Buyers Realty

09/17/2026

Mortgage Magic
Just now

🏡 A Nice One in Campbell

Every once in a while a property comes along with a combination you don't see very often.

648 W. Sunnyoaks Ave. in Campbel is a single-level end unit with 2 bedrooms, a private backyard and an attached 2-car garage.

For someone who wants to simplify without giving up a yard or garage, I think this is an interesting property.

It's updated, move-in ready and offered at $810,000

Here's the virtual tour if you'd like to take a look: https://www.tourfactory.com/idxr3245190
[Tour link]

TourFactory Property Site #3245190
tours.tourfactory.com

$810,000, 2 beds, 1 baths, 948 sq ft

09/07/2026

A Little Change of Direction…

After more than 35 years in the mortgage and real estate business, I’ve decided to put a little more of my energy back into something I’ve loved for just as long -magic. 🎩

Mortgage Magic is still open, and I’m continuing to take care of my existing mortgage and real estate clients and transactions. But these days, I’m putting more of my attention into performing and growing Doug Jones Magic.

I’ve been performing comedy magic for decades, and I still get a kick out of watching someone’s face when they have absolutely no idea how something just happened right in front of them.

I’m focusing my magic on the kinds of events I really enjoy:

🎩 Adult birthday parties and private gatherings
🎩 Corporate and company events
🎩 Senior communities
🎩 Schools, camps, Scouts, churches and community groups
🎩 Fundraisers, fairs and festivals
🎩 Close-up, strolling and stand-up comedy magic

My shows are clean, interactive and designed to get people involved- not just sitting and watching.

I'm also going to be concentrating my online presence on a few places rather than trying to be everywhere. If you know someone looking for a magician for an event, I'd appreciate you keeping Doug Jones Magic in mind.

After 35+ years, I'm still having fun doing this.

And honestly, that's probably the best reason to keep doing it. 😊🎩

07/28/2026

Mortgage rates are showing a small improvement today because the bond market is doing better and oil prices have moved lower.

There is not much important economic news today, so investors are mostly watching world events and waiting for the Federal Reserve’s announcement on Wednesday.

The Fed’s comments could give us clues about what may happen with interest rates in the future.

The good news: After a tough week for rates, even a small improvement is a positive sign.

Content

07/24/2026

Reverse Mortgage: Can a Surviving Spouse Stay in the Home?

Can a Surviving Spouse Stay in the Home After a Reverse Mortgage Borrower Passes Away?

One of the most important consumer protections built into today's FHA-insured reverse mortgages is the protection for an eligible non-borrowing spouse.

If one spouse obtained the reverse mortgage but the other spouse was not a borrower on the loan, the surviving spouse may still be able to remain in the home after the borrowing spouse passes away or moves permanently into a healthcare facility. They do not have to immediately repay the loan or sell the home.

HUD refers to this protection as a deferral period, but a simpler way to think of it is the surviving spouse's right to remain in the home as long as certain requirements are met.

To Keep This Protection in Place

The surviving spouse must:

1. Have legal ownership or the legal right to remain in the home
within 90 days after the borrowing spouse passes away.
2. Continue paying property taxes, homeowner's insurance, and
any HOA dues when applicable.
3. Continue living in the home as their primary residence. If they
move into a healthcare facility, the absence generally cannot
exceed 12 consecutive months.
4. Understand that no additional reverse mortgage funds are
available. During this time, the loan is frozen. No new monthly
payments, line of credit advances, or other loan proceeds can
be received.

When Does This Protection End?

The loan becomes due and payable when the surviving non-borrowing spouse:

1. Permanently moves out of the home,
2. Passes away, or
3. No longer meets the occupancy or financial requirements
described above.

This protection has helped many surviving spouses remain in their homes without the immediate stress of selling the property after losing a loved one. Like many reverse mortgage rules, however, eligibility requirements are very specific, so it is important to understand them before deciding whether a reverse mortgage is right for you.

Douglas Jones nmls 286668
Certified Reverse Mortgage Specialist

07/23/2026

Can a Power of Attorney Be Used to Sign a Reverse Mortgage?

Many families ask this question when a homeowner wants a reverse mortgage but is unable to handle all the paperwork personally. The answer is yes, a Power of Attorney (POA) may be used in certain circumstances, but there are strict requirements that must be met.

A Power of Attorney allows one person (the attorney-in-fact or agent) to act on behalf of another person (the borrower). However, a reverse mortgage lender cannot simply accept any POA. The document must be carefully reviewed to make sure it gives the agent the proper authority.

Generally, the Power of Attorney must:

1. Be durable, meaning it remains effective if the borrower
becomes incapacitated

2. Give the agent authority to encumber real property and handle
mortgage-related transactions

3. Have been executed while the borrower was still legally
competent

4. Have been signed before reverse mortgage counseling and loan
application

5. Meet all state legal requirements

6. Be approved by both the lender and the title company

A temporary Power of Attorney is generally not acceptable for processing a reverse mortgage, except in limited situations, such as being used solely for the closing process.

