FAR)

As a retirement solutions company, Finance of America Reverse is committed to empowering people with the tools they need to achieve financial independence and get to work on retirement. Through its team of Licensed Loan Officers and network of professional and wholesale partners, Finance of America Reverse offers products and services designed to help older Americans include home equity in their retirement plans. The company is licensed nationally and is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). For more information, please visit or find us on Facebook, LinkedIn or Twitter.

©2021 Finance of America Reverse LLC is licensed nationwide | Equal Housing Opportunity | NMLS ID # 2285 ( | 8023 East 63rd Place, Suite 700 | Tulsa, OK 74133

About Finance of America Companies

Finance of America is a diversified, vertically integrated consumer lending platform. Product offerings include mortgages, reverse mortgages, and loans to residential real estate investors distributed across retail, third party network, and digital channels. In addition, Finance of America offers complementary lending services to enhance the customer experience, as well as capital markets and portfolio management capabilities to optimize distribution to investors. The company is headquartered in Irving, TX, and is a portfolio company of the leading global asset manager, The Blackstone Group. On October 13, 2020, FAR’s parent, Finance of America Equity Capital

LLC, entered into a business combination agreement with Replay Acquisition Corp. (NYSE: RPLA). Upon the closing of the transaction, the combined company intends to change its name to Finance of America Companies Inc. and trade on the NYSE under the ticker symbol “FOA.”


For FAR Public Relations:  FAR@SLOANEPR.COM

For Finance of America Investor Relations: IR@FINANCEOFAMERICA.COM 

For Finance of America Media: PR@FINANCEOFAMERICA.COM 

For Replay Acquisition Corp.: INFO@REPLAYACQUISITION.COM 

1Airgood-Obrycki, Whitney et al. “Housing America’s Older Adults” (2018). Joint Center for Housing Studies of Harvard University