Reverse Mortgages and Property Taxes

Wealth Management Using Reverse Mortgages

Reverse Mortgages & Financial Planning

FHA and Reverse Mortgage History

When to use reverse mortgages

Welcome to my Reverse Mortgage website!

 
Mission Statement
John Kennedy
Senior Income Caseworker
 
John Kennedy is a senior who prefers to remain active through “retirement years”. He is a long time resident of West Seattle.
 
John has over forty years experience in financial problem solving for families and small business.
 
John has elected to specialize in advising older Americans in regards their income needs and generation transfer planning. He is a founder of the “Aging In Place Council Of Washington”.
 
John has been licensed nationally with the Securities and Exchange Commission (SEC) and in the State of Washington as a Securities Dealer, and as a Real Estate Broker. He has been a member of the NASD and is currently advising banks and mortgage brokers on the use of the Home Equity Conversion Mortgage (HECM) also known as “The Reverse Mortgage”.
 
John is a public speaker, and an author of articles regarding financial affairs. John prefers to limit his clients to seniors (his peers).
 
He is a charter member of the “Alliance for Retired Americans”, and a member of the “National Council of Senior Citizens”, and the “Puget Sound Alliance for Retired Americans ”.
 
John is a former member of the Seattle King County Advisory Committee for Aging and Disability Services, appointed by the mayor of Seattle, Greg Nickels.
 
John is a volunteer, and former Community Coordinator with AARP.
 
For an unbiased no-obligation analysis regarding the federally insured Home Equity Conversion Mortgage (HECM) call John at 206-935-9884.
 
 

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Reverse Mortgages

A reverse mortgage is a home loan that lets homeowners convert a portion of the equity in their home into cash. The equity built up over years of mortgage payments can be paid to you. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence.

 

Am I Eligible?

To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance
that can be paid off at the closing with proceeds from the reverse loan; and must live in the home.

 

How Much Do I Get?

The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.

 
 

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