Posts Tagged ‘equity’
Deciding if a Reverse Mortgage Makes Sense for You
A reverse mortgage, specifically a federal government-sponsored Home Equity Conversion Mortgage (HECM), has a lot of moving parts that may make the product concept intimidating for some people. For those who are looking for alternative ways to try and create more cash flow in retirement, there are clear benefits as well as some inherent complexities…
Read MoreOwn a Rental Property? Why Filing Your Taxes This Year Rules
My husband and I recently purchased our first rental property. Over the past few months, we’ve repaired and renovated the 1930s-era home, and are starting to look for tenants. And it turns out, our timing couldn’t be better: The Tax Cuts and Jobs Act made several changes for rental property owners that portend a more…
Read MoreHome Prices Are Falling in These Cities—While They’re Rising Just About Everywhere Else
Everyone by now has some familiarity with America’s daunting pandemic-era real estate math: Take an all-consuming demand for new homes and bigger spaces, add in low mortgage rates and historically paltry inventory levels, and it all equals home prices that are skyrocketing to unheard of heights. And it seems to be happening just about everywhere.…
Read MoreUSA Today: Reverse Mortgage Could Help Retirees Avoid Exhausting Funds
The judicious use of a reverse mortgage has the potential to aid those at or near retirement in avoiding exhausting their financial resources while on a fixed income, something that is likely of particular interest to those who are concerned of outliving their resources well after they’ve retired from a career. This is according to…
Read More5 Sweet Tax Deductions When Selling a Home: Did You Take Them All?
You may be wondering if there are tax deductions when selling a home. And the answer is: You bet! Sure, you may remember way back to 2018 and its new tax code—aka the Tax Cuts and Jobs Act—changed some rules for homeowners. But rest assured that if you sold your home in 2020 (or are…
Read MoreWhat People Over 50, Short on Retirement Savings Should Do to Prepare
If someone is over the age of 50 with less than $100,000 in retirement savings to his or her name, then there are a few key things that person should be doing to make sure that retirement will not be a burden when it comes in the next 10-15 years. These include determining a realistic…
Read MoreDid You Skip Mortgage Payments Last Year? Here’s What That Means for Your Taxes
Amid the economic turmoil caused by the coronavirus pandemic, millions of Americans opted to pause their monthly mortgage payments. That choice could have implications for their taxes this year — and in years to come. In March, as COVID-19 began to wreak havoc on the job market and caused millions of Americans to lose their…
Read MoreHousing Experts: Reverse Mortgages Well Suited to Address Aging in Place Issues
The reverse mortgage program can be a very valuable tool for addressing issues related to aging in place in the United States, as well as circumventing some problems related to the spread of COVID-19 in senior housing and nursing facilities. However, some issues including the volatility for the Federal Housing Administration and various servicing problems…
Read MoreAtypical Work in Retirement Could Help Seniors Prolong Careers, Increase Retirement Security
For seniors who are not quite ready to stop working once they reach a traditional retirement age, nontraditional work could help them to prolong their careers with more flexible hours and less stress, even though such work typically comes without benefits like healthcare coverage and retirement benefits. This is according to a research brief published…
Read More7 Tax Benefits of Owning a Home: A Complete Guide for Filing This Year
What are the tax benefits of owning a home? Plenty of homeowners are asking themselves this right around now as they prepare to file their taxes. You may recall the Tax Cuts and Jobs Act—the most substantial overhaul to the U.S. tax code in more than 30 years—went into effect on Jan. 1, 2018. The…
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