A recent Reverse Mortgage inquiry has brought up the topic of weighing the benefits and risks of Non-FHA Reverse Mortgages. This particular couple has a 20-year age difference between them. He is 70 and she is 50. He works in a high-earning profession, but experienced an income interruption due to COVID. They hoped to get […]
About Don Opeka
Don and his wife Terri started Orion Mortgage in 1996. From the beginning, Orion Mortgage has been focused on customer satisfaction. The growing company was incorporated in Colorado on December 29, 1997. Our primary sources of business are repeat customers and referrals.
We strive to provide the best possible service to our clients at competitive pricing!
Entries by Don Opeka
I recently had a discussion with a woman who works for a non-profit organization. Her role is to work with people who are seeking “affordable housing” and since many of those seekers do not own a home, she didn’t think my book, “Why A Reverse Mortgage?” was relevant to her work. However, I pointed out […]
Adults over the age of 62 are quite often still employed and may have a traditional mortgage requiring monthly payments. They are also often tasked with care or oversight of their parents or perhaps a sibling or special-needs adult child. These responsibilities make them vulnerable to both loss of employment and higher expenses which, in […]
I am often asked about how property and loan transfers take place when an owner dies. It is important to understand that the title to the property and the loan are two separate transactions, regardless of the type of loan on the property. Title to the property can be transferred from the deceased to another […]
Many people purchase who purchase a large home in their 40s or 50s have then intention of “downsizing” when they are ready to retire. That larger house is purchased because their income is typically at it’s highest during those years and many families still have growing kids living with them, so the space is needed. […]
I recently found an article describing how 918,400 older borrowers were either behind on their mortgage payments or at risk of falling behind in July, 2021. The obvious question to me is, “If CFPB can identify these borrowers, why aren’t they being screened for and offered FHA Reverse Mortgages?”. (Read the article for yourself HERE). […]
I realize that I have not written a blog post for more than a year. The Covid-19 shutdown and writing a book have distracted me from my normal routine of writing for this blog. Now that the book, “Why a Reverse Mortgage?” is available from your favorite book seller, I intend to return to posting […]
There is quite a bit of commentary being shared by industry professionals and news organizations regarding the impact of temporary COVID-19 regulations and current economic trends on the housing, mortgage and real estate industries. At Orion Mortgage, our specific expertise is on mortgages and we specialize in refinances (traditional, VA and Reverse) for Colorado homes. […]
In this time of financial uncertainty, we are seeing renewed interest in Reverse Mortgages for three primary reasons: • Concern over the rapid drop in the value of financial investments. With the stock and bond markets exhibiting high volatility and large drops in value, people who have a Reverse Mortgage line of credit can use […]
In early 2018, after living in their current home for nearly 20 years, Alan and Grace (names have been changed to protect privacy), both in their early 70s, decided it was time to look for a smaller, more affordable home. After talking to their Realtor, Alan and Grace found themselves in a quandary that is […]