Reverse Mortgage Videos

View the reverse mortgage videos below to help you get an idea of how the reverse mortgage works for a refinance or a purchase. The videos will expel common myths surrounding the program and hope to enlighten you about the opportunity this loan can bring.

Meet the Northwest Reverse Mortgage Team!

Jeff Foody, President and Owner of Northwest Reverse Mortgage discusses using a reverse mortgage to purchase a home on Oregon’s Fox12 AM Northwest on Dec 6th, 2021.

Learn how one homebuyer used a reverse mortgage to gain a competitive edge with her offer in the current hot housing market.

Providing a unique service to our clients

The team at Northwest Reverse Mortgage provides options for homeowners aged 60+ by educating about stretching retirement savings through accessing home equity to eliminate monthly mortgage payments with a reverse mortgage. Learn how our specialty reverse mortgage brokerage can help you access your maximum benefit through the many different reverse mortgage programs available. This is not a one size fits all loan- we have options for many different situations; call us today and share your plans with us. We may have just what you need.

Stretching Retirement Savings

A reverse mortgage is a loan available to homeowners aged 55+ to purchase or refinance a primary residence with no monthly mortgage payments. With a refinance, the reverse mortgage pays off any current mortgage they may have, freeing up the cash they had needed previously to make their monthly mortgage payment and allowing for more discretionary income. If the homeowner qualifies for more cash than the balance of their current mortgage or does not have a mortgage on their home, the funds can be paid to them as cash, a line of credit or monthly payments, it is their choice how to take their funds. The funds can be used for anything they may want or need, such as home improvements, unexpected medical costs, and in-home care. The amount a person may qualify for is determined by their age, the value of the home and the current interest rates. Because the loan does not require monthly mortgage payments, it allows the homeowner the flexibility to retain ownership of their home while they utilize the equity to fund their retirement. HECM reverse mortgages are the most common type of reverse mortgage and are available to people aged 62+. All HECM’s are Reverse Mortgages but not all Reverse Mortgages are HECM’s; some reverse mortgages are jumbo and proprietary loans available from specific lenders and are not FHA loans. We have access to every HECM and Proprietary program available and as your local broker, it is our fiduciary responsibility to guide you to the optimal solution for your specific goals.

Jeff Foody NMLS 253303 discusses the changing landscape of the reverse mortgage program on AM Extra

Jeff Foody, NMLS 253303, President and Owner of Northwest Reverse Mortgage discusses reverse mortgages on KOIN’s AM Extra on Dec 30th, 2020

Local Reverse Mortgage Experts make the Difference

When we met Tom and Susan, they were at the end of their rope with another reverse mortgage company out of state. They shared with us that they had been working on a loan with the other company for over 100 days with no end in sight. The other company was unfamiliar with the nuances of property ownership in Oregon and had hit a roadblock on their end. We were so thankful to have been given the opportunity to assist with this loan. Considering we are Oregon’s leading reverse mortgage brokerage, we are very experienced with many different situations. We had no issues closing a loan for these two lovely people and were happy to have them signing closing documents within 2 weeks of their first phone call with us!

Reverse Mortgage for Purchase- Let's Sell This House!

If you are aged 55+ and considering a home purchase, a reverse mortgage purchase loan can be used to purchase that next home, but there will never be any mandatory monthly mortgage payments due- giving you the freedom to expand your horizons. A reverse mortgage for purchase can be used on many different types of homes, including condos and some manufactured homes on land. The reverse mortgage purchase loan can double your buying power or allow you to spend half as much, giving you options that may have been unavailable with many traditional loans. There are many loan options to consider with a reverse mortgage purchase loan, and Northwest Reverse Mortgage has access to every FHA HECM, Jumbo and proprietary program available. We can guide you to the optimal loan program for your next home purchase in Oregon, Washington, Idaho or California, all with no monthly mortgage payments due! In this video, these retirees are fed up with their loud neighborhood and prefer somewhere more relaxed.

Reverse Mortgage Refinance Early Inheritance

With a reverse mortgage refinance, the equity in your home is converted into cash or a line of credit to access whenever you want or need. The cash you receive from a reverse mortgage refinance is yours to do whatever you like with, and no monthly mortgage payments are due on what is borrowed! This gives homeowners aged 55+ the opportunity to cash in on their equity, without the constraints of any mandatory monthly mortgage obligations. A reverse mortgage refinance may be a great option; a reverse mortgage expert at Northwest Reverse Mortgage can help you decide.

Purchasing a Home with a Reverse Mortgage

Home Equity Conversion Mortgage (HECM) for Purchase (H4P) is a reverse mortgage that allows seniors aged 62 or older, to buy a new principal home using loan proceeds from a reverse mortgage. The HECM for Purchase Program provides the opportunity to purchase a new principal residence with HECM loan proceeds in a single transaction. The HECM loan does not require mortgage loan repayment until the borrower permanently leaves the home.

