Posts Tagged ‘income’
Home Prices Are Falling in These Cities—While They’re Rising Just About Everywhere Else
Everyone by now has some familiarity with America’s daunting pandemic-era real estate math: Take an all-consuming demand for new homes and bigger spaces, add in low mortgage rates and historically paltry inventory levels, and it all equals home prices that are skyrocketing to unheard of heights. And it seems to be happening just about everywhere.…
Read MoreUSA Today: Reverse Mortgage Could Help Retirees Avoid Exhausting Funds
The judicious use of a reverse mortgage has the potential to aid those at or near retirement in avoiding exhausting their financial resources while on a fixed income, something that is likely of particular interest to those who are concerned of outliving their resources well after they’ve retired from a career. This is according to…
Read MoreWhat People Over 50, Short on Retirement Savings Should Do to Prepare
If someone is over the age of 50 with less than $100,000 in retirement savings to his or her name, then there are a few key things that person should be doing to make sure that retirement will not be a burden when it comes in the next 10-15 years. These include determining a realistic…
Read MoreDid You Skip Mortgage Payments Last Year? Here’s What That Means for Your Taxes
Amid the economic turmoil caused by the coronavirus pandemic, millions of Americans opted to pause their monthly mortgage payments. That choice could have implications for their taxes this year — and in years to come. In March, as COVID-19 began to wreak havoc on the job market and caused millions of Americans to lose their…
Read MoreAtypical Work in Retirement Could Help Seniors Prolong Careers, Increase Retirement Security
For seniors who are not quite ready to stop working once they reach a traditional retirement age, nontraditional work could help them to prolong their careers with more flexible hours and less stress, even though such work typically comes without benefits like healthcare coverage and retirement benefits. This is according to a research brief published…
Read MoreForbes: A Reverse Mortgage Can Help Pay for a Roth IRA Conversion
While likely only to work for wealthier individual retirement account (IRA) owners, using a source of nontaxable cash to fund an IRA conversion could be a viable choice for some retirees considering the currently low rate environment, and assistance handed down by the government to minimize the economic impact of the COVID-19 coronavirus pandemic. One…
Read MoreSelf-Employed and Applying for a Mortgage? Here’s What’s Changed Since COVID-19
The gig economy has blown up in the past few years, with more and more people choosing to work as freelancers, either by starting their own businesses, or by picking up nonsalaried jobs from bigger companies. According to the Freelancers Union, over 50 million Americans worked this year as freelancers, a number that represents roughly…
Read MoreKiplinger: Why Retirees Should Consider Using a Reverse Mortgage for Cash Flow
Retiring without having to make regular mortgage payments is a big dream for many retirees, but is becoming increasingly unattainable for many Americans looking to transition out of work. This is one of the core reasons why home equity broadly – and reverse mortgages specifically – could be a viable option for a senior looking…
Read MoreRetire Big And Go Home Happy
If you are a senior with plans for relaxation and leisurely days throughout your retirement, it’s time to start planning. While many of your contemporaries may be talking about downsizing during their golden years, that’s not always the answer. Sometimes, the answer is to find more space and use each square foot to live your…
Read MoreCan 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…
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