Join Donald Opeka with Orion Mortgage for an informative webinar on reverse mortgages.
Donald specializes in reverse mortgages through refinancing.
Don and Terri Opeka have been providing mortgages for Colorado properties since 1996. At Orion Mortgage, Inc., they believe it is important to take the time to fully understand each borrower’s unique situation in order to provide them with the best possible mortgage product to help them achieve their goals. Orion is proud to say that the majority of their business comes from repeat customers and referrals. Orion Mortgage, Inc. has an A+ rating with the BBB and are members of the Broomfield Chamber of Commerce, National Association of Mortgage Brokers, Colorado Association of Mortgage Professionals, National Reverse Mortgage Lenders Association and the Denver Metro Association of REALTORS®.
You might want a Reverse Mortgage IF:
1. You are running out of money and haven’t planned for assisted living or memory care help.
A. Spouse dies, income drops, RM provides more income, eliminates mortgage payment, or both.
2. You would like to spend time in a warm weather climate
3. Looking for a home equity line of credit
A. Advantages to a Reverse Line of credit:
Bank can’t close it early.
No need to requalify every 10 years.
Line amount grows with time.
No required payments
If the Reverse Line of credit is in place, it can be accessed quickly.
4. Want to save your IRA and and investments for liquid access
A. Very important to watch now with the extreme volatility of the financial markets. A Reverse Mortgage can save a borrower from liquidating depressed assets. Some have seen drops in value that far exceed the cost of a Reverse Mortgage.
5. Need to stop current mortgage payments for extra cashflow
A. This is particularly pertinent now. Example: A man who just lost an engineering job a few years before he was planning to stop working. A Reverse Mortgage could allow him to get through this drop in income. When he gets a new job, he can start making payments again. A Reverse Mortgage is much less expensive than the divorce he is contemplating.