Brad Eaton with HomeSmart Realty Group

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Brad Eaton with HomeSmart Realty Group

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This month we are featuring an interview about selling your home as a senior with one of our trusted advisors: Brad Eaton with HomeSmart Realty Group. His team focuses on each client as an individual and works to sell their home according to their desires. We inquired with Brad about the issues seniors face during a home sale as…

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Downsizing: When is the time right?

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Downsizing is different for everyone and is often bittersweet. 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 possibility of some stressful moments.…

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New Changes to The National Housing Act

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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…

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Reverse Mortgage Specialist Jeff Foody discusses new loan options with seniors as young as 60

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When people have a serious health, legal or financial need, they typically seek out a specialist to help them navigate the situation. According to Jeff Foody, President and Owner of Northwest Reverse Mortgage in Clackamas, Oregon, the same logic should apply to reverse mortgages. That’s why Foody founded his company – to assist clients in understanding their…

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Oregon Property Tax Deferral Program Explained

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The Oregon property tax deferral program is available to some seniors and disabled citizens and allows them to defer their Oregon property taxes with interest. One of the downfalls of this program has been that the participants were unable to keep their deferral status if they desired to obtain a reverse mortgage on their property.…

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What are Grandma and Grandpa to do?

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  Grandpa (who just turned 80) calls you up and says he thinks their roof might be leaking and they don’t know what to do. You go over to their house to check it out and find that the roof is indeed leaking and there are a lot of other serious repair issues with the…

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To Move or Not to Move?

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The idea of packing up a lifetime of belongings and trucking them to who knows where can seem down-right unfathomable. It’s the little things that weigh big on your mind: What to do about the door with all the kids’ growth marks on it? Will the new owners cherish the patina that life has brought…

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When the Home is Empty

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When the home is empty: How does the last borrower leaving the home affect the reverse mortgage? Handling the estate of a parent or loved one is often a very emotional and stressful time for everyone involved. With everything else going on, dealing with the reverse mortgage servicer is often not the first thing on…

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Specializing is Key

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When it comes to reverse mortgages, specializing is key to a great transaction. Reverse mortgages are a complicated loan product. To be successful in the reverse mortgage space, it requires an understanding of the entire program, not just the loan product. Understanding the product is relatively easy: you can figure out the calculations, you can…

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Reverse Mortgage Calculators are a Waste of Time

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Have you ever tried to search online for a calculator to try to figure out how much money you could get with a reverse mortgage? How much time would you say you spent just on the search for one to try? How long did it take to get through their question forms only to learn…

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Licensing

© 2019 Northwest Reverse Mortgage, LLC NMLS #1834787

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Contact Us

Northwest Reverse Mortgage
10121 SE Sunnyside Rd
Ste 300
Clackamas, OR 97015

Number:
(503) 427-1667

Hours:
MON-FRI 8AM - 5PM

Northwest Reverse Mortgage, LLC. NMLS 183-4787. Equal Housing Lender. 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.