Your Reverse Mortgage Expert
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 […]
Retirees and Household Debt Household debt among retired people has increased in recent years, according to data from Next Avenue. Around 60% of 65+ households carried debt in 2016, up markedly from about 42% in 1992. Credit card debt and student loans have increased as well. One of the most stressful debt type for older […]
Debt Situation Grows Worse for Senior Population: Economist Seniors are more likely to hold home-secured debt, and to hold more of it today than in years past. Their percentage of held debt held has also increased, with seniors aged 75 and up having become four times more likely to hold home-secured debt in 2016 when […]
