Finance of America Enhances Popular Reverse Home Equity Product, HomeSafe Second Gives More Homeowners 55+ a Flexible Alternative to Finance Retirement
Finance of America Companies Inc. Class A (FOA)
Company Research
Source: Business Wire
No-Payment Reverse Second-Lien Loan Now Features Lower Interest Rate, Availability in Additional Markets PLANO, Texas--(BUSINESS WIRE)--Finance of America Reverse LLC (“Finance of America” or the “Company”), a leading provider of home equity-based financing solutions for a modern retirement, today announced it has lowered the interest rate for its proprietary reverse HomeSafe Second loan from 9.99% to 9.49%, and broadened its availability in four additional states: Arizona, Nevada, Oregon, and Utah.HomeSafe Second is a second-lien loan exclusively offered by Finance of America, and specifically designed for 55+ homeowners seeking a better and more flexible way to tap their home’s growing equity. It allows homeowners to borrow against their home but leave their primary mortgage intact maintaining any favorable rate secured in years past.Demand for home equity tools is on the rise, notably for older homeowners. The mortgage industry overall has seen home equity lending grow quarter o
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- 11/6/24 - Beat
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- 11/12/24 - Form 4
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