reverse mortgage specialist: Does a North Idaho ranch style home interest you? - 11/23/15 06:13 AM
Does a North Idaho ranch style home interest you?
 
 Purchasing a home with no stairs may be a wise thing to consider if remaining in your own home and living independently is your choice for the next chapter of your life.
If you are near or at retirement age, taking action sooner rather than later will give you more options and more time to enjoy a new home. Call it an adventure instead of a task. Procrastination could put you into a situation where an unfortunate event might force you into an untimely move.  
There are many obvious benefits that come with … (0 comments)

reverse mortgage specialist: Choosing a Reverse Mortgage Specialist Serving the Sacramento area - 06/19/15 04:12 AM
Choosing a Reverse Mortgage Specialist Serving the Sacramento area
 
If you are looking for ways to unlock the equity in your home and re-position those assets for your immediate and future benefit, you need to work with a Reverse Mortgage Specialst.  Someone who is knowledgeable and experienced and who cares enough to put YOU and your family first before the sale.  There are fewer "reverse  mortgage specialists" than you think and the list does not include Robert Wagner, Fred Thomson or the Fonz. 
Internet shopping is a fine place to start since you may not know anyone personally who has a reverse … (0 comments)

reverse mortgage specialist: Oregon Seniors & Reverse Mortgage Changes Coming Soon - 02/04/15 05:58 AM
Oregon Seniors and Reverse Mortgage Changes - coming fast!
 Big changes are looming over the horizon for Oregon's senior homeowners who are considering a reverse mortgage.  Fortunately, Oregonians are not being singled out. The changes apply across the country.
 
My advice:  Get started today.  Call a reverse mortgage specialist and see if it is right for you. Get your concerns addresssed and your questions answered.   Why the urgency?  April 27, 2015 a financial assessment component will be in place for reverse mortgage lending guidelines.  This could mean the difference between eligibility or simply ineligible.
 
It doesn't hurt to look … (0 comments)

reverse mortgage specialist: California Seniors: Reverse Mortgage Changes Coming Fast - 01/23/15 09:16 AM
California Seniors Reverse Mortgage Changes Coming Fast
 
March 2, 2015 is the scheduled date for major changes* to the Reverse Mortgage guidelines. 
Retirees, baby boomers and homeowners who have been delaying getting informed about this special home loan (for which you must be 62 to qualify) would be wise to get started NOW.  Why?  If you move quickly you can have an application completed and an FHA case number assigned to you prior to March 2, 2015 and your application will fall under current guidelines which are less stringent.

* (If you are interested in the details, the HUD Mortgagee letters (ML 2014-21 and … (1 comments)

reverse mortgage specialist: Reverse Mortgages for Washington's Seniors - 01/09/15 05:55 AM
 Reverse Mortgages for Washington's Seniors  
Washington State senior homeowners find information regarding Reverse Mortgages easily on the internet but learning about your situation (or on behalf of a friend or loved one) from a knowledgeable professional is probably what you are really looking for. A Reverse Mortgage Specialist will know about guideline changes that occur from time to time.  Make sure you speak to a loan officer with experience during your quest for information and ask for client comments.  
Scheduled for March  2, 2015,  Reverse Mortgage Guidelines change. The new changes affect eligibility and here are the latest:
 
  1.  A financial assessment could make it tougher to qualify. … (0 comments)

reverse mortgage specialist: Reverse Mortgage & Required Counseling - 10/22/14 05:49 AM
Reverse Mortgage & Required Counseling

Counseling, in person or over the phone, is a mandatory step for reverse mortgage applicants. The purpose of third party counseling is for consumer protection as well as to provide additional information and to answer questions.  Counseling may be scheduled either before or after talking to a reverse mortgage specialist and typically lasts about one hour.
 
To locate an FHA counselor, click here  ⇒  HECM Counseling Agencies.

Shop around a bit and make a few phone calls, because sometimes counseling is offered for free or at a very low cost to you. Typically, when free counseling is available, it is because … (3 comments)

reverse mortgage specialist: Reverse Mortgages in Sacramento County. - 09/22/14 06:29 AM

Reverse Mortgages in Sacramento County   
Information regarding Reverse Mortgages is easy to find on the internet but learning about your own situation is probably what you are really looking for. Contacting a Reverse Mortgage Specialist who will provide you with a no-cost and no obligation loan comparison is time well spent.   Make sure the loan officer you talk to is a specialist.   A second opportunity to review the details occurs with required reverse mortgage counseling. A licensed counselor will also answer your questions and review the FHA guidelines and your options.
Enhancing your retirement via a HECM reverse mortgage (either refinance or purchase) is an opportunity worth studying. Title to your … (0 comments)

reverse mortgage specialist: Am I Eligible for a Reverse Mortgage in Sacramento? - 08/04/14 05:05 AM
Am I eligible for a Reverse Mortgage in Sacramento?
 
