The loan is repaid when the last borrower moves out, sells the home, or passes away. This typically happens through the sale of the home.
How is a reverse mortgage paid back?
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This licensee is performing acts for which a real estate license is required. C2 Financial Corporation is licensed by the Colorado Division of Real Estate; California Department of Financial Protection and Innovation, California Finance Lenders Law License # 603L442; Hawaii Department of Financial Institutions, Broker# HI-135622; Idaho Department of Finance, Broker license # MBL-9475; Kansas Office of the State Bank Commissioner; New Mexico Financial Institutions Division; Ohio Division of Financial Institutions, License # RM.804919.000; Oregon Division of Finance, DFR# ML-4917; Pennsylvania Department of Banking and Securities, license # 104755; Tennessee Department of Financial Institutions; Texas Department of Savings and Mortgage Lending; NMLS# 135622. Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional and all conditions must be met by borrower. Loan is only approved when lender has issued approval in writing and is subject to the Lender conditions. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. The services referred to herein are not available to persons located outside the states of CO, CA, HI, ID, KS, NM, OH, OR, PA, TN, and TX.
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