Oregon Reverse Mortgage News

Use a Reverse Mortgage to Purchase a Home

larrym — Sun, 16 Nov 2008 01:22:34 +0000

As of 1/1/2009, seniors age 62 and older can use a federally insured Reverse Mortgage to purchase a home. Under the same HECM program that is being used by many seniors to access the cash equity in their home, seniors now have another tool to use when they look at purchasing a new home.

New Reverse Mortgage Loan Limits for Oregon

larrym — Wed, 22 Oct 2008 05:18:16 +0000

FHA HECM Reverse Mortgage loan limits have been increased to $417,000 for all counites. This will allow more Seniors to benefit from a Reverse Mortgage.

Can You Afford to Retire… or Stay Retired?

larrym — Thu, 14 Aug 2008 15:39:22 +0000

Those who plan to stay in their current home for many years, and who qualify for a Reverse Mortgage, could find that a wonderful solution is to trade their current equity for a more relaxing retirement. They need to speak with an expert who will put their long term best interests at heart. A properly structured Reverse Mortgage can provide access to he equity and well as protect it. A poorly structured one will deplete the equity quickly and leave the senior with few options in the future. For those who need to aggressively pay down their debt, or get better advice on retirement planning, a company like Financial Destinations, Inc (FDI) is a good alternative. FDI can provide a blueprint for paying debt off in a fraction of the time as well as access to CPA's, Financial Planners, Atty's, 24/7 access to a Physician, discounted prescriptions and an excellent investment product. For more information, visit www.MorriEquityGroup.com or call me.

Walk Yourself to a Longer Life.

larrym — Sun, 20 Jul 2008 06:03:59 +0000

What does walkscore.com have to do with a Reverse Mortgage? Nothing, and everything. A Reverse Mortgage can help you financially stay in your home, or move to a neighborhood that is more walkable, while walking can help you physically stay in your home.

Reverse Mortgage Solutions - Jack and Betty

larrym — Tue, 17 Jun 2008 01:32:01 +0000

While Jack and Betty didn't "need" a Reverse Mortgage, they have found that it has allowed them to do some things that need to be done without selling their home or making drastic cuts to their living. It also is giving them the peace of mind in knowing that they have unlocked the equity in their home should they need it.

Seniors Feeling Squeezed by the Economy

larrym — Tue, 10 Jun 2008 04:32:31 +0000

Negative - 26% of seniors age 50-64 and 19% age 65 and older have prematurely withdrawn funds from the retirement accounts throwing off their strutured plans. Positive - For those who have owned their homes for more then 5 years, and didn't pull the equity out, there has been an incredible increase in equity. Solution - A properly structured Reverse Mortgage can unlock the equity and provide a variety of solutions to today's economic woes.

Oregon Property Tax Deferral for Senior Citizens

larrym — Mon, 02 Jun 2008 07:24:21 +0000

If you are an Oregon Senior Citizen and are having problems making your county property tax payment, the State of Oregon Property Tax Deferral Program may be the solution for you. If you qualify, you can defer your taxes until a later date. To qualify: An individual must be age 62 years or older on or before April [...]

What is a Reverse Mortgage

larrym — Sat, 31 May 2008 18:25:51 +0000

Many seniors are finding themselves House Rich and Cash Short. A Reverse Mortgage is a financial tool for seniors that allows them to unlock the equity in their homes. While it is technically a loan against the equity, it has several key differences from a traditional, or forward, mortgage.

Welcome

larrym — Fri, 23 May 2008 20:30:26 +0000

Hello from the beautiful, albeight grey and rainy Pacific Northwest. Just another day in paradise… I keep telling myself that grey + wet = green + flowers. The intent of this blog is to bring relevant news and education regarding Reverse Mortgages and how they apply to those who are eligible for them. This will include [...]