birmingham reverse mortgage Archives | Reverse Mortgage Alabama

MoneyWatch: Managing Your Money Experts weigh in. Retirees should closely compare their HELOC and reverse mortgage options before borrowing any equity from their home. Retirees are increasingly exploring home equity as a tool to manage their rising costs. While inflation affects all of us, retirees are particularly vulnerable to its effects because of their fixed…

Yes, it’s possible that an investment advisor could be sued if clients lost money due to their advice and felt that the advisor should have offered a reverse mortgage as a way to supplement their income, particularly if it was a suitable option for their situation and the advisor failed to present it. Here’s a…

Birmingham and Huntsville Alabama Reverse Mortgage information

Reverse mortgages explained As long as there have been homes for sale, there have been financial vehicles designed to alleviate some of the financial pressures associated with owning a home. A reverse mortgage is another way homeowners can borrow money based on the value of their homes, but it doesn’t need to be repaid as…

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…

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…

‘Wild ride’: Morgan Stanley’s Mike Wilson predicts double-digit percentage drop will hit stocks in early 2023. A lot of two-way risk in the stock market right now, warns Morgan Stanley’s Mike Wilson. Investors may be on the doorstep of a deep pullback. Morgan Stanley’s Mike Wilson, who has an S&P 500 year-end target of 3,900…

Now’s a great time for a reverse mortgage In today’s economic climate, clients need financial solutions that make sense. Today’s economic circumstances are taking a toll on retirees. From delaying major purchases and driving less, to cancelling or curtailing travel plans, many are sacrificing to make ends meet. Retirees need solid financial options to help ease…

Sources of Retirement Income When you’re retired, you need dependable income — often from multiple sources Try not to rely on just one income stream in retirement, as it may not provide enough money. Think about what kinds of income streams are most possible and appealing for you. Consider dividend-paying stocks or reverse mortgages, for…

Financial planner: when a reverse mortgage makes sense for a borrower “For a retiree who has a mortgage on their home, if the payment puts a squeeze on money that’s available for other living expenses, a reverse mortgage might relieve the pressure and makes sense.” she writes. “Depending on the homeowner’s age and the home’s…

Who’s Ready for a 24% Cut to Social Security Benefits? Without significant changes, big benefit cuts await seniors in 15 years. The Social Security program has been providing a financial foundation for our nation’s retired workforce for more than 80 years. Of today’s nearly 65 million beneficiaries, 46 million of them are retirees, many of…