From Salem to Portland,
Reverse Mortgage Page has helped many Oregon seniors with their reverse mortgage needs. In fact, we have helped thousands of seniors all over the Pacific Northwest.
Reverse Mortgage Basics:
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Senior Homeowner
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62 or older
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Owns home as a primary residence
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In need of cash
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Not interested in moving out
In addition, note that for an Oregon reverse mortgage, senior homeowners must have a significant amount of equity in their homes. You generally cannot get a reverse mortgage for more than about 50% of the total home value. So, if you have 50% of your house value in equity, your reverse mortgage will only pay off the existing mortgage. Many people get a reverse mortgage for just this reason – to pay off the current mortgage. The thought of no monthy mortgage payment is quite enticing.
Another great resource for Oregon seniors is
Oregon Department of Human Services
Seniors and People with Disabilities
500 Summer St. NE E02
Salem, OR 97301-1073
503-945-5811
800-282-8096
TTY: 800-282-8096