Advertisement If there’s one thing that can upend retirement plans, it’s a recession which an increasing consensus of economists are predicting for the US economy. […]
More seniors turning to reverse mortgages amid Louisiana’s insurance crisis
THE SAME CAN BE SAID FOR FLORIDA !!! NEW ORLEANS (WVUE) – With property insurance costs in Louisiana spiraling out of control, seniors are increasingly […]
What is a reverse mortgage, and how does it work?
If you’re 62 years or older, you might be eligible for a reverse mortgage. These types of mortgages aren’t for everyone, since they take equity out of […]
Would a Reverse Mortgage Work for You in a Gray Divorce?
Editor’s note: This is part seven of an ongoing series throughout this year focused on helping older adults navigate the financial difficulties of gray divorce. […]
Half of American boomers risk running out of money in retirement — here are 3 ways to stick it to that stat
Listen Baby boomers may be in trouble when it comes to retirement. A recent Morningstar study found that 52% of Boomers risk running out of money during […]
44% of Homeowners 62 and older still have a mortgage
According to the most recent data, about 44% of Americans aged 62 and older still have a mortgage payment. This percentage has increased over the […]
Why More Older Mortgage Applicants Are Denied Credit
Three Reasons Older Mortgage Applicants are Denied Many Americans jumped on the opportunity to harvest some of their home equity as values skyrocketed in the […]
7 Reasons to Use Home Equity
Due to persistent inflation over the past few years, borrowing costs are at record levels. The average interest rate on credit cards assessed interest is […]
We’re in our mid-50s and planning to retire soon. We have $2 million saved. How can we extract income from our $900,000 home?
‘We have no children or heirs, and have no one to leave our estate to other than charitable causes’ Dear Big Move, We’re a couple […]
The Retirement Double-Whammy
Numbers don’t lie. Liars use numbers. While that may seem harsh the media’s constant mantra of ‘we only have three percent inflation’ has left many […]
The best ways to use home equity to fund retirement, according to experts
Over the past few years, home equity levels have increased substantially nationwide. In fact, as of the first quarter of 2024, the average homeowner had seen their […]
10 Things You Should Know About Reverse Mortgages
“It’s a personal financial management tool that enables homeowners to convert the home equity into loan proceeds,” says Steve Irwin, president of the National Reverse Mortgage Lenders Association. […]
Swapping Debt May Benefit Older Americans
When swapping debt makes sense in retirement Managing debt is challenging at any stage of life, but it becomes particularly burdensome for older adults who […]
Using a Reverse mortgage to renovate your home without having to make a monthly mortgage payment.
Renovating a home to age in place can be the silver lining among the increased health risks and residential hazards that afflict homeowners in their golden years. Most baby boomers — […]
My Struggling 73-Year-Old Dad Owes $45,000 On His Mortgage And $15,000 On A HELOC’ — Should He Sell Or Take Out A Reverse Mortgage?
In the personal finance subreddit, a user sought advice on a common dilemma many seniors face: selling their home or taking out a reverse mortgage. […]