If you’re 62 or older, own your home outright or have a low mortgage balance, there are two ways to pull cash out of your house without selling it. You can get a home equity loan or line of credit or (HELOAN or HELOC). And you’re probably eligible for a reverse mortgage, often called a…

People 65 and older are more likely than younger people to have heat-related illness. Older people often have trouble regulating body temperature due to a chronic medical condition or use of certain prescription drugs. The U.S. Centers for Disease Control and Prevention suggests: Stay in an air-conditioned place as much as possible. If your home…

Increasing numbers of homeowners around the US are using Reverse Mortgage Loans to boost their income in retirement. With a Reverse Mortgage you could take advantage of your property value now, without having to move or downsize. If you are over 62, this is why you should consider a Reverse Mortgage. 1) A Home Equity…

Frustrated by regulations that can slow the Home Equity Conversion Mortgage for Purchase program, one Iowa lender decided to employ a unique end-around to help borrowers buy a new-construction home with a reverse mortgage. Fidelity Bank, based in West Des Moines, Iowa, announced the completion of a “forward” home equity line of credit-to-HECM purchase transaction…

Concerns over the future of Social Security play a starring role in American seniors’ overall retirement uncertainty — and that’s before considering how much of the benefit might eventually need to go toward unexpected medical expenses. After factoring in supplemental insurance premiums and other uninsured health costs, the average retiree only takes home 75% of…

Older women who practice yoga may have greater “thickness” in areas of the brain involved in memory and attention, a small study suggests. Researchers found that even compared with other healthy, active women their age, yoga practitioners typically had greater cortical thickness in the brain’s left prefrontal cortex. That could be good news because, as…

Eating right may help protect your brain health in old age, a group of new studies show, according to four new studies. In particular, the Mediterranean-DASH Intervention for Neurodegenerative Delay (MIND) diet lowered people’s risk of dementia, two studies concluded. The MIND diet is a hybrid of the Mediterranean diet and the DASH (Dietary Approaches…

A home equity line of credit can be a valuable piece of a comprehensive retirement plan — but not all home equity line of credit loans are the same. If you are age 62 or older, you may be eligible for a reverse mortgage line of credit. A reverse mortgage can give you greater control…

“I am 75 years old, my wife is 56, and our home is worth $400K. Our equity in the house will be her main financial resource when I have ‘departed’. She wants to live in our home until the end. What is the best way to use a HECM reverse mortgage to meet her needs…

Middle-aged and older adults who start eating better also tend to live longer, a large new study shows. The findings, reported in the July 13 issue of the New England Journal of Medicine, might not sound surprising. Health experts said they basically reinforce messages people have been hearing for years. But the study is the…