Downsizing with a Reverse Mortgage
Downsizing with Confidence: How Reverse Mortgages Can Simplify Your Move Downsizing can be a transformative experience, offering an opportunity to take control of your future, redefine your priorities, and embrace a simpler lifestyle. Many individuals plan to downsize as a way to enjoy the fruits of their hard work through the sale of assets and…
Read MoreProviding Relief for Financially Insecure Seniors through Reverse Mortgages
The current global situation has taken us all by surprise, leaving many unprepared to cope with its challenges. As we continue to weather this pandemic, weeks of sheltering in place have highlighted shortages in essential supplies, including food and medications. Among the most vulnerable groups during this outbreak are seniors who are financially insecure, and…
Read MoreExploring Reverse Mortgage Changes: Enhancing Retirement Security for Baby Boomers
As an experienced mortgage broker with over two decades in the field, Jeff Foody is committed to educating individuals about the myriad of benefits of reverse mortgages. These reverse mortgage changes have brought about additional advantages for those who opt for reverse mortgages. Since August 2014, couples selecting reverse mortgages are no longer required to be…
Read MoreEmpowering Baby Boomers: Unlocking Housing Solutions through Reverse Mortgages
Oregon’s housing crisis is a pressing concern, and the influential role of baby boomers is undeniable. The state currently faces an alarming shortage of nearly 6 million homes, a complex issue fueled by a convergence of factors creating a challenging environment for home inventory. These factors encompass: The weight of student debt can hinder qualification…
Read MoreExploring the Insights of Selling Your Home as a Senior with Brad Eaton
Brad Eaton from HomeSmart Realty Group is one of our trusted Oregon real estate advisors. Selling your home as a senior can be fraught with worry, but Brad and his team have garnered a reputation for personalized care and tailor-made approaches to selling homes, aligning with clients’ preferences. We sat down with Brad to delve…
Read MoreTrump Calls for Changes to Reverse Mortgages In Oregon
In March of 2019, President Trump issued a Memorandum to reform some aspects of the governments Federal Housing programs, including the FHA insured HECM program. One of the most drastic changes proposed is the removal of the ability to refinance a reverse mortgage. Currently, borrowers who have a reverse mortgage can refinance to access more…
Read MoreDownsizing in Oregon: When is the time right?
Downsizing in Oregon is different for everyone and is often bittersweet. According to NAR, 39% of home buyers in 2019 were seniors: seniors are moving and their goal is often to find a more manageable living situation that will allow them freedom in retirement. With that can come a lot of big decisions and the…
Read MoreNew Changes to The National Housing Act
Historically, it hasn’t been easy to get a condo project FHA approved. FHA has many rules and requirements that many associations are not able to meet. HUD has been under increasing pressure to tweak the requirements to allow more people to achieve the American dream of homeownership. On august 14th 2019, HUD announced new changes in Docket…
Read MoreExperienced Reverse Mortgage Specialist Jeff Foody Empowers Homeowners Aged 55 or Older
In times of critical health, legal, or financial needs, seeking guidance from a specialist is often the best course of action. Jeff Foody, the President and Owner of Northwest Reverse Mortgage in Clackamas, Oregon, believes the same principle applies to reverse mortgages. As an experienced reverse mortgage specialist, Jeff Foody brings over 2 decades of…
Read MoreOregon Property Tax Deferral Program and Reverse Mortgages: New Opportunities for Seniors
The Oregon property tax deferral program offers relief to eligible seniors and disabled citizens by allowing them to delay paying their property taxes, albeit with interest. A notable drawback has been the inability of program participants to retain their deferral status while pursuing a reverse mortgage on their property. However, this obstacle is about to…
Read More
