News & Insights
Refinancing your mortgage? 5 questions you should ask first
U.S. homeowners are on a refinancing binge in 2020, with mortgage refinance rates up by 98% from mid-November 2019 to the same period in 2020, according to the Mortgage Bankers Association (MBA). The average mortgage refinance amount stood at $291,000 for the week ending November 13, 2020, the MBA reported. If you’re considering refinancing your…
Read MoreL.A. Times: Reverse Mortgage an Option After Pandemic Job Loss
A reverse mortgage is one possible option for a person aged 62 or older who has experienced a job loss as a result of the COVID-19 coronavirus pandemic, but the viability of the option is highly dependent on the individual situation of the senior in question. This is according to Liz Weston, a certified financial…
Read MoreWhat Mortgage Down Payment Do You Need? A First-Time Borrower’s Guide
Ask most people about the biggest obstacle to buying a home, and hands down, they’ll say it’s scraping together enough money for a down payment and closing costs. But understand a key point: This is not a separate and distinct issue from landing a mortgage. Lenders, after all, like to see clients lay down a…
Read MoreForbes: Home Equity Can Help Solve the Retirement Crisis
As the United States continues to endure a retirement crisis that has only been exacerbated by the COVID-19 coronavirus pandemic, the home is an asset with continuously understated potential to assist with cash flow for retirees. This is especially true considering that the home is likely to be the largest asset that the majority of…
Read More5 Things Every First-Time Home Buyer Needs to Know
Here’s what every first-time home buyer needs to know to dive into house hunting with confidence—and with as few curveballs as possible. Whether it’s getting a mortgage, choosing a real estate agent, shopping for a home, or making a down payment, we lay out the must-knows of buying for the first time below. 1. How…
Read MoreWashington Post: Reverse Mortgage a Possible Option for ‘Underwater’ Homeowner
For a senior struggling with their home due to their mortgage being “underwater” — defined as the mortgage balance on a home exceeding its fair market value — a reverse mortgage could present a potentially viable option to unlock a home’s equity compared with other available options. This is according to reporters Ilyce Glink and…
Read MoreFor Many Seniors, the Home is ‘Unexpected’ Retirement Funding Source
For seniors across America, considering how to fund retirement if existing assets are insufficient can be an exercise in creative thinking resulting in expanding the canvas of thinking to encompass a broader range of potential options. For many seniors who are also homeowners, thinking of the home as a potential source of retirement funding is…
Read MoreDoes Hard Work Help Preserve the Brain?
Physical activity is known to help prevent dementia and disease, but it’s possible that the kind you do makes a difference. A new study found that hard physical work not only doesn’t lower the risk of dementia, it increases the risk of developing the disease. Researchers found that people who do hard physical work have…
Read MoreReverse Mortgage LOC Can Help Seniors Endure Financial Turbulence
For those Americans over the age of 62 who have recently seen the values of their retirement accounts shaken by the ongoing effects of the COVID-19 coronavirus pandemic, the ability for a reverse mortgage to take some pressure off of individuals and their accounts should not be overlooked. This is according to a column appearing…
Read MoreBudgeting Tips to Help Make the Most of Your Fixed Income
Here at Carefree Retirement Funding, we know many seniors live on a fixed income and need to be careful to make ends meet. However, there’s a misconception that you can’t live life to the fullest when you’re on a fixed income. By budgeting and adjusting your spending, you might be able to save more money…
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