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When deciding on getting a HELOC in Oregon, you must be aware that there are many different kinds of HELOCs available to choose from. Banks, lenders, and mortgage brokers offer various traditional HELOCs that have their own terms and conditions. The kind of HELOC you choose depends on your goals and your lifestyle. HELOC stands…

Wondering if you meet the qualifications for a reverse mortgage? Thanks to reverse mortgages, many senior homeowners have been able to make home improvements, travel, pay off medical expenses, or supplement their income by tapping into their home equity. Reverse mortgages have become much safer, more accessible, and more popular thanks to the current Federal Housing…

-Written by Robin Rosa MLO #1402813, Reverse Mortgage Specialist Much damage has been done to the U.S. economy in the last two years causing retirees to reconsider how to use home equity. The COVID-19 pandemic coupled with shutdowns and central banks’ efforts to stimulate the economy has left the financial markets and world economies on…

If you are considering getting a reverse mortgage, you may have done some research or even know someone who has one. Getting a reverse mortgage is an excellent way for people 55 years and older to convert their home equity to cash that they can use for additional retirement funds, home improvements, or medical expenses. Reverse mortgages allow the homeowner to…

What does it take to consider yourself a specialist in reverse mortgages? This answer is subjective: there is no definitive answer to this question. Anyone with an MLO license (even if they have never done a reverse mortgage before) can call themselves a reverse mortgage specialist. The client and their support team (friends, professional advisors,…

Understanding How Reverse Mortgages Work You have probably seen commercials and heard your friends discuss reverse mortgages but they sound complicated. We get that so, we have broken down some of the basics around “How Does a Reverse Mortgage Work?” in this article. Reverse mortgages are loans for seniors 55 and older who want to…

You may have heard about reverse mortgages and thought they weren’t suitable for you. You may think they are too confusing or that you probably won’t qualify. However, reverse mortgages offer simple solutions to homeowners 62 and older who want extra funds for paying bills, traveling, or assisting in medical expenses by using the equity…

Reverse mortgages have become popularized by television commercials anchored by celebrities. To some, they may seem too good to be true. But reverse mortgages are not all Hollywood glitz and glamour. They are a way for homeowners, now as young as 55 or older, to convert the equity in their homes into spendable cash. Though…

Paying off a reverse mortgage is inevitable- at some point, the loan will need to be paid back. For adult children or heirs who inherit their parents’ housing assets with FHA (Federal Housing Administration)-insured HECM reverse mortgages, it can feel overwhelming. The impulse is often to find out how to get out of any mortgage…

The history of reverse mortgages in America starts with the HECM (Home Equity Conversion Mortgages) as they are known, which were formally established in the late 1980s by the federal government’s Department of Housing and Urban Development (HUD) after lobbying efforts pushed for seniors to be able to cash in on their home without having…