Finance of America (FOA) said Tuesday that it has expanded its HomeSafe Second reverse mortgage product into Louisiana, Missouri, Rhode Island and Washington, D.C., bringing the product’s availability to a total of 18 states and the District of Columbia.

The expansion comes as more older homeowners seek ways to access home equity without refinancing existing low-rate mortgages or taking on required monthly mortgage payments associated with traditional home equity borrowing.

HomeSafe Second, reintroduced in 2023, is a second-lien reverse mortgage designed for homeowners ages 55 and older, although the minimum age is details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com