Posts Tagged ‘Mortgages’
5 Myths About Reverse Mortgages
When seniors need to free up cash, they often look to their retirement plans. Many don’t even consider tapping into the value of their homes – a feat easily achieved through the use of a reverse mortgage. A reverse mortgage is a loan that allows homeowners aged 62 and older to convert part of the…
Read MoreHow Reverse Mortgages Can Save Retirement
One of the biggest assets seniors have is their home, and in some situations those who are facing challenges in retirement may be able to live a bit more comfortably by tapping into their home equity, explains a recent article from U.S. News & World Report. Using a home as a retirement fund is one…
Read MoreHow To Stay Sharp As You Age
So you’ve noticed some changes in your thinking; you often misplace your keys or have trouble coming up with the right word in conversations. But how do you know when these changes are a normal part of getting older or if they might be pointing to a health problem such as dementia? How the Brain…
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 MoreMore Steps Per Day, Lowered Odds for Diabetes in Women
Move your body every day to guard against type 2 diabetes. That’s the upshot of a new study that analyzed Fitbit data and type 2 diabetes rates from participants in a nationwide research program, reporting that women who logged more steps each day had a lower risk of diabetes. “We investigated the relationship between physical…
Read MoreWhy High Senior Equity Makes It a Good Time For Home Modifications
Earlier this summer, homeowners aged 62 and older saw their collective housing wealth increase in Q1 2022 by approximately $520 billion to a record of $11.12 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. Such historic levels of home equity may mean that…
Read MoreHow Often Can You Refinance a Home Loan? More Than You Might Think
Homeowners with a mortgage often hear about the benefits of refinancing—to snag a lower interest rate, reduce their monthly loan payments, and tap into their home equity. The list of advantages is long and enticing. But if you’ve recently refinanced but have seen interest rates drop even further—or start creeping up—you might wonder if you…
Read MoreRaising the Roof: Here Are the 10 Cities Building the Most Homes for Buyers
As we enter Year Two of the coronavirus pandemic, home buyers seeking more space or a sanctuary of their own are struggling to find properties for sale. The number of listings for available homes is about half of what it was a year ago—and pickings were slim even then. Like it or not, it’s the…
Read MoreForbes: Reverse Mortgages Can Help Seniors Pay Down Debt in Retirement
One often overlooked tactic that seniors can employ when seeking to pay down outstanding debt in retirement is the strategic use of a reverse mortgage loan, one of several options that an older American can use when examining their finances during their post-working years. This is according to contributor Bob Sullivan and editor John Schmidt…
Read MoreCOVID-19 Completely Transformed the Way We Buy Homes—but Will It Stick?
Remember lazy Sunday afternoons when home buyers could leisurely hop from open house to open house, partaking of wine and cheese laid out to reel in more foot traffic—the more the merrier. Much can change in a year. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic, triggering a wave of lockdowns…
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