Oregon Reverse Mortgage Lenders

The senior citizens of Oregon can now move to the Orgeon mortgage lender for valuble assistance in finding those needed funds to meet those monthly expenses that they face. The increase in expenses such as food, transport, energy, insurance and medical treatment are not being covered by the minor increase that the increased social security and other sources provide to them. This alternative is becoming a more attractive alternative for those homeowners as is provides them access to the equity which the have earned through years of faithfully making payments on the homes.

Reverse mortgage lenders specialize in a special type of home loan that enables older homeowners, over 62, to covert a portion of the equity in his or her home into tax free income. The equity built up over years of home mortgage payments can be the largest single investment holding for most elderly individuals. These types of mortgages are unlike a traditional home equity loan or second mortgage, when a lump sum is provided and then repaid over time.  With a reverse mortgage, the lender makes payments to the borrower without asking the borrower to give up title, or sell the home.  Also the loan does not need to be repaid until the borrower(s) no longer use the home as their principal residence.

There are a variety of methods in which the proceeds from a reverse mortgage can be provided.  One of the most common is a regular monthly cash advance, which assists the any senior citizens to make monthly payments on expenses.  The proceeds could also be paid as a single lump sum to be used by the borrower.  A line of credit can also be established for the borrower which then can be utilized when needed.  This allows the borrower to take only the funds needed and not have to pay interest on funds not immediately needed. A combination of these methods can also be done.

It is recommended that you meet with an independent reverse mortgage counselor before applying for the program.  The counselor can educate you about the reverse mortgage, alternatives and assisting in determining which product best fits your needs.  If you live in Washington reverse mortgages might be the right answer for you.  For more information contact the Oregon Housing and Community Services.  You can also receive free information about reverse mortgages by calling AARP. Since your home is probably your largest single investment, it's smart to know more about reverse mortgages, and to find the right reverse mortgage lender.





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One of the top Puerto Rican reverse mortgage lenders announced last week that it is moving into the US and is looking to grow its business by focusing on the Hispanic borrower population in the US Money House executives say the Hispanic market here is .

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MOI to introduce trial reverse mortgage plan - Taiwan Today

Taiwan Today
MOI to introduce trial reverse mortgage plan
Taiwan Today
Older citizens will have the opportunity to obtain a monthly living allowance following the MOI's introduction of a trial reverse mortgage plan this year. (Photo: Huang Chung-hsin) By Grace Kuo The ROC government will institute a trial reverse mortgage .

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Reverse mortgage may be best option for elderly homeowner
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Did you know you can pay your medical bills with a reverse Mortgage? Find out . - North County Times

Did you know you can pay your medical bills with a reverse Mortgage? Find out .
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A reverse Mortgage can be a valuable financial planning tool for seniors 62+. Sometimes referred to as a HECM or a HECM Saver, a reverse mortgage can allow you to access the equity you've built up in your home to pay for medical bills, solar heating, .

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Business Wire - NewDay Financial Names Julie McMillin Lee President of Reverse Division
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