When will the principal and interest charges become due?

The loan must be paid in full when one of the following occurs:

  •  A “maturity event” — the loan becomes due and payable when the home is sold, or the borrower or qualified non-borrowing spouse no longer occupies the home as their principal residence (i.e., passes away, moves out, or vacates the property for more than 12 months) due to mental or physical illness.
  •  You fail to pay property taxes or homeowners insurance.
  •  You let the property deteriorate beyond what is considered reasonable wear and tear, and do not correct the problem.

 

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Larry is Very Professional Larry is very Professional, Knowledgeable and highly organized. He handled the entire process to our complete satisfaction. We would definitely recommend him to our family and friends.    

Mike & Marie H — Dec 23, 2019

My Experience Has Been Wonderful My experience with my Reverse Mortgage representative Larry McAnarney has been wonderful. Larry has been very professional & sensitive to my needs. He was completely truthful & informative with me. I will recommend Larry anytime to anyone asking me about a Reverse Mortgage. Your company is lucky & very blessed to have Larry represent you.  

Sam H — Nov 13, 2019

Larry was Very Helpful and Understanding Larry was very helpful throughout the whole thing. He made understanding the terms simple.      

Paul L — Jan 11, 2024

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