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Reverse Relief FAQ

28 items

  • What happens if I am not able to sign for myself?

    HCS has been providing capital to trusts and estates for over 20 years. We are well versed in working with trustees, court appointed conservators, fiduciaries, attorneys, or other family members that maybe involved in this transaction.

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  • Can my property remain in my trust?

    Yes, your property can be in an irrevocable or revocable living trust.

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  • Are my heirs liable for this loan if my loan equals more than my home is worth?

    No, your heirs are not liable for this debt in the event of negative equity.

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  • Is a credit report required?

    A credit report is required to confirm you are not in bankruptcy but we are not focused on having good credit to obtain a Reverse Relief loan.

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  • Do I have to have income documentation or assets to obtain a Reverse Relief?

    No, HCS Equity does require income documentation such as tax returns, paystubs, bank statements or social security income.

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  • Does my property need to be free and clear of debt to obtain a new Reverse Relief mortgage?

    No, you can have an existing mortgage on your property and HCS Equity will retire the existing debt as part of your new reverse mortgage. This is a great way to relieve your monthly debt, plus obtain funds to fix up your home, maintain a comfortable lifestyle, or help out your family.

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  • Do I still have to pay my property taxes and insurance?

    Yes, you are still responsible for paying all property taxes and insurance regarding the subject property. HCS Equity does NOT impound your taxes and insurance, these are still your responsibility to pay on time. If your taxes or insurance are not paid on time, HCS has the right to call the loan due or obtain

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  • Can my rate go up or down during the term of my loan?

    Reverse Relief is a fixed rate loan program. The rate on your loan documents will not change during the term of your loan. Interest accrues and compounds on the outstanding balance based on the fixed rate represented on your loan documents.

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  • Can I lose my house to foreclosure?

    Yes, your home can be lost to foreclosure during the term of the HCS loan or after the maturity date. It is important to read the loan documents and fully understand the terms of the Reverse Relief mortgage.

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  • What happens if I die before the 5 years?

    The estate will have 6 months to pay the loan in full from the date of death.

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(877) 427-9820 ‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
info@hcsequity.com
7412 Cypress Lane Carmel, CA 93923

HCS Equity is a private money lender based in Carmel, California, specialized in loans for trust & estate property. Known for providing quick and low cost capital.

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