Selling a Condo in WA? Get It Preapproved First

Washington State Condo Mortgage ApprovalIf you own a condo in Washington and you’re thinking about selling, this one’s for you. Most sellers get their home ready with paint and staging — but very few think about whether their condo project itself is financeable and what the financing options are.

Why your condo’s financing eligibility matters when you sell

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Mortgage Rates This Week: Warsh’s Jackson Hole Speech, Jobs Week & Home Appreciation

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Sunday Drive to Gig Harbor

Gig Harbor is one of my favorite places to visit from our sailboat with its protected harbor, historic waterfront and great restaurants. However, you don’t need a boat to visit this charming town. Gig Harbor is easily accessible from the Narrows Bridge or from Highway 16 on the Kitsap Peninsula. [Read more…]

The Mortgage Porter Weekly | Inflation Cools, Listings are Up and Reverse Mortgage Myth Busting

This Week’s Recap

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Common Misconceptions about Reverse Mortgages

common misconceptions about reverse mortgagesIf you’ve ever discussed reverse mortgages with friends or family, you’ve probably heard some version of “the bank takes your house” or “it’s only for people who are broke”. I hear myths like this constantly, and most of them are out of date or simply not accurate. Reverse mortgages have changed a lot over the years and can be very beneficial for seniors who are sitting on significant home equity and who want to stay in their homes. With that said, reverse mortgages may not be the right choice for everyone.

My goal with this post is to help clear up the most common misconceptions I run into and put reverse mortgages in context with other mortgage options available for people who are 62 and older. As always, I like to provide as much information as possible to help you make informed decisions about your finances. [Read more…]