Using a Reverse Mortgage to Improve Your Home and Age in Place.
For many homeowners, the goal isn’t to move — it’s to stay.
I often speak with homeowners who love their neighborhood, their community, and their home, but realize that the house itself may need updates to support the next phase of life. Whether that means improving accessibility, upgrading systems, or making the home more comfortable and efficient, remodeling can play a key role in aging in place.
For homeowners 62 and older, a reverse mortgage can be a valuable option to help fund those improvements. [Read more…]
Recently, I spoke with a Seattle homeowner who is planning a major remodel. Like many homeowners, he initially reached out asking about a HELOC — which is often the first option people think of when they want to improve their home. They currently have a very low rate with their existing mortgage, which is one reason why they’re considering a home equity line of credit.
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. 
As the October 31 property tax payment deadline nears, King County Assessor John Wilson has a clear message for seniors: Take advantage of the county’s property tax relief program, which is designed to help seniors reduce their tax burdens and stay in their homes longer.
If you have been finding the current lack of inventory a challenge, you may want to consider a renovation mortgage. 
