AP: Reverse Mortgage an Option for Seniors Suddenly in Retirement

An increasing number of unemployed people who identify themselves as “retired” have been thrown out of work due to the ongoing economic impacts of the COVID-19 coronavirus pandemic. For those who find themselves suddenly in retirement, it’s important to find options which can assist with cash flow, and in some cases this can include a… [Read More]

Can you refinance a mortgage while in forbearance?

On March 27, 2020, the federal government approved the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion relief package aimed to provide immediate help to families, small businesses, workers and homeowners. Millions of homeowners took advantage of the CARES Act’s forbearance provision. The term mortgage forbearance refers to a repayment plan that… [Read More]

Reverse Mortgage an Option for Seniors Suddenly in Retirement

An increasing number of unemployed people who identify themselves as “retired” have been thrown out of work due to the ongoing economic impacts of the COVID-19 coronavirus pandemic. For those who find themselves suddenly in retirement, it’s important to find options which can assist with cash flow, and in some cases this can include a… [Read More]

5 Speedy Ways to Come Up With a Down Payment

The best way for first-time home buyers to come up with a down payment for a home: save for one, of course! But sometimes you’re in a hurry. Maybe your dream house just popped up on the market, or you’ve simply had it with being a renter. Whatever the reason, you’re ready to buy a… [Read More]

U.S. News: Things to Consider Before Getting a Reverse Mortgage

Reverse mortgages can serve as a potential path for older Americans to gain access to additional cash in retirement, but there are several considerations a retiree should make before applying that are both pros and cons. This is according to a new column published this week in U.S. News & World Report. A primary advantage… [Read More]

7 Ways to Earn Supplemental Income During Retirement

While some people have enough money in their retirement savings to allow them to live very comfortably in their golden years, many seniors find themselves in a position where they could use a little extra income. If you’re looking for supplemental income in your retirement, we have seven ways to pad your wallet. If you… [Read More]

CNBC: Reverse Mortgages Can Help Seniors Retire Where They Want

Making the decision about where and how to spend retirement can be difficult for many American seniors, often dictated by the amount of resources a retiree has access to. One of these decisions can involve either moving — into a new home or an assisted living facility at the appropriate time — or choosing to… [Read More]

Mortgage Professor: How to Use a Reverse Mortgage to Avoid Poverty

For someone who has used existing assets to pay off an existing mortgage on their home, the use of a reverse mortgage line of credit would be an effective way to prepare for a person’s older years and to avoid premature exhaustion of assets, which can lead to poverty. This is according to Jack Guttentag,… [Read More]

New York Times: In Family Retirement Planning, Reverse Mortgages Could Present a Solution

With the impact of the COVID-19 coronavirus pandemic still a persistent presence in the everyday lives of Americans, more adult children and retired parents are spending time together, which makes for an optimal moment for retirees to talk about their finances with their children. A reverse mortgage can be one such solution for retirees to… [Read More]

L.A. Times: Reverse Mortgage an Option After Pandemic Job Loss

A reverse mortgage is one possible option for a person aged 62 or older who has experienced a job loss as a result of the COVID-19 coronavirus pandemic, but the viability of the option is highly dependent on the individual situation of the senior in question. This is according to Liz Weston, a certified financial… [Read More]