Posts Tagged ‘savings’
Kiplinger: Why Retirees Should Consider Using a Reverse Mortgage for Cash Flow
Retiring without having to make regular mortgage payments is a big dream for many retirees, but is becoming increasingly unattainable for many Americans looking to transition out of work. This is one of the core reasons why home equity broadly – and reverse mortgages specifically – could be a viable option for a senior looking…
Read MoreAP: Reverse Mortgage an Option for Seniors Suddenly in Retirement
An increasing number of unemployed people who identify themselves as “retired” have been thrown out of work due to the ongoing economic impacts of the COVID-19 coronavirus pandemic. For those who find themselves suddenly in retirement, it’s important to find options which can assist with cash flow, and in some cases this can include a…
Read MoreCan you refinance a mortgage while in forbearance?
On March 27, 2020, the federal government approved the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion relief package aimed to provide immediate help to families, small businesses, workers and homeowners. Millions of homeowners took advantage of the CARES Act’s forbearance provision. The term mortgage forbearance refers to a repayment plan that…
Read MoreReverse Mortgage an Option for Seniors Suddenly in Retirement
An increasing number of unemployed people who identify themselves as “retired” have been thrown out of work due to the ongoing economic impacts of the COVID-19 coronavirus pandemic. For those who find themselves suddenly in retirement, it’s important to find options which can assist with cash flow, and in some cases this can include a…
Read More5 Speedy Ways to Come Up With a Down Payment
The best way for first-time home buyers to come up with a down payment for a home: save for one, of course! But sometimes you’re in a hurry. Maybe your dream house just popped up on the market, or you’ve simply had it with being a renter. Whatever the reason, you’re ready to buy a…
Read MoreU.S. News: Things to Consider Before Getting a Reverse Mortgage
Reverse mortgages can serve as a potential path for older Americans to gain access to additional cash in retirement, but there are several considerations a retiree should make before applying that are both pros and cons. This is according to a new column published this week in U.S. News & World Report. A primary advantage…
Read More7 Ways to Earn Supplemental Income During Retirement
While some people have enough money in their retirement savings to allow them to live very comfortably in their golden years, many seniors find themselves in a position where they could use a little extra income. If you’re looking for supplemental income in your retirement, we have seven ways to pad your wallet. If you…
Read MoreCNBC: Reverse Mortgages Can Help Seniors Retire Where They Want
Making the decision about where and how to spend retirement can be difficult for many American seniors, often dictated by the amount of resources a retiree has access to. One of these decisions can involve either moving — into a new home or an assisted living facility at the appropriate time — or choosing to…
Read MoreHow to Protect Your Finances After Losing Your Job
Losing your job is tough. While it can be tempting to dip into your long-term savings to cover your immediate expenses, this can be a bad idea — especially if you’re nearing retirement. Fortunately, there are many other ways to pay the bills and set yourself up for a successful future, like working with Carefree…
Read MoreMortgage Professor: How to Use a Reverse Mortgage to Avoid Poverty
For someone who has used existing assets to pay off an existing mortgage on their home, the use of a reverse mortgage line of credit would be an effective way to prepare for a person’s older years and to avoid premature exhaustion of assets, which can lead to poverty. This is according to Jack Guttentag,…
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