CA wildfires

View claims guidance for borrowers affected by CA wildfires.

Back to Previous
1 Min. Read

What happens at the end of a HomeSafe loan?

Published
1 Min. Read
Placeholder

A HomeSafe loan is repaid when the homeowner moves out, doesn’t meet the loan conditions, or passes away. The loan can be settled by selling the house or by using other assets if the borrower or heirs prefer to keep the house. Most importantly, the borrower or heirs won’t owe more than the home’s value.

Related articles

Placeholder
What kind of fees are involved?

Apart from mandatory reverse mortgage counseling costs and FHA insurance (on certain loans only), the fees for a reverse mortgage are generally the same as those for a traditional forward

Read article from What kind of fees are involved?
Placeholder
How am I protected?

The largest misconception around reverse mortgages is that they’re dangerous. The truth is that these products are highly regulated by the US government and come with strict consumer protections that

Read article from How am I protected?
Placeholder
What are the borrower qualifications for a reverse mortgage?

To be eligible for a reverse mortgage, you typically need to be a homeowner 62+. However, Finance of America also has an exclusive range of reverse mortgage options available in

Read article from What are the borrower qualifications for a reverse mortgage?