Are you considering doing a reverse mortgage in Bend, Oregon? Bend, Oregon has an opportunity to be a great place to retire for the active senior, but without enough cash reserves, one could feel stuck. This is where a reverse mortgage can help.
Bend, Oregon has so much to offer in ways of site seeing, golfing, fishing, skiing and many other activities, that it would be a shame to be cash poor and real estate rich. If you own a home in the Central Oregon area and are 62 years or older, you should consider a reverse mortgage. It will change your life for the better.
When a reverse mortgage is used to access the equity in your home, it has the ability to free up some of the cash that is locked up in your home. If you have a mortgage, or your home is paid for, you can qualify to increase your monthly income.
With a reverse mortgage, you get to keep the title to your home, just like any other mortgage. The difference though, is you don't have to make payments on the loan until you no longer live there as your primary residence. See reverse mortgages how they work for more information on why a bank would loan you money and not care about getting repaid right away.
There are really only two ways to access your home's equity. One is to sell your home, the other is you get a loan. If selling and all the stress of moving is not in your agenda, you are going to want to refinance (or finance) your home. If you don't want to make monthly payments, a reverse mortgage is your only option.
There are several different reverse mortgage programs available so if you would like to have one of our reverse mortgage specialists, give us a call, we can even come to your home if you prefer. You can reach us locally at (541) 330-2198. If you need a toll free number call us at (877)339-6633. Try our free Reverse Mortgage Calculator to see what you qualify for.