reverse mortgage specialist jack tenold: Reverse Mortgages: Cost vs Benefit - 02/03/16 08:07 AM
Reverse Mortgages:  Cost vs Benefit?
 
What are the costs?  What are the benefits? Only the homeowner can make the final decision, but an experienced professional can certainly explain the costs vs the benefits of a Reverse Mortgage to anyone with an open mind.  A second line of  information comes from the counselor at the mandatory counseling session. Full disclosure at every turn. 
 
Over the years, I have visited with eligible seniors who appear in "full body language" mode with arms crossed and legs firmly planted on the floor who are certain that Reverse Mortgages are terrible. And horrible.  
They are certain that no good … (4 comments)

reverse mortgage specialist jack tenold: Jack Tenold Hosts Reverse Mortgage Seminars March 20 & 21 - 03/12/15 07:32 AM
Jack Tenold Hosts Reverse Mortgage Seminars March 20 & 21 in Spokane, Washington. 
 
If you are interested in learning how to make your retirement dollars go farther don't miss the Reverse Mortgage Seminars scheduled for Friday, March 20 and repeated Saturday, March 21 at the Shadle Library, 2111 W Wellesley.
No longer is a Reverse Mortgage considered a loan to save desperate retirees.  It is a financial strategy. 
Will you outlive your savings? Are mortgage payments taking a large bite out of your monthly budget?  Learn how a Reverse Mortgage may benefit you. Learn from Spokane's Reverse Mortgage … (0 comments)

reverse mortgage specialist jack tenold: You can't flunk reverse mortgage counseling. - 02/11/15 03:38 AM
You can't flunk reverse mortgage counseling.
 
Whew!  The pressure is off but you still want to have a total understanding of the senior home loan called a reverse mortgage. 
FHA requires that all applicants on a Reverse Mortgage have HUD counseling either over the phone or in person.  Nearly all of my clients get the required counseling while sitting in the comfort of their own homes. Either way, grab a cup of coffee or tea and relax; you can't flunk.
A reverse mortgage specialist  will provide you with a list of counselors. First make an appointment with an experienced … (0 comments)

reverse mortgage specialist jack tenold: Reverse Mortgage Borrower Checklist Still Good for a Short While - 01/28/15 05:07 AM
Reverse Mortgage Borrower Checklist Still Good for a short while
 
You won’t need to provide all of the items on the list below to support your reverse mortgage application but you must act fast.  Reverse Mortgage guidelines are changing March 2, 2015.  The changes may affect your ability to qualify and you will be required to provide many more financial documents such as tax returns, income statements & more.
 
1.  Identification (2 pieces, all borrowers)
·       Drivers License or state issued ID or current passport
·       Social Security Card or Medicare Card
2.  Proof of Homeowner’s Insurance
·       Name … (0 comments)

reverse mortgage specialist jack tenold: Reverse Mortgages for Oregon's Senior Homeowners - 01/12/15 05:46 AM
 Reverse Mortgages for Oregon's Senior Homeowners 

Oregon 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 specialist (who has a proven track record 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 … (0 comments)

reverse mortgage specialist jack tenold: Questions about Reverse Mortgages from Spokane senior homeowners - 12/05/14 08:44 AM
Questions about Reverse Mortgages from Spokane senior homeowners
 

 Recently I hosted an opportunity for Spokane retirees, baby boomers and senior homeowners to learn about Reverse Mortgages at the Shadle Library. The library is a quiet, neutral location that is convenient for meetings, seminars and classes.
The following are questions and answers about reverse mortgages from that event.  
 
Q:  How much money can I receive from a reverse mortgage on my home?
      The amount you can borrow depends on your age, the current interest rate, and the appraised value
of your home.  First, of course,  any existing mortgages … (0 comments)

reverse mortgage specialist jack tenold: Reverse Mortgage Purchase in Spokane County - 10/28/14 04:56 AM
Reverse Mortgage Purchase in Spokane County
....................... A strategy for home buyers 62 or older
 
If cash is king it is wise to leave your liquid assets untouched when you purchase your next or your last home.  A reverse mortgage on a new home is a financial strategy worth taking a very serious look at.  When you avoid dipping into your investments, you keep your financial goals in tact.  And....with a HECM loan you don't have monthly mortgage payments. Worth considering? 
 
Note:  You still are required to pay property taxes, insurance, and HOA fees (if any) as well as keep the  home in good condition.  The home must be your primary residence. At this writing, there are … (2 comments)

reverse mortgage specialist jack tenold: Reverse Mortgage Purchase in King County - 10/21/14 03:48 AM
Reverse Mortgage Purchase in King County 
....................... A strategy for home buyers 62 or older
 
You have probably heard that cash is king so leave your assets untouched when you purchase your next home.  A reverse mortgage on a new home is a financial strategy worth taking a very serious look at.  When you avoid dipping into your investments you keep your financial goals in tact.  And....with a HECM loan you don't have to dig into your nest egg for monthly mortgage payments. 
 
 
 
 So, how do you go about purchasing a home in King County (or anywhere in Washington) with a HECM (home equity conversion mortgage)? 
All or part of the proceeds from … (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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