Your Reverse Mortgage Specialists
VP of Reverse Mortgage
NMLS – 830225
- 503.810.9922
- 503.636.6000 ext. 1140
- larry.melton@directorsmortgage.net
Reverse Mortgage Specialist
NMLS – 409797
- 541.543.5791
- 503.636.6000 ext. 2811
- knorton@directorsmortgage.net
Reverse Mortgage Specialist
NMLS – 507150
- 360.521.5901
- 360.836.5279 ext. 2205
- lenny.severs@directorsmortgage.net
Reverse Mortgage Specialist
NMLS – 409797
- 360.904.3830
- 360.836.5279 ext. 2112
- jim.christian@directorsmortgage.net
Reverse Mortgage Processor
Robin Rosa
Reverse Mortgage Specialist
NMLS – 1402813
Reverse Mortgage Specialist
NMLS – 304887
STAY IN YOUR HOME, OWN YOUR HOME AND GET RID OF MONTHLY MORTGAGE PAYMENTS!
Reverse Mortgages enable homeowners age 62 and over to borrow against the equity in their homes without having to sell the home, give up the title or assume a new monthly mortgage payment. The name “reverse mortgage” is appropriate because the payment flow is reversed: instead of you making monthly payments to a lender (like a regular mortgage), the lender makes payments to you.
WHO THEY'RE FOR:
- Homeowners at least 62 or older with built-up home equity
- Senior homeowners in need of cash flow to cover other expenses
- Senior homeowners who want to eliminate mortgage payments
- Borrowers who want to have improved quality of life
WHAT ARE THE BENEFITS?
- No more mortgage payments for life
- Supplement retirement income
- Make home improvements or repairs
- Pay property taxes
- Cover or pay off medical expenses
- Ability to travel
Consult your tax advisor or financial advisor for tax advice. These materials are not from HUD or FHA and were not approved by HUD, FHA or a government agency.
At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to the person and the person may need to sell or transfer the property to repay the proceeds of the reverse mortgage from the proceeds of the sale or transfer or the person must otherwise repay the reverse mortgage with interest from the person’s other assets. Lender will charge applicable fees which may include, but are not limited to, an origination fee, a mortgage insurance premium, closing costs and servicing fees for the reverse mortgage, all or any of which the lender will add to the balance of the reverse mortgage loan. The balance of the reverse mortgage loan grows over time and the lender charges interest on the outstanding loan balance. The person retains the title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately. Interest on a reverse mortgage is not deductible from the person’s income tax return until the person repays all or part of the reverse mortgage loan.
This is not a commitment to lend. Information deemed reliable but subject to change without notice. Qualified borrowers only, subject to credit approval. Restrictions may apply. NMLS-3240: OR, WA, CA, CO, ID, NM, MT and UT. Arizona Mortgage Banker License BK-0942517. Equal Housing Opportunity Lender.
