Downsizing
Downsizing is when a family is shrinking in size and need a home that corresponds more fully with the new lifestyle associated with this. Many times as people enter their retirement years they could have new property requirements that are a better fit.
If the downsizing borrower has a larger property with a smaller mortgage on it, it is possible that this new home could be purchased with all cash.
If you are a downsizer and are considering an all cash purchase, I can help guide you through all of your best options with an eye towards retirement planning and tax strategy. I have relationships with some very talented financial planners and CPA’s here in Portland and we can prepare a holistic retirement/downsizing plan for you. A conversation about a reverse mortgage might be worth having at this time as well.
Did you know that it is possible to PURCHASE a home with a reverse mortgage?
