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Tag Archives: Myrtle Beach reverse mortgage

What Are The Tax Implications Of A Reverse Mortgage

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reverse mortgageA reverse mortgage is a special kind of home loan that is designed to let homeowners who are at least 62 years old to access a part of their home’s equity. It’s referred to as a reverse mortgage because the lender pays the borrower, instead of the other way around.… Read More

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CNBC – Here’s why the coronavirus may clobber your retirement plans

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reverse mortgage incomeKey Points

  • 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.
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Reverse Mortgage: What Are The Requirements and How Much Can You Borrow?

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reverse mortgageThe requirements for you to be eligible for a reverse mortgage loan vary depending on the lender and the kind of loan. Here are the requirements set by HECMs.

 

  1. You must be at least 62 years old, even if you are disabled or retired.
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Common Misconceptions About Reverse Mortgages

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reverse mortgageJust like several positive feedbacks, there are many misconceptions about reverse mortgages. This isn’t surprising because this financial program involves giving a monthly cash flow along with a monthly retirement income to a qualified senior citizen who is at least 62 years old.… Read More

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