Jessica has a good pension to augment her social security. But when larger expenses arise, she’s concerned her retirement safety net isn’t strong enough…

Jessica has enough income to cover regular expenses in retirement.  But, when larger, unplanned costs started to crop up, she became concerned that her retirement safety net was not quite strong enough.  Her home is perfect with one level, and there is enough room for family gatherings and to have the grandkids play (she’s helping with some after school care).  Jessica explored a reverse mortgage as a back-up and EVEN started the application process. Then her loan officer quit and the next person in line from that mortgage company called her, a “fast talker”; not really the quality you want in a financial professional.  Clearly uncomfortable, Jessica reached out to her Credit Union, who referred her to Kim Dodge Reverse Mortgage.  The difference was startling, she had found the right reverse mortgage team that took the time to answer her questions, walk through the details, and guess what? They structured the loan in a way more appropriate for Jessica’s needs.

The Financial Challenge:  Jessica’s home equity line of credit was maxed out.  Recent interest rate hikes took the minimum payment from $250 to $950 per month!  This increase and some credit card debt had her struggling.  She hadn’t felt completely comfortable that she understood the process of a reverse mortgage with that part time reverse loan officer.  Kim’s team was different, no question was out of bounds, details were pro-offered and they were available to go over the smallest concern, even if she needed to ask the same question more than once!

The Solution:  The FHA reverse mortgage, with a responsible estimate of her home value, would pay off the HELOC (Home Equity Line of Credit) and still give her enough funds to pay off the higher interest credit card debt. THAT FREED UP A LOT OF CASH-FLOW!  (Like really a lot, that Jessica could now apply to her other credit card balances and bring those down fast.)

The Reverse Mortgage Bonus:  She also has an additional, REVERSE MORTGAGE LINE OF CREDIT to draw upon comfortably, for other unexpected emergencies. The HECM (home equity conversion mortgage) otherwise known as a reverse mortgage does not require her to make a principal and interest payment during her life in the home.

Monthly cash-flow is improved, high cost debt has been eliminated, and now she has an emergency fund – ALL FROM HER OWN HARD WORK, HER OWN METICULOUS HOME SAVINGS OVER THE YEARS and… the unique benefits of an FHA insured Reverse Mortgage done right!  Jessica is using an asset she has built up over her life time, to support her quality of life in retirement, strengthening her own FINANCIAL SAFETY NET.  Good for you Jessica, and good for your Kim Dodge Reverse Mortgage.

What to Do Next:   Call, Text or Email for information on how a Reverse Mortgage may give you the financial security or extra spending money you need for your quality of life in your home.

Learn About Your Options, Be Retirement Ready!

Kim Dodge Reverse Mortgage

Phone: (503) 595-1600  or  Email:

Kim Dodge Reverse Mortgage

Kim Dodge, Branch Manager | NMLS 186099
Cheryl Teigen, Loan Officer  | NMLS 2089085
Kim Dodge Reverse Mortgage, a dba of Zyng, Inc. | NMLS 76801 | Licensed in Oregon & Washington |