Consumer Safeguards

Consumer safeguards are created to ensure we do our job right, and you and your family understand just how a reverse mortgage works.

consumer safeguards

Here are a few consumer safeguards put in place for your benefit:

Counseling

U.S. Department of Housing & Urban Development (HUD) requires ALL reverse mortgage applicants to undergo third party counseling. Efinity encourages this counseling so that you feel completely comfortable with the product, the process, as well as all of your options.

No Prepayment Penalty

You can choose to repay the loan at any time without incurring any additional costs.

Non-Recourse Loan

A non-recourse loan is a loan in which the borrower can never owe more on the loan than what the house is worth at the time the loan is paid back.