The state alleges that Hometap’s flagship home equity investment (HEI) product is an “illegal, deceptive, oppressive and unconscionable mortgage that violates the criminal usury statute.”
State Attorney General Andrea Joy Campbell sued Hometap in February 2025, labeling the company’s primary product offerings as “illegal reverse mortgages that fail to comply with state consumer protection laws.”
Longbridge Financial has officially launched a home equity line of credit (HELOC) that’s designed for homeowners aged 62 and older, offering approval and funding in as little as five business days.
Unlike NAF’s multimillion-dollar forward mortgage campaign, “Hell Yeah You’re Buying a Home,” which was announced last month, the reverse-centric “Old Wives” campaign isn’t something you’ll find on major TV networks or streaming platforms.
According to Clear Capital and CAPE Analytics, the product covers 98% of U.S. residential properties and serves as an alternative to traditional inspections.