Everything to know about reverse mortgages

Everything to know about reverse mortgages BY ALY YALE. CBS NEWS.If you’re struggling with the rising costs of inflation, tapping your home equity may provide some relief.If you’re struggling with the rising costs of inflation, tapping your home equity may provide some relief. With products like cash-out refinances, home equity loans or HELOCs, you can…

Many Middle-Income Seniors Will Not Be Able to Pay for Long-Term Care and Housing in 10 Years Total Number of Middle-Income Seniors Expected to Grow by 89 Percent by 2033 CHICAGO, August 31, 2022 – By 2033, more than 11 million middle-income seniors aged 75 and older may not be able to pay for assisted living and…

If You Need Cash in Retirement. Retirement & Financial Planning Report. FEDWEEK Reverse mortgages allow homeowners to tap home equity even if they can’t sell their home; this can supplement retirement funds. While hopefully your plan for funding your retirement will provide what you need, you may find that you have needs for cash that…

Can a Retired Person get a Mortgage? Every person takes a different life path. You hear of older or retired individuals getting married or enrolling in college all the time. Age doesn’t preclude enjoying the perks of home ownership, either. There is no age restriction for getting a mortgage, according to the Equal Credit Opportunity…

Think you can’t buy a house if you are an older adult, or self-employed? It might be possible. ‘There is a misconception that older adults cannot obtain a mortgage.’ How I bought my first house in my 60s I wanted to buy a house of my own. After several years filled with changes in location,…

Workers Say Inflation Is Now the No. 1 Obstacle to a Comfortable Retirement Hoping to retire, crack open a book and relax on the beach sometime soon? Not so fast. The soaring prices you’re seeing at the grocery store, gas pump and — well, everywhere, really — may complicate things. Inflation is now the top obstacle standing in the way of…

Reverse Mortgages Explained? A reverse mortgage can be a helpful type of home loan for retirees looking to tap into their home equity and cover their day-to-day costs during retirement. Q: My wife and I recently retired and are finally getting around to some much-needed home renovations. We don’t want to drain our retirement fund…

Half of Americans Without Retirement Plans at Work Nearly half of workers in the U.S. do not have access to retirement plans at work, according to a new AARP study. Nearly 57 million people — 48% of American private sector employees ages 18 to 64 — work for an employer that does not offer either…

Should I sell and rent or get a reverse mortgage? I found this great article I wanted to share comparing all senior housing options. What to consider before selling your home or getting a reverse mortgage. The math reveals the real costs for retirees. A woman in her 80s is sitting on her couch at…

Comfortable Reirement – Improve YOUR retirement with NO monthly mortgage payments Imagine an opportunity that would provide you with significant net/non-taxable funds to use for any purpose that you may desire, with no mortgage payments ever required on any available monies used! Many retirees are learning how to maximize their golden years and take advantage…