Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Finance of America Reverse Adds HomeSafe® Select Offering in Florida

Posted by fidest press agency su giovedì, 18 luglio 2019

Finance of America Reverse LLC (“FAR”), one of the largest reverse mortgage originators in the US and a leading provider of retirement loan products, today announced the launch of its HomeSafe® Select offering in Florida, the only proprietary reverse mortgage product in the US offering a line of credit. This latest launch rounds out availability of FAR’s full proprietary suite of products in Florida, joining the fixed-rate HomeSafe® Standard and breakthrough HomeSafe® Second. Florida ranks among the top five states utilizing the innovative HomeSafe® solution, and the demand for HomeSafe® Select has been building in anticipation of this launch.HomeSafe® Select is a proprietary HELOC reverse mortgage loan offered exclusively by FAR and its approved partners. It is a non-FHA adjustable rate reverse mortgage that offers up to 75% of loan proceeds as an open-ended line of credit. Like all reverse mortgages, HomeSafe® Select is a non-recourse loan.“As people evaluate how home equity fits into their retirement plans, they are increasingly choosing to only draw the funds they need initially and access the remainder through a line of credit. Doing so allows homeowners to protect their equity longer so that they have more options well into the future as their needs change. We are proud to remain at the forefront of the industry as the only provider of this type of proprietary financial tool, which represents a tremendous opportunity for suitable borrowers,” said Kristen Sieffert, president of FAR.The HomeSafe® Select is the only proprietary reverse mortgage product in the US that offers a line of credit allowing the borrower the option to tap into and leverage part of their home equity while at the same time creating the flexibility to access additional funds as needed.

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