Many seniors are finding themselves House Rich and Cash Poor. There just doesn't seem to be enough money left over at the end of the month, or they are having to tap into the principle of their retirement funds in order to enjoy a comfortable retirement.
A Reverse Mortgage is a financial tool for seniors that allows them to unlock the equity in their homes. While it is technically a loan against the equity, it has several key differences from a traditional, or forward, mortgage. To find out more about a reverse mortgage click on the following links:
Oregon Reverse Mortgage Article
Oregon Reverse Mortgage Video
Give me a call if you have any questions regarding a reverse mortgage. I can be reached at 503-421-0096.
Larry Morris is a Certified Mortgage Planning Specialist with American Nationwide Mortgage Company in Newberg, Oregon. He specializes in USDA Guaranteed Rural Home Loans, FHA Purchase and Refinance, FHA 203k Rehab loans, Sect 184 Native American loans, Hobby Farm loans and conforming purchase and refinances in the states of Oregon and Washington.
He can be reached at 503-421-0096, or larry@PDX-Mortgage.com.
www.PDX-Mortgage.com
OR License ML-3259
WA License WA-510-LO-51175
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APR rates are subject to change based on lender's normal credit guidelines and market conditions.
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Larry, this is a great tool as long as homeowners know what they are getting into! thanks for the post.