Posts Tagged ‘income’
Motley Fool: Reverse Mortgage a ‘Proven’ Way to Boost Retirement Income
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…
Read More6 Refinancing Mistakes Homeowners Risk Making Right Now
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…
Read MoreMarketWatch: How Reverse Mortgages Can Provide Retirement Income
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…
Read MoreTips and Tricks to Make Downsizing Easier (And More Lucrative) for Seniors
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…
Read MoreAmericans 4 Times More Likely to Be Equity-Rich as Home Values Increase
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)…
Read MoreIs It Time to Refinance Your Mortgage?
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…
Read MoreForbes: Reverse Mortgages Can Help Pay for Long-Term Care
Because there are notable gaps in the coverage of long-term care (LTC) services in the Medicare program, one possible path to funding such services could be through the use of a reverse mortgage. This is according to Diane Omdahl, a former technical expert for the Centers for Medicare and Medicaid Services (CMS) and a Medicare…
Read MoreHow to Get Out of Debt in 2020
For many, paying off debt can feel like an insurmountable task. The most common types of debt for Americans include mortgage debt, student loans, auto loans and credit-card balances. Debt can dent one’s ability to save for retirement, may hamper homeownership and impede overall future financial security. While some may be tempted to ignore debt…
Read MoreFinancial Planner: Reverse Mortgages Can Offer Path to Retirement ‘Paycheck’
Managing finances in retirement can be difficult for a senior, most especially if someone is already strapped for cash. That makes the possibility of regular cash flow in addition to pre-existing benefit programs very attractive, and reverse mortgages can offer some seniors a viable path toward just such a path. This is according to a…
Read MoreFinancial Planner: Reverse Mortgages Can Offer Path to Retirement ‘Paycheck’
Managing finances in retirement can be difficult for a senior, most especially if someone is already strapped for cash. That makes the possibility of regular cash flow in addition to pre-existing benefit programs very attractive, and reverse mortgages can offer some seniors a viable path toward just such a path. This is according to a…
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