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(1) at the conclusion of a reverse mortgage, the borrower must repay the loan
and may have to sell the home or repay the loan from other proceeds;
(2) charges will be assessed with the loan, including an origination fee, closing
costs, mortgage insurance premiums and servicing fees;
(3) the loan balance grows over time and interest is charged on the outstanding
(4) the borrower remains responsible for property taxes, hazard insurance and
home maintenance, and failure to pay these amounts may result in the loss of
the home; and
(5) interest on a reverse mortgage is not tax-deductible until the borrower
makes partial or full re-payment.
HighTechLending Inc, NMLS ID #7147 (www.nmlsconsumeraccess.org). 2030 Main Street, Suite #350, Irvine, CA 92614. AZ Mortgage Banker License #0912577; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License #4130937 , CO Mortgage Company Registration - Regulated by the Division of Real Estate; FL Mortgage Lender Servicer License #MLD1409; Georgia Residential Mortgage Licensee, License #53077; HI Mortgage Loan Originator Company License and Service License #HI-7147, Illinois Residential Mortgage Licensee, License #MB.6761112 , MD Mortgage Lender License #21762, NC Mortgage Lender License #L-165611; NJ Residential Mortgage Lender License, NM Mortgage Loan Company, NV Mortgage Broker License #4517, OR Mortgage Lending License #ML-4386 and Servicer License #MS-139; PA Mortgage Lender #49892; SC Mortgage Lender/Servicer License #MLS-7147; TX Mortgage Banker Registration; UT Residential First Mortgage Notification and Mortgage Entity License #8874117, Virginia Broker and Lender Licenses #MC-5962 NMLS ID #7147 (www.nmlsconsumeraccess.org); WA Consumer Loan Company License #CL-7147. NMLS Consumer Access: www.nmlsconsumeraccess.org