• When is my loan due?

    Reverse Relief is unique in that our loan has a maturity term of 5 years, with the principal balance and all accrued interest/servicing fees due that that time. As with all reverse mortgages, the loan also becomes due upon death of the borrower. There are several other potential maturity events such as sale of the […]

  • Do you offer any other loan programs except a lump sum loan?

    The Reverse Relief program is only offered as a lump sum, fixed rate loan. Mortgage Interest and monthly servicing fee. We do not offer an equity line program or monthly tenure payments.

  • What can funds be used for?

    The funds from a Reverse Relief loan can be used by the borrower for any purpose they deem necessary. Home improvement, debt consolidation, living expenses, medical bills, family assistance, or payoff of a traditional forward mortgage relief are typical uses.

  • Is property condition considered for the loan?

    Property condition will be factored into the value of the home, but HCS Equity is not governed by the same strict guidelines that traditional reverse mortgages must follow. Items such as peeling paint, leaky roofs, broken windows, missing flooring, empty pools, debris around the property, red tags on title, and other items that normally cause […]

  • Is an appraisal or termite report required for Reverse Relief?

    In most cases an appraisal and termite report will NOT be required, which saves time and expense. A requirement for either inspection will be determined by HCS Equity underwriting upon application.

  • Is reverse mortgage counseling required?

    Yes, a HUD-Approved reverse mortgage counseling session is required to be completed 8 days before HCS can process the loan. A typical session will last less than 30 minutes and can be completed via phone or in-person. You will receive a list of providers to choose from, and the estimated $125 cost is paid via […]

  • Is there any sort of prepayment penalty on the Reverse Relief program?

    Absolutely not, the Reverse Relief loan can be paid off at any time before the due date. There is never any sort of prepayment penalty or minimum months of interest due. You may also pay down any amount you like towards the principal, but there is no option to draw those funds back out.

  • What makes Reverse Relief different than from a typical reverse mortgage?

    Reverse Relief is a private reverse mortgage that is not provided by the Federal Housing Administration or a Wall Street bank. Capital for this loan program comes from private sources, which eliminates much of the red tape and delays that are typically found on traditional reverse mortgage programs. These private funds allow HCS Equity the […]