senior home loans: Considering the reverse mortgage option? - 05/19/17 01:02 PM
Considering the reverse mortgage option?
 
A feature article published by the Washington Post, May 19, 2017 on the subject of Reverse Mortgages covers many topics of concern to seniors shopping for home loan options.  The author sheds a good light on the HECM for Purchase. Please click on the attached site and read the entire article.   
 https://www.washingtonpost.com/realestate/seniors-looking-to-downsize-their-homes-may-want-to-consider-this-reverse-mortgage-option/2017/05/18/b66dd268-2f4c-11e7-9534-00e4656c22aa_story.html?utm_term=.e23b95994111
 
 Of common concern to those who are interested in the topic of reverse mortgage is:
Q:   How large can the outstanding loan balance grow. 
”….. the good news is that under no circumstance will you — or your estate — have to pay the lender a deficiency between the market value of the … (2 comments)

senior home loans: 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)

senior home loans: 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)

senior home loans: Reverse Mortgage Seminar February 7 at Shadle Library Spokane WA - 02/02/15 06:32 AM
Reverse Mortgage Seminar February 7th at Shadle Library
If you are interested in learning how to make your retirement dollars go farther don't miss the Reverse Mortgage Seminar this Saturday, February 7th. at the Shadle Library, 2111 W Wellesley, Spokane WA.
New Reverse Mortgage Guidelines are changing March 2nd so this is a good time to learn more about the home loan that is available to seniors age 62 and older. The new law will require borrowers to prove income and credit worthiness. Don't procrastinate.
 No longer is a Reverse Mortgage considered a loan to save desperate retirees.  It is … (2 comments)

senior home loans: Reverse Mortgage in Clark County, Washington - 10/28/14 05:53 AM
Reverse Mortgage in Clark County or anywhere in Washington.  
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 HECM 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 as well as your options.

Enhancing your retirement via a HECM reverse mortgage (either refinance or purchase) is an opportunity worth studying. Title to your home remains in your … (2 comments)

senior home loans: 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)

senior home loans: Am I eligible for a Reverse Mortgage in Oregon? - 05/31/14 03:15 AM
Am I eligible for a Reverse Mortgage in Oregon?
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.
Is your current home your primary residence?  
Are you (and your spouse) 62 or older?
Do you like your home and have plans to live there for a long time?    
Do you own your Oregon home free and clear?
..............If not, is your current equity more than 50% of your home's current value?
Would having extra cash or … (0 comments)

senior home loans: Is your Vancouver WA home your retirement home? - 01/10/14 09:43 AM
 If your current Vancouver home is your retirement home, here are a few minor improvements to consider in order to stay safe in your home for the long term.
1.  Install hand rails on porches and patios - prevent falls.
2.  Install a second banister on stairwells - two is better than one. 
3.  Install grab bars in showers, tubs and near toilets - may come in handy!
4.  Install touch pad key system – it sure beats searching for keys and you can change the code for housekeepers, repair men and care givers.
5.  Install motion sensor outdoor lighting  - … (0 comments)

senior home loans: New Reverse Mortgage Guidelines - 10/08/13 06:39 AM

 
    New Reverse Mortgage Guidelines include paying   mandatory obligations and a financial assessment component become effective January 13, 2014.
 The foremost benefit of a reverse mortgage is to help seniors stay in their homes. This remains and it is still the only program of its kind, regardless of how many guideline changes come down the pike. 
      It will still help seniors and it is still a financial planning tool! 
 
The program changes (in a nutshell) include
 ·    Limitations to the amount of funds available at closing
 ·   Mandatory obligations must be paid and may include fees associated with the reverse … (1 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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