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.

 

Verified Reviews

(163)

You Were There for Us My husband and I are so glad we had you help us with our reverse mortgage.  We could not have had a more professional nice person take care of our needs. You helped us above and beyond. You were there for us with all our questions and concerns.  We appreciated it very much.Thanks again Harlan and Jennie  

Harlan & Jennie S — Jun 27, 2016

Larry was Amazing Larry was amazing. He was prompt, efficient, responsive and knowledgeable. The whole process was a breeze. I would highly recommend him and his company to anyone in need of his services.We closed on time with no issues whatsoever.    

Paulette R — Jan 29, 2020

Delight to Work with Larry Larry McAnarney was such a delight to work with. He handled everything with professionalism, but was also very personable, which helped calm a lot of nerves. All my questions were answered satisfactorily, and throughout the process, Larry kept me informed and updated, and he kept to his word at all times. I have a check in the bank and can now do what I had initially needed this reverse mortgage for. I am so glad he was recommended to me, and I now recommend him to anyone who needs assistance with reverse mortgage. .. it's definitely not as scary as we all are made to think! Thank-you Larry... God bless you!!!

Nancy M — Jul 22, 2016

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