Posts Tagged ‘reverse mortgage’
US 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 MoreDenied Mortgage Loans
Data shows older adults more likely to be denied mortgage loans Older people are denied mortgages loans at a higher rate while younger borrowers have higher HECM rejection rates: NYT Older adults tend to have higher credit ratings than any other age group in the nation. However, older Americans are also more likely to be…
Read MoreWant to retire early
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…
Read MoreAmericans are falling deeper in debt
Nearly half of all Americans are falling deeper in debt as inflation continues to boost costs KEY POINTS With inflation hitting a 40-year high in June, Americans are struggling to keep up with rising prices and putting less money aside for emergencies or long-term financial goals, several studies show. Americans’ overall satisfaction with their financial…
Read MoreDoes the lender own my home
If I take out a reverse mortgage loan, does the lender own my home? No. When you take out a reverse mortgage loan, the title to your home remains with you. Most reverse mortgages are Home Equity Conversion Mortgages (HECMs). The Federal Housing Administration (FHA), a part of the Department of Housing and Urban Development…
Read MoreOne in Six retirees is considering a return to the workforce
The survey — which included 930 American employees and 206 hiring managers — illustrates the number of people returning to work after retirement and outlines the reasons why they’re making these moves. The results also indicate that the majority of those considering a return to the workforce would prefer remote or hybrid positions. “Among those…
Read MoreWill US Housing Crash The Economy
Will US Housing Crash The Economy? Maybe it’s different this time. A slowdown in US construction activity has preceded broader slowdowns in the past. Welcome to Money Distilled. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money. Could US Housing Crash The…
Read MoreShould You Use a Reverse Mortgage to Retire
Should You Use a Reverse Mortgage to Retire Should You Use a Reverse Mortgage to Retire? Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. A reverse mortgage could provide much-needed cash flow,…
Read MoreReverse mortgages can improve lifestyles
Reverse mortgages can improve lifestyles Reverse mortgages can improve lifestyles of any seniors who are least 62 and wish to increase their incomes or provide a meaningful hedge against future contingencies. Bear in mind that the reverse mortgage options that are available to access a portion of the equity in your home include: — Establishing…
Read MoreDouble-digit percentage drop will hit stocks in early 2023
‘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…
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