By Donna Fuscaldo
The economic storm that rocked many baby boomers’ nest eggs has left many of them considering a reverse mortgage as part of their.
Reverse mortgages allow homeowners who have reached age 62 or older to draw down on their home’s equity in exchange for cash.… Read MoreRead More
By Steve Vernon
Americans aged 62 and older had accumulated $3.19 trillion in home equity by the end of the third quarter of 2011, according to data recently released by the National Reverse Mortgage Lenders Association (NRMLA). During the same quarter, home equity increased by $46 billion, reflecting stabilization and improvement in home prices.… Read MoreRead More
One way to boost your income in retirement is to let the bank send you a monthly check. With a , you borrow against the equity in your home (receiving funds each month, in a lump sum, or with a line of credit) and don’t repay the loan until you die, sell, or move out for good.… Read MoreRead More