alabama reverse mortgage Archives | Reverse Mortgage Alabama

Seniors looking to supplement their income may be able to tap their home equity to supplement their lifestyle or ease financial worries during retirement Pros & cons of tapping home equity Traditionally, seniors don’t tap into their home equity for retirement income. “I believe many people in their 70s and 80s look at it as…

Mortgage rates fall again as economy cools further Mortgage Rates fall for home loans for the sixth straight week as concerns about the economy buffeted financial markets. In the week ending March 6, 30-year fixed-rate mortgages averaged 6.63%, Freddie Mac announced Thursday. That’s down from 6.76% last week, and marked the biggest weekly decline since…

Pitch for Reverse Mortgage: Cost vs. Benefit I understand that considering a reverse mortgage is a significant decision, and it’s natural to have concerns about the costs involved. Let’s walk through how a reverse mortgage can truly benefit you and why it might be the right solution for your financial needs.” Acknowledging the Concerns: “I know…

Here are 5 uncomfortable truths about retirement, that you really need to hear now. Especially if you want to retire early. Retirement is the true American dream. Sure, many might fantasize about striking it rich and becoming famous, but when it comes down to it, the real goal is to make enough money so that you don’t…

What Is a Reverse Mortgage, and How Does It Work? Money.com What Is a Reverse Mortgage? A reverse mortgage is a type of home loan for older homeowners. Unlike traditional mortgages, they don’t require homeowners to make monthly payments. Instead, the borrower receives payment from the lender — either monthly, via a line of credit…

What Is a Professional Fiduciary Elder law attorneys urge the public to create a legal plan, but it is difficult for individuals without immediate family to decide who to appoint as their health care surrogate or agent under a power of attorney. All too often, these individuals avoid completing the appropriate documents, leaving them…

Rent or Buy Your Retirement Home? If you’re thinking about renting your next home instead of buying, consider the pros and cons of the decision. The housing market is hot, and it’s a great time to sell your home. Still, if you’re thinking about renting your next one, consider the tradeoffs. Renting temporarily is fine…

Fighting inflation with a reverse mortgage. What retirees need to know. As inflation concerns grow, many retirees worry about their purchasing power. Retirees may consider a reverse mortgage for inflation protection, financial experts say. Opening a reverse mortgage line of credit early and allowing it to grow may offer a buffer for future retirement expenses.…

Reverse Mortgages: 10 Things You Must Know Get a large wad of cash! Never make a mortgage payment again! Stay in your home as long as you want! Sounds like a great deal, right? Well, for someolder homeowners, a reverse mortgage can be. For others, it’s more perilous than promising. If you’re considering a reverse…

Baby Boomers Have Less Wealth Than Prior Classes The most recent cohort of Americans who are part of the “baby boomer” generation – typically classified as people born between 1946 and 1964 – are less wealthy when compared to older baby boomers, putting them at greater risk of financial instability in retirement. This is according…