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Consumer safeguards

A number of consumer safeguards have been established to
protect reverse mortgage loan borrowers. These protections
ensure lenders like us are doing their jobs right, and that
you and your family have a thorough understanding of how
a reverse mortgage loan works. The following consumer
safeguards were instituted for your benefit:

CALL TODAY to speak with a reverse mortgage professional.

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No Pre-payment Penalty Non-recourse Loan
Although the loan is not due HECMs are non-recourse
and payable until the last loans. Neither you nor your
borrower or eligible non- heirs will ever owe more
borrowing spouse leaves the than the loan balance or
home or does not comply the value of the property,
with the loan terms, you may whichever is less; and your
choose to repay the loan at heir is not obligated to use
any time without incurring assets other than the home
additional costs. to repay the debt.

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HUD Fee Limitations Financial Assessment

HECM loan origination fees HUD now requires a more
are regulated by HUD. Other thorough evaluation of
reverse mortgage costs may borrowers’ abilities to meet
vary among creditors and the financial obligations of
loan types. their reverse mortgage loans.

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