Posts Tagged ‘home equity’
One in Three U.S. Households Will be 65+ By 2035
The statistics about the waves of baby boomers turning 65 each day are old news to anyone who works in a senior-focused industry. But a new report from Harvard University adds a new twist to measuring the coming wave of American seniors: In 2035, households with members aged 65 and older will account for a…
Read MoreInside the Reasons Why Seniors Choose the HECM for Purchase
Lifestyle, ease of upkeep, and proximity to family are main criteria for seniors who choose a Home Equity Conversion Mortgage for Purchase loan, many originators agreed. Christina Harmes, assistant manager for C2 Reverse in San Diego, said she has clients looking to upsize, downsize, move to the city or relocate to the country, but most…
Read MoreReverse Mortgages Help Curb Retirement Risk for Divorced Women
Reverse mortgages have been increasingly pitched as a way to stave off the effects of so-called “gray divorce,” and a new research brief shows just how a split can put both parties’ retirement futures at risk — and how home equity benefits one demographic in particular. Households in which at least one party had previously…
Read MoreWhy Today’s Seniors Are Primed to Tap Home Equity for Retirement
Rising household wealth held by older adults in recent years have put today’s seniors in a better position to tap home equity for retirement purposes. But increasing housing debt among this population could hinder their ability to use home equity to improve retirement security in the future, according to new research from the Urban Institute.…
Read MoreShould You Retire On Your House?
Many American households will face a significant retirement financing gap unless they save more, invest more efficiently, retire later, and/or distribute their retirement assets more efficiently. Yet the pain of such difficult behavioral changes might be mitigated by better use of an asset that almost 80 percent of retirees have: the family home. The Reverse…
Read MoreU.S. Home Equity Increased by $908 Billion in 2017
The overall amount of home equity controlled by U.S. homeowners ballooned by 12.2% in 2017 — a gain of $908.4 billion in just 12 months. That works out to about $15,000 per homeowner, according to the most recent home equity report from real estate analysis firm CoreLogic. But as has been the case for some…
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