Help for Seniors Being Priced Out of their Homes

I was in a neighborhood group on Facebook where someone was sharing that they were having to sell their home that had been in the family for generations. They can no longer afford living in the Seattle area and had made the difficult decision to move their family. If you’re 62 or better, you may not have to sell your home to create a more affordable lifestyle.

Before selling, I recommend considering a reverse mortgage. A reverse mortgage can help provide relief by eliminating the monthly mortgage payments and/or by providing cash that can be used for home improvements, debt consolidation, medical needs or anything the homeowner wants. Credit does not have to be perfect and they will still maintain ownership the home. It is, at the very least, worth having a conversation with a trained reverse mortgage specialist to see if it’s something that will work for your scenario.  A reverse mortgage can be used on the existing home, add an accessory dwelling unit or even buy your next home (without having a mortgage payment due).

Another option for senior homeowners is to apply for the senior property tax exemption to reduce their property tax bill. As I write this post (June 2025), homeowners in King County who are 62 years or better with incomes under $84,000 can apply. Check with your county tax accessor to see what the requirements are and if you qualify – there is no reason to pay more than you have to!

If I can be of any assistance, please contact me. I work with a great team who are happy to have a conversation with you and answer any questions you may have about reverse mortgages. Let’s talk!

 

Mortgage Rate Update for the Week of June 2, 2025

It’s the first week of June and that means we have the Jobs Report being unleashed on Friday along with other employment data this week. Check out my weekly Mortgage Rate Update to learn how this and what else may impact mortgage interest rates this week.

 

Here to help you on the weekends!

Today I met with clients “virtually” via Zoom from the comforts of their home for a mortgage consultation. They’re getting ready to tour homes later today with their real estate agent and wanted to be prepared for what their options are in the event they find their next home. We discussed their preapproval and different strategies for homes they’re considering. [Read more…]

Mortgage Rate Update for the Week of May 26, 2025

Fannie Mae’s Upbeat Mortgage Rate Forecast with Rates in the 5s!

Fannie Mae recently released their monthly forecast for housing. May’s forecast predicts 30 year fixed conforming mortgage rates with rates entering the 5% range in the second quarter of 2026.

While hearing that the 30-year fixed rate might hit the 5% range next year is music to many ears, there are some things I would keep in mind. For starters, the rates are NOT guaranteed – it’s just a forecast… although I’d rather see a forecast with mortgage interest rates trending lower instead of rates pushing higher. 😉 [Read more…]

Mortgage Rate Update for the Week of May 19, 2025

Mortgage rates seem to be steady (or stuck!) in the same range since early April. Check out my latest Mortgage Rate Update to get the details.

If you’re thinking about buying, selling, refinancing or remodeling your home, please contact me! And don’t forget, we have our Reverse Mortgage Workshop this week on Thursday, “Retire Like a Boss”. This is a virtual event from noon-1pm so you can grab a lunch, your laptop and learn more about this tool for a comfortable retirement!

Mortgage Rate Update for the Week of May 12, 2025

Tariffs continue to toy with mortgage interest rates and we have a couple inflation indicators scheduled to be released this week that could impact mortgage rates. Also in this episode, we discuss renovation mortgages.

If you’re thinking about buying, selling, refinancing, remodeling or a reverse mortgage, I am happy to help you!

Join Me! Retire Like a Boss: Reverse Mortgage Workshop

Grab a lunch and your computer to learn more during our one-hour workshop where we discuss reverse mortgages. Whether retirement is on the horizon for you or if you’re wanting to learn about possible options for your parents, this workshop will help answer questions and address common misconceptions about the modern reverse mortgage.

I’m hosting the event along with Charles Butler, Retirement Mortgage Advisor – NMLS#2262315.

When: Thursday, May 22, 2025 from 12:00 – 1:00 pm PST.

Click here to RSVP or scan the QR code below. [Read more…]