A reverse mortgage is a complex financial tool. When deliberating whether it’s a good fit, guidance is best left to the experts with the most experience. NWRM has a responsibility to ensure this program is a great fit for each client. We take the time to provide informed and reassuring guidance to ensure this step is taken in a professional and friendly manner, and that you enjoy an outstanding lending experience.

With an H4P loan, people can take out a reverse mortgage and buy a new home in the same transaction. Usually, Homebuyers have a large cash down payment that is about 40-50% of the new home's purchase price. They then use the reverse mortgage loan to borrow 50 to 60% against the home equity of the new property to complete the purchase of their new home. The homeowners are not required to make any monthly mortgage payments as long as they reside in the home and are expected to maintain the home and cover homeowners’ insurance.

HECM Reverse Mortgages Explained

A Home Equity Conversion Mortgage (HECM) is an FHA reverse mortgage loan available to homeowners aged 62+ that requires no monthly mortgage payments. The HECM pays off any current mortgage they may have, freeing up the cash they had needed previously to make their monthly mortgage payment and allowing for more discretionary income. If the homeowner qualifies for more cash than the balance of their current mortgage or does not have a mortgage on their home, the funds can be paid to them as cash, a line of credit or monthly payments, it is their choice how to take their funds. The amount a person may qualify for is determined by their age, the value of the home and the current interest rates. The funds can be used for anything they may want or need, such as home improvements, unexpected medical costs, and in-home care. Because the loan does not require monthly mortgage payments, it allows the homeowner the flexibility to retain ownership of their home while they utilize the equity to fund their retirement. HECM reverse mortgages are the most common type of reverse mortgage. All HECM’s are Reverse Mortgages but not all Reverse Mortgages are HECM’s; some reverse mortgages are proprietary loans available through specific lenders and are not FHA loans. HECM reverse mortgages were created to give homeowners aged 62+ access to funds to stretch their retirement savings and provide additional financial security. Ultimately, the goal of the reverse mortgage program is to allow seniors to maintain their homeownership and live a more quality life.

Using Home Equity as Cash in Retirement

Whether your goal is to refinance your current residence or purchase a new home, if you are aged 62+, that refinance or purchase can be done with an FHA HECM reverse mortgage. Oregon's local reverse mortgage broker, Northwest Reverse Mortgage can guide you to the optimal solution to your retirement funding. Use your home equity as financial security to sustain your lifestyle through retirement. We even have reverse mortgage programs available for people as young as 55!

The Truth About Reverse Mortgages

Wonder no longer! Watch my interview discussing THE TRUTH about reverse mortgages from the THINK BIGGER podcast. THINK BIGGER for yourself and your family by using a reverse mortgage to live a more secure retirement.

Eye on the Northwest with Natalie Marmion and Jeff Foody from Northwest Reverse Mortgage

Interview with Jeff Foody, President and Owner of Northwest Reverse Mortgage discussing reverse mortgage changes and updates

Eye on the Northwest With Natali Marmion and Jeff Foody

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

Northwest Reverse Mortgage: Are you 62 or older?

Commercial for Northwest Reverse Mortgage

Northwest Reverse Mortgage: Your Guide to a More Secure Future

Commercial for Northwest Reverse Mortgage

Selling a Home with a Reverse Mortgage on it.

Reverse Mortgage Client Testimonial- Rosemary


Our client Rosemary explains why she considered a reverse mortgage in Portland, Oregon and what it has done for her lifestyle since. Getting a reverse mortgage refinance in Oregon alleviated her pressures and allowed for her to rest and relax after a major surgery. Working with the local experts Northwest Reverse Mortgage allowed her to maximize her benefit. She was very happy with our service and we are so blessed to get to call her one of our favorite clients!

Reverse Mortgage Client Testimonial- Jerry


Our client Jerry explains how he selected Northwest Reverse Mortgage to be his broker and how the reverse mortgage process went.

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Licensing

© 2019 Northwest Reverse Mortgage, LLC NMLS #1834787
Idaho Branch #2123574

Licensed in Oregon, Washington, California and Idaho

Number:
Office: (800) 806-1472
Toll Free: (800) 806-1472
Fax: (541) 253-4370

Washington Local Contact:
(253) 237-1996

California Local Contact:
(650) 844-6655

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Contact Us

Northwest Reverse Mortgage
10121 SE Sunnyside Rd
Ste 300
Clackamas, OR 97015
Phone: (503) 427-1667

Idaho Branch
950 W Bannock St
Suite 1100
Boise, ID 83702
Phone: (208) 635-0806

Hours:
MON-FRI 8AM - 5PM

Northwest Reverse Mortgage, LLC. ML- 5797/ CL-1834787/ DFPI# 60DBO-140333. Equal Opportunity Mortgage Broker licensed in Oregon, Washington, Idaho and California. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. 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.