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. […]
More Americans are splitting after 50. Financial planning tips for a ‘gray divorce’
The divorce rate has doubled since 1990 for Americans over 55. For couples over 65, the rate has tripled. And in financial terms, few “gray […]
I’m a Real Estate Agent: Here Are the 8 Best Ways To Fund Your Renovations During Retirement
You’ve decided you want to stay long-term in your current home, and perhaps even make it your “forever home.” But to make aging in place […]
Beyond the Basics: 10 Powerful Benefits of Reverse Mortgages You Didn’t Know About
Unlocking more than just cash and explore the unexpected advantages of reverse mortgages for a secure retirement What would retirement be like if you didn’t […]
Unlocking financial freedom: How home equity release is transforming retirement planning in America
Over the last few years, the financial landscape has undergone a major shift, with the cost of living crisis casting a shadow on the traditional notions […]
HELOCs only add to the problem
Core Logic reports that the average homeowner is sitting on about $300,000 in equity. A tidy sum for most whose home represents their largest asset. […]
Why equity-tapping challenges may make reverse mortgages ‘inevitable’
Tapping into home equity, particularly for people in or near retirement, can be challenging — especially for those who may have a pressing need. Traditional equity-tapping methods […]
When is a reverse mortgage the best home equity option? Experts weigh in
Inflation continues to strain the economy and American household budgets with higher prices at the gas pump, grocery store and other everyday purchases. As a result, […]