Interview with Jeff Foody, Owner and Loan Officer at Northwest Reverse Mortgage

Understanding Reverse Mortgages with Jeff Foody

If you’re considering refinancing your home, purchasing a new one, or accessing your home equity, a reverse mortgage might be the right solution for you. In this segment of Eye on the Northwest, Natalie Marmion interviews Jeff Foody, President and Loan Officer at Northwest Reverse Mortgage. With over 17 years of experience serving Oregon’s reverse mortgage needs, Jeff shares valuable insights into the benefits and safety of reverse mortgages.

Key Highlights:

• Safety and Regulation: Reverse mortgages are federally regulated, and updates from the FHA (Federal Housing Administration) continually enhance consumer safety. These changes ensure the program remains accessible and secure for seniors.
• Current Market Conditions: With home values at their peak after eight consecutive years of growth and reverse mortgage interest rates at historical lows, now is an ideal time for borrowers to maximize their financial opportunities.
• How Reverse Mortgages Work: The amount you qualify for depends on three factors: the borrower’s age, the appraised value of the home, and current interest rates. These elements combine to provide seniors with a financial tool for a more secure future.

For more information about reverse mortgages and how they can benefit you, visit NWReverse.com or call Jeff Foody directly.