Reverse Mortgage Loan Summary (Page 3 of 3) in pdf

Reverse Mortgage Loan Summary Page 3

Repayment Options

[Description of repayment options]

Risks

[Statement about security interest in the consumer’s dwelling]

[Description of ways the borrower may default on the loan]



[Statements about possible action by creditor]

Foreclose On Your Home



[Statements about possible actions by creditor]

Stop Giving You Money



[Statements about possible actions by creditor]

Terminate Your Loan

[Statements that other changes can be made to the loan]



[Statement that the consumer has no obligation to accept the terms disclosed in the table] [Identification of

any disclosed term that is subject to change prior to opening the plan, or a statement that all terms disclosed

could change before the plan is opened, as applicable]



[Statement that the consumer may be entitled to refund of all fees paid if the consumer decides not to open

the plan] [Cross reference to the “Fees” section in the table]



[Statement about asking questions]



[Statement about Board’s website]

[if the creditor has a provision for the consumer’s signature, a statement that a signature by the consumer

only confirms receipt of the disclosure statement]

[

Borrower’s Signature

Date]

Reverse Mortgage Loan Summary Page 3