Today’s reverse mortgage loans have built-in protections designed to make sure the loan is a sustainable solution for the borrower. In this article, we’ll explore what a life expectancy set-aside (LESA) is, how it helps a borrower to pay property charges, when the lender’s underwriter will require it, and why, in some situations, it may be advantageous for a reverse mortgage borrower to voluntarily opt for a LESA.
Harlan Accola
Harlan has been in the mortgage industry for over 20 years and has worked with all types of loans. His specialty and favorite has always been working amongst the 62-plus age group with over 1,000 Reverse Mortgages which has been the most rewarding part of his career. He is now the Reverse Mortgage Director for Fairway Independent Mortgage Corporation.
Recent posts by Harlan Accola
6 min read
What is a Life Expectancy Set-Aside for a Reverse Mortgage Loan?
By Harlan Accola on 1/5/23 11:16 AM
Topics: Retirement Planning Retirement Reverse Mortgages Limited & Extended Care Planning Center
6 min read
Are you guilty of malpractice in your work?
By Harlan Accola on 8/31/20 4:48 PM
Here are some of the words the dictionary uses to define malpractice: improper, illegal, or negligent professional activity or treatment, especially by a medical practitioner.