One of the most important considerations is timing. If a homeowner is already incapacitated and does not already have a valid Power of Attorney in place, a family member usually cannot simply create one. In those situations, legal advice may be necessary, and a court-appointed conservatorship may be required depending on state law.

The borrower must still complete the required HUD-approved reverse mortgage counseling process. The lender will determine who must participate and sign required counseling documents based on the borrower's circumstances and the specific Power of Attorney being used.

At closing, the attorney-in-fact will typically be required to sign a POA affidavit and execute the loan documents according to the wording of the Power of Attorney. The signing is usually completed in a format such as:

Jane Smith, by John Doe, her attorney-in-fact

where Jane Smith is the borrower and John Doe is acting under the Power of Attorney.

Because reverse mortgages involve a borrower's home, lenders, title companies, and attorneys take these requirements seriously. If you believe a Power of Attorney may be needed, it is best to discuss it with your reverse mortgage professional early in the process to avoid delays.

Planning ahead can make the reverse mortgage process much smoother for everyone involved.

Douglas Jones nmls 286668
Certified Reverse Mortgage Specialist

07/23/2026

How Is the Loan Limit Determined for a Reverse Mortgage Loan?

One of the first questions homeowners ask is, "How much money can I qualify for with a reverse mortgage?" The answer depends on several factors, not just the value of your home.

For a federally insured Home Equity Conversion Mortgage (HECM), the amount you can borrow is called the Principal Limit. It is calculated using three primary factors:

1. The Maximum Claim Amount

This is the lower of:

1. Your home's appraised value,

2. The purchase price (if you're buying a home with a reverse
mortgage), or

3. The current FHA lending limit.

If your home is worth more than the FHA lending limit, the calculation is based on the FHA limit, not the higher value.

As an aside, homeowners with higher-value homes should know that there are also proprietary (private) reverse mortgages. These loans are offered by private lenders rather than the FHA and may allow borrowers to access substantially more equity because they are not subject to the FHA lending limit.

2. The Age of the Youngest Borrower

Age plays an important role. In general, the older the youngest borrower (or eligible non-borrowing spouse, when applicable), the more money may be available. The government publishes Principal Limit Factors (PLFs) that increase with age until approximately age 90.

3. The Expected Interest Rate

Interest rates also affect the amount available. Generally speaking, lower expected interest rates allow for a higher Principal Limit, while higher rates reduce the amount that can be borrowed.

Your Available Funds

The Principal Limit is not the amount you receive as cash.

Before funds are available, several items may be deducted, including:

1. Any existing mortgage that must be paid off.

2. Closing costs and FHA mortgage insurance premiums.

3. Loan origination and other allowable fees.

4. In some cases, a Life Expectancy Set-Aside (LESA), which
reserves funds to pay future property taxes and homeowners
insurance if required by the lender.

The remaining amount is your Net Principal Limit, the funds available to you through a lump sum, line of credit, monthly payments, or a combination of these options.

First-Year Distribution Limits

Federal rules are designed to help borrowers preserve their home equity. In most cases, borrowers can access up to 60% of their available principal limit during the first 12 months, unless additional funds are needed to pay off mandatory obligations such as an existing mortgage.

Every homeowner's situation is unique. A reverse mortgage is not a one-size-fits-all solution, but understanding how the loan amount is calculated can help you determine whether it may fit your retirement goals.

Doug Jones
Certified Reverse Mortgage Specialist
📞 (408) 209-6773

NMLS #286668 | California DRE #00979517

07/23/2026

Can a Reverse Mortgage Exceed Home Value?

Many homeowners worry that a reverse mortgage could eventually grow larger than the value of their home. Is that possible? Yes. But the important question is: Who is responsible for the difference? The answer surprises many people.

The good news is that with an FHA-insured Home Equity Conversion Mortgage (HECM), you and your heirs are protected.

A reverse mortgage is a non-recourse loan, which means the loan is secured only by the home itself. Neither you nor your heirs will ever be personally responsible for paying more than the home's value when the loan becomes due.

Over time, the reverse mortgage balance grows because interest is added to the loan. If home values decline or the loan remains in place for many years, it is possible for the loan balance to exceed the home's market value.

Here's what happens:

1. If the home is sold, the reverse mortgage is repaid from the sale proceeds. If the sale price is less than the loan balance, the FHA mortgage insurance fund pays the difference. Your family does not have to come up with the extra money.
2. If your heirs want to keep the home, federal rules generally allow them to pay the lesser of the loan balance or 95% of the home's current appraised value. This allows them to retain the property without paying more than its current value.
3. Other assets are protected. The lender cannot pursue your savings, investments, or other property to recover any remaining balance.

This protection is one of the most valuable features of an FHA-insured reverse mortgage. It gives homeowners the ability to access their home equity while providing peace of mind that their family will not inherit debt beyond the value of the home.

If you're considering a reverse mortgage, it's important to understand not only how the loan works today, but also how it protects you and your loved ones in the future.

Every homeowner's situation is unique. Reverse mortgages are not right for everyone. I believe the best decisions are informed decisions, and I'm always happy to answer questions without obligation.

