Posts Tagged ‘reverse mortgage’
Am I Too Old To Buy a House?
They say you’re never too old to learn, but is there a cutoff when it comes to homebuying? The median homebuyer is now 56 years old, which is seven years older than in 2023. The average age of first-time buyers has also increased—it now takes prospective buyers until the ripe-old age of 38 to finally…
Read MoreFive Year Retirement Plan Should Consider Reverse Mortgage
A recent New York Times article offers a concise 5-year countdown-to-retirement plan, with the final year of the timeline being the time to –cautiously – consider a reverse mortgage. Offered as a way to make ends meet if you’re planning to stay in your current home, reverse mortgages are a “fourth- or fifth-tier line of…
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 MoreEating By Day Might Cut Heart Health Risk To Night Shift Workers
Night shift workers might be able to protect their heart health by only eating during daylight hours, a new study says. Participants in an experiment experienced fewer heart health risk factors if they only ate during the daytime while working a night shift, researchers reported April 8 in the journal Nature Communications. “Our study controlled…
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 MoreOlder Americans are increasingly reliant on credit cards to cover basic living expenses
Nearly half of older Americans are reliant on using credit cards to cover basic living expenses they don’t have the cash for. And nearly 20% of this cohort consistently relied on this type of high-interest debt on a monthly basis over the past year, according to survey results released this week by AARP. These basic…
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 MoreAdults With ADHD Linked To Shorter Life Expectancy, Study Shows
Adults with attention deficit hyperactivity disorder, otherwise known as ADHD, may face a shorter life expectancy than their peers. On average, men with ADHD died seven years earlier than men without it, while women with ADHD died nine years earlier than their counterparts, according to a study of more than 30,000 people published Thursday in…
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…
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