Business Details
7 Years
experience
Your Trusted Reverse Mortgage Partner in Oregon
Established in 2019, Northwest Reverse Mortgage specializes in reverse mortgage solutions, founded by Jeff Foody, a seasoned industry expert with over two decades of experience. We operate as a dedicated reverse mortgage brokerage, licensed in over 20 U.S. states, offering tailored financial strategies for homeowners aged 55+. Our approach emphasizes personalized service, transparency, and access to a comprehensive range of reverse mortgage programs, including FHA HECM, proprietary, and jumbo loans.We prioritize client education, ensuring informed decision-making while maintaining a commitment to ethical practices and customer satisfaction. Our team streamlines the application process, providing guidance from initial consultation to closing, with a focus on competitive rates and timely service. As a locally owned business, we combine national expertise with community-focused support, acting as a trusted advisor to help clients achieve financial security in retirement.
Services
HECM Reverse Mortgage
Reverse Mortgage for Purchase
Proprietary Reverse Mortgages
Reverse Mortgage Refinance
Jumbo Reverse Mortgages
Home Equity Conversion
Purchase Loan Programs
Loan Counseling Services
Document Preparation
Eligibility Assessment
Details
- Year established: 2019
Highlights and features
- We offer over 20 years of reverse mortgage expertise through Jeff Foody's leadership.
- Our personalized approach ensures tailored solutions for unique financial situations.
- Licensed in 20+ states, including Oregon, Washington, and California.
- We maintain a 100% customer satisfaction rate with competitive rates and timely closings.
- Our team provides transparent guidance through the entire reverse mortgage process.
Associations and certifications
- NMLS
What people say
Expert guidance
Timely service
Stress-free closings
Personalized support
Competitive rates
Services
HECM Reverse Mortgage
The Home Equity Conversion Mortgage (HECM) allows homeowners aged 62+ to convert home equity into tax-free funds without monthly payments. This FHA-insured program enables refinancing existing mortgages or accessing cash for retirement needs. Borrowers retain homeownership while using equity to supplement income, with flexible disbursement options including lump sums, monthly payments, or credit lines.
Reverse Mortgage Refinance
This service helps homeowners replace existing mortgages with reverse loans, eliminating monthly payments. Funds can be used to pay off debts, improve homes, or boost retirement income. The refinancing process considers current home values and interest rates to maximize available equity for financial flexibility.
Reverse Mortgage for Purchase
Seniors aged 62+ can buy new primary residences using HECM for Purchase loans. This single-transaction process combines down payments with reverse mortgage proceeds, avoiding monthly payments. Ideal for relocating to retirement-friendly communities or downsizing while maintaining financial liquidity.
Proprietary Reverse Mortgages
Non-FHA proprietary reverse mortgages serve high-value property owners needing larger loan amounts. These programs offer flexible terms for homes exceeding FHA limits, providing tailored solutions for luxury properties or unique financial scenarios while maintaining no monthly payment requirements.
Loan Counseling Services
Mandatory counseling ensures clients understand reverse mortgage implications. Our HUD-certified counselors explain financial obligations, repayment terms, and long-term impacts. This service guarantees informed decision-making while meeting federal requirements for loan approval and consumer protection.
People
Jeff Foody
President and Owner
Jeff Foody, NMLS 253303, brings 20+ years of reverse mortgage expertise, specializing in tailored solutions for retirees. As founder, he prioritizes ethical lending practices and client education, ensuring informed financial decisions. His leadership focuses on streamlining processes and maintaining industry-leading service standards.
Questions
What reverse mortgage options do you offer?
We provide FHA HECM, proprietary/jumbo reverse mortgages, and specialized programs for purchase or refinance transactions.
How can a reverse mortgage benefit retirees?
It converts home equity into tax-free cash without monthly payments, supporting retirement income, medical expenses, or home improvements.
What are your service areas?
We operate in Oregon, Washington, Idaho, California, and 16+ additional states with licensed services.
What documents are needed for application?
Required documents include ID, Social Security card, bank statements, mortgage statements, and homeowners insurance details.
How long does the process take?
Average closing time is 10 days, with expedited options available for urgent needs.
Do you offer counseling services?
Yes, we provide mandatory HUD-certified counseling to ensure full understanding of reverse mortgage terms and obligations.
Videos
Reviews (5)
JustinT
Nov 29, 2020
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Jeff and his team are AMAZING! I have referred many clients to NM Reverse and I have always been told how great they were treated. Keep up the good work team!
Karen Williams
Nov 12, 2020
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They take their sweet time about processing a loan and can't even be bothered to make a simple phone call or answer an email.
Roger Christiansen
Oct 25, 2020
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We found Jeff to be prompt to answer our questions. Informative with the lending process. Thorough in helping us understand the loan contract. It was a good experience.
Kay Simons
May 23, 2020
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Excellent experience and service. Did this under the advice of our Amerprise financial planner and CPA.
Dick Voce
May 16, 2019
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I was a mortgage banker and stock broker for most of my working career. It is refreshing to meet a person in the financial industry who truly cares about your goals over his financial gains. Jeff met with my wife and I personally twice and we had a number of phone conversations. Not once did Jeff try to close us and made a point more than once to say if we were considering moving in the next two years not to consider a reverse mortgage. Jeff is a wealth of information and if we ever need a reverse mortgage he is the only one I would call.
