Over 55 & Worried About Money?
Use What You Know & Have to Secure Your Future!
A Half Day Free Event
12:30-3:30, Thursday, November 15th, 2018
Pioneer Community Center
615 5th St., Oregon City
12:30– 1 Registration. Introduction, Welcome
1:00-1:30 Use What You Know—Increase Your Income Through Self Employment Turn Your Experience and Know-how Into a Solo Business
Jackie B Peterson - expert in Encore Self Employment
1:30-2:00 Use the Equity in Your Home—Strategic Use of Your Asset
Understand the Home Equity Conversion Mortgage; Consider an ADU
Rachel Hemmingson NMLS# 1502324/1169 - Home Equity Conversion Mortgage Specialist w/ Nextview Mortgage (OR State disclosures on back)
2:00-2:30 Use Your Home to Provide Income & Share Costs
Rent Space, Share Housing—How to Make it Work for YOU
Anne Andler & Michele Fiasca of Let’s Share Housing
2:30-3:00 Questions & Answers - a panel with Jackie, Rachel, Anne & Michele
3:00-3:30 Next Steps. One-on-one conversations, appointment setting, other
Seating is limited — Please call Pioneer Community Center at 503-657-8287 to RSVP.
Snacks will be provided.
A reverse mortgage is a loan that must be re-paid. Borrower retains title and the loan is due and payable when the last borrower no longer lives in the home as their primary residence.
One Borrower must be 62; Borrowers must pay taxes, insurance and maintain the home. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately and may subject the property to a tax lien or to possible foreclosure.
The lender may charge an origination fee, mortgage insurance premium, closing costs and servicing fees, if applicable; all or any of which may be added to the loan balance.
The loan balance grows over time and interest is charged on the outstanding balance. Interest on a reverse mortgage is not deductible from the person’s income tax return until the borrower repays all or part of the reverse mortgage loan. Not tax advice, please consult your tax professional.
When the loan is due and payable, some or all of the equity in the property with the reverse mortgage no longer belongs to borrowers, who may need to sell the home. Family members may refinance or otherwise repay the loan, with interest, from other sources.
These materials are not from HUD or FHA and this document was not approved by the Department or Government Agency.
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