Seniors are given a way to make full use of their home equity through a reverse mortgage so they can finance their retirement. With many people living a lot longer, a reverse mortgage loan can serve as an income in case their retirement savings can not cover all of their living expenses.… Read More
(While this article was written to explain current interest rate increases in the “traditional or forward” mortgage-backed securities market, the same principal holds true with interest rate increases with the “reverse” mortgage-backed securities market.)
With the economy in near shambles, layoffs becoming widespread, and more of the country under orders to shelter in place to stem the spread of the coronavirus pandemic, historically low mortgage interest rates were one financial bright spot.… Read More
Reverse mortgages are becoming increasingly popular among seniors. Thanks to the HECM program, the elderly who are on their retirement years can tap into their home equity and turn it into a source of income which they will receive every month without having to worry about moving out of their homes.… Read More
Older people have a higher risk of becoming severely ill if they get infected with the coronavirus. Generally speaking, it says nobody above 65 years old is considered to be an older person however, there’s no defined definition as people tend to age at varying rates.… Read More
Regardless of your age, retirement planning can be quite a challenge. But, there are ways to help you prepare for those golden years. Listed below are retirement planning tips for all those who are currently in their mid-60s.
There was a time when 65 years old was the common age for retirement.… Read More
Seniors who need extra cash or income to cover unexpected expenses can borrow against their home equity and get a loan that is known as a reverse mortgage. For those who plan to put their houses in living trusts or those with one already, the path to getting this loan would be a bit rockier.… Read More
Some people say that parents don’t need to save up for their kids’ college education. There are college loans to help them but their parents can’t find a loan that will help them live a comfortable life after retirement. But, wait for a second.… Read More
- Fear surrounding the global spread of the coronavirus, and its resulting economic impact, led to the worst week for U.S. stocks since the 2008 financial crisis.
- Near-retirees with their savings in a mutual fund tracking the S&P 500, Dow Jones or Nasdaq market indexes saw their retirement wealth decrease by more than 10% last week.
If there is one concern that is quite common with a reverse mortgage, it’s if the benefits will be affected once the loan is received. If you are the borrower, will your Medicare, Social Security, or pension be affected once you take out a reverse mortgage?… Read More
Experts always tell parents who are worried that they don’t have any savings for their retirement and kid’s college education to consider their needs first. What these professionals usually tell their clients is that their children can borrow for college but they can’t borrow for their retirement.… Read More