Education should always come first.

Douglas M. Jones nmls 286668
Certified Reverse Mortgage Specialist
Mortgage Magic

07/22/2026

Could Your Home Help Support Your Retirement?

07/22/2026

Could a Reverse Mortgage Help You Buy Your Next Home?

Most people think reverse mortgages are only for homeowners who want to tap into the equity in their current home. But did you know that if you are 62 or older, you may be able to purchase your next home using a HECM for Purchase loan?

Here's how it works.

Instead of paying cash for the entire home or taking out a traditional mortgage with required monthly principal and interest payments, you make a substantial down payment (often around 50%, depending on your age and current interest rates). The reverse mortgage finances the rest.

Benefits of a HECM for Purchase:

No required monthly principal and interest payments for as long as you live in the home as your primary residence. (You are still responsible for property taxes, homeowners insurance, HOA dues if applicable, and home maintenance.)

Buy more home. Because you don't have to pay the full purchase price in cash, you may be able to afford a home that better fits your retirement lifestyle.
Preserve your retirement savings. Rather than tying up all your cash in a home purchase, you can keep more of your assets available for healthcare, travel, emergencies, or simply enjoying retirement.

A Few Things to Know

A HECM for Purchase is an FHA-insured loan, so closing costs may be higher than with some traditional mortgages. Like all reverse mortgages, the loan becomes due when the last borrower sells the home, permanently moves out, or passes away.

To qualify, the home must be your primary residence, you must be at least 62 years old, and you must demonstrate the ability to pay your ongoing property taxes, homeowners insurance, and other required property expenses.

For many retirees, a HECM for Purchase can be a smart way to right-size, relocate closer to family, or buy a home that better meets their needs without taking on a required monthly mortgage payment.

Every homeowner's situation is unique. Reverse mortgages are not right for everyone. I believe the best decisions are informed decisions, and I'm always happy to answer questions without obligation.

Education should always come first.

Doug Jones nmls 286668
Mortgage Magic
Certified Reverse Mortgage Specialist

07/21/2026

Consumer Protections Built Into Reverse Mortgages

One of the biggest misconceptions about reverse mortgages is that they are risky or unregulated. The truth is just the opposite.

Today's Home Equity Conversion Mortgage (HECM), the FHA-insured reverse mortgage, is one of the most highly regulated mortgage programs available. Over the years, Congress, the Department of Housing and Urban Development (HUD), and the Federal Housing Administration (FHA) have added numerous consumer protections designed to safeguard homeowners age 62 and older.

Here are some of the important protections every homeowner should know.

1. You Can Never Owe More Than Your Home Is Worth
A reverse mortgage is a non-recourse loan. This means that when the loan becomes due, neither you nor your heirs will ever owe more than the home's value, provided the loan obligations have been met. If the loan balance is greater than the value of the home, FHA mortgage insurance covers the difference.

2. Independent Counseling Is Required
Before anyone can obtain a HECM reverse mortgage, they must complete a counseling session with an independent HUD-approved counselor.

The counselor does not work for the lender. Their job is to explain the costs, benefits, alternatives, and responsibilities so that borrowers can make an informed decision.

3. Multiple Required Disclosures
Borrowers receive detailed disclosures before counseling, during the application process, and again before closing. If important loan terms change, updated disclosures must be provided. The goal is simple: no surprises.

4. No Prepayment Penalty
If you decide to pay off your reverse mortgage early, you can do so at any time without a prepayment penalty. Whether you sell your home, refinance, or simply choose to repay the loan, there is no additional charge for paying it off early.

5. Interest Rate Protections
Reverse mortgages offer either fixed-rate or adjustable-rate options. Adjustable-rate loans include limits, known as caps, that restrict how much interest rates can increase over time.

6. Limits on Origination Fees
HUD places limits on the amount lenders may charge for origination fees. These caps help ensure borrowers are treated fairly and prevent excessive lending costs.

7. Protection for Eligible Non-Borrowing Spouses
In many cases, if one spouse is not listed as a borrower, HUD provides protections that may allow an eligible surviving non-borrowing spouse to remain in the home after the borrowing spouse passes away, as long as program requirements continue to be met.

8. Financial Assessment Helps Protect Borrowers
Today's reverse mortgage includes a financial assessment that reviews a borrower's ability and willingness to continue paying property taxes, homeowners insurance, and other required property expenses.

Rather than making it harder to qualify, this review helps ensure homeowners can comfortably meet their ongoing obligations and remain successful with the loan.

The Bottom Line

A reverse mortgage is not the right solution for everyone. However, for the right homeowner, it can provide financial flexibility while allowing them to remain in the home they love.

The important thing to remember is that today's FHA-insured reverse mortgage includes numerous built-in consumer protections designed to educate borrowers, prevent misunderstandings, and protect homeowners throughout the life of the loan.

If you're curious whether a reverse mortgage could fit your retirement plans or simply want accurate information without any pressure I'd be happy to answer your questions.

Douglas M. Jones NMLS 286668
Certified Reverse Mortgage Specialist
Mortgage Magic