If you say yes to the following questions there is a good chance you are eligible for a Reverse Mortgage in Sacramento, California or any city or state that is your primary residence. Here are five simple questions.
1.   Is your current home your primary residence?  
2.   Are you 62 or older?
 3.  Does  extra cash or earning interest on a line of credit intrigue you?
 
    4.   Is your Sacramento home free and clear?
            .........If not, is your current equity more   than 50% of your home's … (3 comments)

reverse mortgage specialist: Sacramento Seniors: Are mortgage payments keeping you from retirement? - 08/01/14 02:56 AM
Sacramento Seniors: Are mortgage payments keeping you from retiring? 
Now, if you enjoy making mortgage payments of several hundred dollars a month, please don't stop making them. But if you don't enjoy making them, why not look at a financial strategy to postpone that obligation?  You are urged to take a serious look at the benefits of a reverse mortgage.
Very few of us look forward getting older. On the other hand, the thought of retiring has a certain appeal. However, monthly mortgage payments can be a major obstacle.  Here is a situation where being older is good. The amount of money you receive with a reverse mortgage is based on several criteria and … (0 comments)

reverse mortgage specialist: Am I eligible for a Reverse Mortgage in Washington? - 06/04/14 07:46 AM
Am I eligible for a Reverse Mortgage in Washington?
If you say yes to the following questions there is a good chance you are eligible for a Reverse Mortgage in any state that is your primary residence. Here are five simple questions.
1.  Is your current home your primary residence?  
2.  Are you (and your spouse) 62 or older?
3.  Do you like your home and have plans to live there for a long time?    
4.  Do you own your Washington home free and clear?
..............If not, is your current equity more than 50% of your home's current value?
5.  … (0 comments)

reverse mortgage specialist: Spokane Baby Boomers Savings Last Longer - 05/28/14 07:47 AM
Spokane Baby Boomers Savings Last Longer with a Reverse Mortgage
Why? How?
When you retire with a home mortgage you are committed to making monthly payments on your home loan.  Typically, a retiree's income is reduced when the transition from employed to retired occurs and unfortunately a mortgage payment is the largest single obligation in the budget. Too many folks are retiring with mortgage debt.  Just imagine what you could do with the money you will save when the monthly mortgage payment is reduced to just homeowner's taxes and insurance.*  What could you do with the extra cash?  Anything you want … (0 comments)

reverse mortgage specialist: Is Spokane, Washington a top place to retire? - 05/13/14 09:35 AM
Is Spokane, Washington a top place to retire?  More than 10,000 people per day are entering the baby boomer classification and thoughts of retirement and relocation begin to occupy more of their time.  They want to make decisions before health and money issues prevent them from making those choices.    
According to one source, Grandparents.com, affordability is an important criteria and Ellen Breslau, editor-in-chief, announced in a recent press release, “We’ve found that when it comes to retirement, people want the whole package:  places that are beautiful, cultural, the living is easy and their nest egg won’t get tapped out.”  Six cities were selected … (0 comments)

reverse mortgage specialist: Purchase a Home in Spokane with a reverse mortgage? - 11/20/12 07:18 AM
Purchasing a home in Spokane with a reverse mortgage is very similar to purchasing a home with a conventional mortgage.  The down payment must be from qualified sources and is based on certain factors, such as
 ·        Purchase price
·        Home’s appraised value
·        Interest rates
·        Borrower’s age
The current national home value is capped by FHA at $625,500 and in Spokane that typically isn’t a problem.  Our median home price hovers around $120,000.   Empty nesters who wish to downsize without incurring monthly mortgage payments may think the program is too good to be true. So now it is … (0 comments)

reverse mortgage specialist: Wait! What IS a reverse mortgage? - 05/11/11 07:20 AM
Wait! What IS a reverse mortgage?
The other day I had a conversation that summarizes an all-too-common situation.
I was chatting with a lovely senior lady (we’ll call her Jane) who, with her husband, was shopping for a new senior-friendly home.
I suggested that she may wish to purchase the home with a reverse mortgage.
“Oh no! I don’t want a reverse mortgage,” Jane proclaimed.
“Why not?” I asked?
“I just don’t want one. No reverse mortgage for me.”
“But you would be able to live here, keep a great deal of your cash from the sale of your previous home, and never have a house payment as … (0 comments)

 
Jack Tenold, Specializing in Reverse Mortgages (Jack Tenold LLC)

Jack Tenold

Specializing in Reverse Mortgages

Spokane, WA

More about me…

Jack Tenold LLC

Address: 203 N Washington Suite 200L, Spokane, WA, 99201

Office: 509-710-2227

Mobile: 509-710-2227



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