Reverse Mortgage expert Jeff Foody was featured on KOIN’s Wallet Wednesday on July 28th, 2022 to discuss how a reverse mortgage can be used as part of a robust retirement plan.

Reverse Mortgage expert Jeff Foody was featured on KOIN’s Wallet Wednesday on July 28th, 2022 to discuss how a reverse mortgage can be used as part of a robust retirement plan.

When planning for retirement, homeowners may have an option to use their home equity to fund their retirement plans and free up discretionary income. Jeff Foody with Northwest Reverse Mortgage was featured on KOIN’s Wallet Wednesday in July 2022 to discuss ways retirees and retiree hopefuls can use a reverse mortgage as part of a robust retirement plan that can allow for a greater quality of life.

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Happy Valley, OR 97086
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Northwest Reverse Mortgage powered by Amerifund NMLS #347051. Equal Opportunity Mortgage Broker. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Contents not provided by, or approved by FHA, HUD or any other government agency. All potential tax benefits should be verified with a professional licensed tax advisor. NMLS Consumer Access

At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.