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

(83)

Professional and Knowledgeable Professional and Knowledgeable I am so glad you help me with my reverse mortgage. I could not have had a more professional and knowledgeable person to go over the details and answer my questions and concerns. I appreciate it very much. Thanks again

Dave R — Sep 28, 2018

Thanks Again Larry treated me very well and helped me go thru the indepth process!!! Thanks again

W Hammond — Sep 7, 2015

Easy Process and Friendly Service Larry was great to work with. He guided me through the process and was very specific about the information I needed to provide so that I was prepared each time we met. He came to my home for all of our meetings and that was very convenient for me. Larry was aware that I needed to get my loan closed as soon as possible and he made sure the underwriters were aware of that. When it was time for me to close, I asked Larry to be there since I trusted him and wanted his support. He was there as promised. Closing was easy and straighforward and everything went the way I expected. I am very pleased with Larry and would recommend them highly.

Rhonda T — Oct 19, 2015