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… [Read More]

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… [Read More]

Oregon Property Tax Deferral Program Explained

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Oregon has a property tax deferral program that is available to some seniors and disabled citizens that allows them to defer their 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… [Read More]

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… [Read More]

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… [Read More]

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… [Read More]

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… [Read More]

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… [Read More]

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