Those who are fortunate enough to still be collecting a paycheck while quarantined or sheltering in place might expect to build up some serious savings. While you work from home, you’re avoiding your usual commuting expenses, and you’re probably saving money by not going to bars, restaurants, and movies, or skipping that vacation to Fiji.…

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Private reverse mortgages that do not involve the Federal Housing Administration (FHA) Home Equity Conversion Mortgage (HECM) program used to be used primarily for those with very high value homes. However, those products have evolved to encompass more utility for homes of lower values, particularly as rules governing HECM proceeds have changed. This is according…

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The coronavirus crisis has heightened financial anxiety and uncertainty. But if buying a home has been part of your life plan, there’s no need to panic. Many Americans will receive stimulus payments in the coming weeks, which could ease some of the burden, and if you’re able, now is still a good time to start…

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There is at least one bright spot for home buyers, sellers, and owners amid the economic mayhem brought on by the novel coronavirus. Mortgage interest rates have fallen to a new record low, a boon to homeowners who may want to refinance and save money, and buyers (if anyone feels like buying a home right…

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Maintaining enough income in retirement is an ongoing issue for many American seniors, and finding effective methods to maintain or bolster senior finances becomes a major concern. One such proven way to boost retirement income is by employing a reverse mortgage, particularly since it requires no monthly payments. This is according to financial columnist Selena…

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Between low mortgage interest rates and the coronavirus pandemic sending our economy in a tailspin, many people have recently rushed to refinance their mortgages. But as we all know, haste makes waste—and many of those eager homeowners made mistakes that could cost them tons of money in the long run. So if you’re tempted to…

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Tapping home equity is often an overlooked possible source of income for those with fixed resources, and considering the home equity that seniors have access to, reverse mortgage products should be considered when coming up with a retirement funding plan. This is according to Stephen Resch, VP of retirement strategies at Finance of America Reverse…

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Have you wondered if downsizing your home could be a smart financial move? Maybe you’re already planning to downsize and you want to make sure it pays off. Downsizing definitely has the potential to be a smart move financially, but how you downsize makes all the difference. That’s why we’ve gathered these resources to help…

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14.5 million residential properties in the United States are considered equity-rich, based on data which indicates that the combined estimated amount of loans secured by those properties was 50% or less of their estimated market value. The count of equity-rich properties in the fourth quarter of 2019 represented 26.7% (a little over one in four)…

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Worries about coronavirus have battered stocks and sent investors fleeing to the safety of U.S. government debt. On Friday, the yield on the 10-year Treasury note fell below 0.7% for the first time. Earlier this week, the Federal Reserve cut its benchmark rate to a range between 1% and 1.25%. Mortgage rates are expected to…

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