Finance of America (FOA) on Thursday introduced HomeSafe Second Line of Credit, a second-lien reverse mortgage line of credit now available in California that lets homeowners 55 and older tap home equity over time without refinancing or taking on a new required monthly mortgage payment.

The product, which became available April 1, is designed to operate alongside a borrower’s existing first mortgage. It targets equity-rich senior homeowners who secured low fixed rates during the COVID-19 pandemic and are reluctant to refinance into a higher-rate loan or add a traditional home equity line of credit (HELOC), according to details ⇒

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