Mortgage Tips for Retirees Sure, your grandma and grandpa may have stayed put once they left the workforce, but you likely have other plans. Now more than ever, it seems retirees are on the move—and buying new homes. About 18% of homebuyers were younger baby boomers (aged 56 to 65) in 2021. And older boomers…
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**The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage to become due immediately. A reverse mortgage is a complex loan secured by your home. Whether such mortgage makes sense for you depends on your financial situation and needs. For these reasons, you are required to consult with a qualified independent housing counselor and include family members and other trusted advisers before making this decision. This information is not from HUD or FHA and was not approved by HUD or any government agency.
