VA Mortgages Will Get Cheaper
VA Mortgages Will Get Cheaper In April, Just In Time For Homebuying Season Some mortgages backed by the U.S. Department of Veterans Affairs (VA) will cost a little less this spring, thanks to a reduction in one of the mandatory closing costs. Beginning on April 7, the VA funding fee—a required fee for nearly all…
Read MoreVA Benefits
VA Benefits for Veterans and Their Caregivers What Is the VA?The U.S. Department of Veterans Affairs (VA) is an agency that provides benefits for military veterans and their families. The VA is composed of three main divisions that administer different programs and services: The Veterans Benefits Administration The Veterans Health Administration The National Cemetery Administration…
Read MoreUsing a Reverse Mortgage to Pay Off Debt
Using a Reverse Mortgage to Pay Off Debt For homeowners 62 and older who have accumulated debts that create a financial strain, there’s another option beside traditional home equity loans or home equity lines of credit. It’s a reverse mortgage. You’ve probably seen TV commercials about it, but you may not understand exactly what reverse…
Read MoreUse Home Equity to Age in Place
Use Home Equity to Age in Place Advice from our webinar on reverse mortgages, home equity lines and refinances. A new Bankrate survey says 62 percent of homeowners never plan to move. If you’re one of those who’ll be aging in place, you may be considering using your home equity to help do it, by…
Read MoreUse Home Equity
Use Home Equity. A smart way for seniors to tap home equity. By KATHY KRISTOF CBS MONEYWATCH Mississippi retiree Richard Blackmon couldn’t fathom leaving the three-acre compound that he calls home. But debts that built up during his working years were draining his bank account and leaving him increasingly stressed about money. When he saw an…
Read MoreUse a Reverse Mortgage Purchase to buy a house.
Peter is 75 years old and is beginning to struggle to pay for and maintain his existing $750,000 home. So, he was planning on selling that home, netting about $500,000, and using the proceeds to pay cash for a new $500,000 home in a maintenance-free senior community.· His only income is his $3,500 a month…
Read MoreUS foreclosure filings
US foreclosure filings jump 22%, and repossessions hit highest level in 3 years. Luxury single-family homes in the top 20 US markets and with modest footprints between 2,500 and 3,500 square feet sold 18.6% faster between April and August 2022 than big homes between 4,500 and 5,000 square feet, according to a report by Coldwell…
Read MoreUnplug from Caregiving
How to “Unplug” from Caregiving I have worked with more power of attorneys, conservator ships, in home care companies than I could count and I thought I was the expert. Then I was on the other side of the fence, and found out there is so much more than funding in home care. My mom…
Read MoreUnderutilized retirement strategy
Underutilized retirement strategy Underutilized retirement strategy. Across the nation, thousands of seniors have used a Home Equity Conversion Mortgage (HECM), commonly called a reverse mortgage loan, as savvy way to access the equity in their homes as part of their retirement strategy. But it still remains an underutilized retirement strategy with less than 10% of…
Read MoreUnderstanding the 60% Reverse Mortgage Rule: 5 Key Takeaways. Yahoo.com and Realtor.com
The Realtor.com Team.Mon, August 25, 2025 at 1:18 PM CDT1 min read When considering a reverse mortgage, understanding the 60% rule is crucial for older homeowners. This rule, which limits the initial access to home equity, is designed to ensure financial stability over time by preventing borrowers from depleting their funds too quickly. The rule…
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