Finance of America Reverse Lowers Eligibility Age on Products

Phil Hall

Nov 19, 2019

Finance of America Reverse LLC (FAR), a San Diego-headquartered reverse mortgage lender and provider of retirement solutions, has lowered the eligibility age for borrowers on its HomeSafe Standard, HomeSafe Flex and HomeSafe Second products from 62 to 60.

The company added that the lower age eligibility will not take effect in Texas and Utah, which have retained 62 as the minimum age for borrowers to qualify for such products.

“We are pleased to meet industry demand for this amendment but stress that borrower responsibility is paramount in factoring in whether this new timeline makes sense for their long-term retirement goals,” said Kristen Sieffert, president of FAR.

Link copied

Published

Nov 19, 2019

Analysis and Data

Over One-Third Of Americans Wants A Housing Crash

LendingTree study finds 44% of consumers believe a housing crash is coming in 2024

According to the latest LendingTree survey of over 2,000 U.S. consumers, 44% of Americans think the market is at risk of a housing crash in the next year. And with some non-homeowners believing a crash is the only way they could afford a home, it may not seem surprising that...

Analysis and Data

Housing Payments On A 5-Week Decline

Redfin's study shows monthly mortgage payments dropping $164 from peak.

A five-week decline in mortgage rates has led to a corresponding decline in housing payments, according to a new report from Redfin, the technology-powered real estate brokerage. The typical U.S. homebuyer’s monthly mortgage payment was $2,575 during the four weeks ending No...