Posts Tagged ‘retire’
How Reverse for Purchase can help baby boomer borrowers
Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years. According to data from Statista,…
Read MoreReverse purchase financing: The financing option no one is talking about
Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and…
Read MoreGood Mental Health Could Be Key to Hip Fracture Recovery
Many seniors suffer long-term health issues after a hip fracture, even after hip replacement surgeries. Now, research shows that a patient’s mental health could be crucial to how well they bounce back in the years after these injuries. “Addressing overall mental health during the recovery process from hip fractures is crucial,” concludes study senior author…
Read MoreAging in place is ‘financial necessity’ for many older Americans
A survey of more than 1,000 older Americans found that while 76% of all respondents said they plan to age in place in their home, one in six respondents viewed it as a “financial necessity” given the rising costs of other care settings and living facilities, and that one in four (25%) respondents do not…
Read MoreHow Much Money Do I Need to Retire?
Determining how much money you need to save for retirement can seem daunting, especially when experts throw out numbers like $1 million, $1.5 million, or even $2 million. And with the current state of the economy, figuring out how and when to retire during a recession adds another layer of complexity. A good rule of…
Read MoreReverse purchase financing: The financing option no one is talking about
Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and…
Read MoreHidden Costs of Aging in Place
A recent survey from the American Advisors Group found that 74% of adult children of baby boomer parents prefer that their parents retire and age in their own homes—this to relieve the financial and emotional pressures stemming from elder care and growing retirement insecurity. Staying in your home as you age allows you to stay…
Read MoreHow Reverse for Purchase can help baby boomer borrowers
Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years. According to data from Statista,…
Read MoreHidden Costs of Aging in Place
A recent survey from the American Advisors Group found that 74% of adult children of baby boomer parents prefer that their parents retire and age in their own homes—this to relieve the financial and emotional pressures stemming from elder care and growing retirement insecurity. Staying in your home as you age allows you to stay…
Read MoreBaby boomers are most active in these housing markets
Baby boomers are a key constituency for the reverse mortgage industry since they are currently the generation with the largest share of the population at or above the age of 62. A recent SmartAsset analysis of 2023 Home Mortgage Disclosure Act (HMDA) pinpointed where boomers are most active within the U.S. housing market. “Retirement often…
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