Road to Recovery: Find out if a reverse mortgage is right for you

Heard about reverse mortgages but not sure if they are right for you? If you are a homeowner, age 62 and older, go to Museo de Vida Silvestre in San Juan, from June 25, to July 13, Monday to Friday. Housing experts from HOPE NOW and Finance of America will be available to answer your questions.

The three-week event to help answer questions came into fruition after the HUD Disaster Recovery Fairs that took place with federal, state, local, nonprofit and private partners between February and May. In 20 different locations around the island, services and resources were available for those needing help with their path to recovery.

HOPE NOW and Finance of America witnessed the benefits of the events first hand and were ready to continue. "Our efforts hope to provide the much-needed assistance to the families of Puerto Rico that are still trying to recover. There are many uncertain conditions that need to be recognized and met with a continued and consistent response," said Erik Selk, Executive Director, HOPE NOW Alliance. "The extended outreach model is appropriate to meet the local demands and serve the needs of struggling families. We thank Finance of America for the generous sponsorship and HUD for the continued support."

"We are proud to support the work that Hope Now is doing in Puerto Rico," said Kristen Sieffert, president, Finance of America Reverse. "Our team has seen the benefit of participating in these events firsthand. Our experience with these events has led to an expanded partnership and we're now funding the placement of four Hope Now employees who are solely dedicated to borrower outreach. While we know there is a long road ahead for the island, we firmly believe that Hope Now's model of on-the-ground engagement is making a positive impact."

Learn more about reverse mortgages, also known as Home Equity Conversion Mortgages for Seniors

When: June 25 - July 13, Monday to Friday, 9 am to 5 pm
Where: Museo de Vida Silvestre, 1075 Avenida John Kennedy, San Juan
What to bring: Identification, financial documents including bank statements and tax returns
What to expect: Guidance, resources, referrals

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