How to use home equity

How to use home equity while prices are still high There are multiple ways to borrow home equity that owners should be aware of. Inflation and spiking interest rates continue to plague Americans. The benchmark rate for interest rates now ranges from 5% to 5.25%, a 15-year high. The effect of the Federal Reserve’s aggressive rate hike schedule…

Fed rate hikes and default fears: Here’s what could be next for the housing market Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming…

A “shocking” reality for U.S. moms: Half have no retirement savings On Mother’s Day, the best gift for your mom might be a contribution to her 401(k) or IRA plan, with research revealing a significant gap between moms and dads in financial preparedness for retirement. About half of mothers across the U.S. have zero dollars…

For some older homeowners, a reverse mortgage could be a smart and easy way to access cash. As the U.S. copes with a potential recession and ongoing inflation, many Americans are examining their budgets to see how they can muster up some extra cash. For homeowners who are at least 62, one place may be…

Florida Retirees Relocating: Here’s Where They’re Going Instead Once thought of as the ideal place to live out one’s golden years, Florida is quickly losing favor with retirees. Remote workers and the wealthy are flocking to the state and driving up home prices, leaving those on a fixed income feeling the pinch. In just half a decade,…

What is a Reverse mortgage With the average monthly Social Security check a scant $1,693.88 in 2023, many seniors struggle to find ways to survive in the face of rising inflation. In an effort to increase their incomes and remain in their homes, some turn to tapping the equity they’ve accrued in those homes, via a special form…

Foreclosures are up. But is the housing market headed for a crash? Foreclosure notices ticked up nationwide in the first quarter of the year with more than 65,000 properties beginning to go through the process. There were 36,617 new filings in March, which marks the 23rd consecutive month with a year-over-year increase in foreclosure activity, according…

Housing economist predicts home prices to drop 10% this year I found this great article today by Milken Institute Global Conference 2023: Bank stress, rate hikes, recession threats. I wanted to bring it to my news and blogs for my customers information. Housing values will drop by double digits this year, one expert is predicting,…

Americans could see promised Social Security benefits cut by 27% in just 10 years — 3 smart strategies for tapping into your benefits. Americans could see promised Social Security benefits cut by 27% in just 10 years — 3 smart strategies for tapping into your benefits Possible cuts of up to 27% to Social Security…

Why is everyone so worried about retirement? Confidence has dropped to 2008 levels. Workers and retirees have grown much gloomier about their retirement prospects. Will their bleakness last? Trouble ahead? Financial stress is rising among workers and retirees. In April 2022, when I looked through the 2022 annual Employee Benefit Research Institute (EBRI) Retirement Confidence Survey, I felt…