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Reverse mortgage pros and cons experts say to know in today’s economy. Moneywatch. CBS.
Reverse mortgages can be a useful tool for seniors, but there are a few things experts say you should know now.While inflation is down from a year ago, it has recently started to creep back upward again. When you throw in high interest rates and declining wage growth, many Americans are feeling the financial burn.…
Read MoreHere are the 6 levels of wealth for retirement-age Americans — are you at the top or bottom of the pyramida.
If you’re planning your own retirement, you probably have a retirement savings goal in mind. Americans believe the “magic number” they need to retire comfortably is $1.26 million, according to a survey by Northwestern Mutual. Comparing your number with the actual net worth of retirement age American seniors should give you an idea of how…
Read MoreWhat Is a Reverse Mortgage and How Does It Work? (2024 Guide)
What Is a Reverse Mortgage and How Does It Work? (2024 Guide) Living comfortably in retirement has long been financially challenging for seniors in the U.S. To cover increased expenses, many turn to the equity in their homes to increase their financial breathing room. One-way seniors can tap into home equity with a special type…
Read MoreReverse Mortgage pros and cons
Newsweek turns eye toward reverse mortgage pros and cons The new column examines potential strengths and weaknesses of reverse mortgages, according to a team judged to be financial experts A reverse mortgage has potential utility for a homeowner in the right situation, but loan terms must be observed closely to remain in good standing and…
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