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 non-borrowing spouse meeting certain criteria no longer occupies the home as their principal residence (i.e., passes away, moves out, or vacates the property for more than 12 months).
  • 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

(53)

A pleasant experience Larry McAnarney was very professional yet warm in his dealing with both my wife and me. Our experience during the entire process was a pleasant one.

Paul C — Jan 30, 2014

I would recommend Larry to my friends Larry was great, he answered all of my questions and made the process easy. I would recommend him to my friends, I don't often recommend anybody and things.

William M — Sep 25, 2015

True Professional Larry was a true professional and really knows his stuff. He helped me with a financial problem and I now can breathe much easier knowing I can stay in my home.

Dolores R — Feb 3, 2015

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This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

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