A recent survey from the American Advisors Group found that 74% of adult children of baby boomer parents prefer that their parents retire and age in their own homes—this to relieve the financial and emotional pressures stemming from elder care and growing retirement insecurity. Staying in your home as you age allows you to stay…

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A lien is not something many people are personally familiar with, yet it’s a term that all homebuyers, homeowners, and home sellers should know. A lien is a legal notice that’s placed on house as a consequence of an unpaid debt. If you haven’t paid your real estate taxes, for example, the government might impose…

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Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years. According to data from Statista,…

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Is vaping finally losing its coolness for American teens? The latest tally of federal data finds that 550,000 school kids, mostly high schoolers, quit using e-cigarettes in 2024. Vaping rates fell from 10% of high school students in 2023 to 7.8% this year, “reaching the lowest level ever measured” by the National Youth Tobacco Survey,…

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Baby boomers are a key constituency for the reverse mortgage industry since they are currently the generation with the largest share of the population at or above the age of 62. A recent SmartAsset analysis of 2023 Home Mortgage Disclosure Act (HMDA) pinpointed where boomers are most active within the U.S. housing market. “Retirement often…

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Retirement savers experienced their third consecutive quarter of growth in Q2 2024, with Gen X savers showing strong gains in individual retirement arrangements (IRAs), a sign of progress considering that cohort’s prior struggles with saving for life after work. This is according to a report released by Fidelity Investments, based on 401(k) and 403(b) data…

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Let’s examine a few of the best times to consider getting a reverse mortgage. When you don’t have enough income to pay your bills Many seniors have significant equity in their homes after paying down their mortgage over time, especially if home values have increased. Unfortunately, many of these same seniors struggle to meet monthly…

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If you need a mortgage, a good credit score, also called a FICO score, is essential—and it’s within your control. In a nutshell, a credit score is a simplified calculation of your history of paying back debts and making regular payments on loans. If you’re borrowing money to buy a home, lenders want to know…

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A recent New York Times article offers a concise 5-year countdown-to-retirement plan, with the final year of the timeline being the time to –cautiously – consider a reverse mortgage. Offered as a way to make ends meet if you’re planning to stay in your current home, reverse mortgages are a “fourth- or fifth-tier line of…

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Memorial Day means firing up that backyard grill for the season, hopefully under warm, sunny skies. You can be sure to enjoy the day without hazards by taking a few simple precautions, said Dr. Mike Ren, an associate professor of family and community medicine at Baylor College of Medicine in Houston. Watch out for rising…

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