Earlier this summer, homeowners aged 62 and older saw their collective housing wealth increase in Q1 2022 by approximately $520 billion to a record of $11.12 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. Such historic levels of home equity may mean that…

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While Americans have a multitude of potential options and avenues they can use to fund their life after completing a career, many Americans — including current seniors — often find themselves unprepared for retirement. This is why it may be necessary to seek out less traditional sources of retirement funding, and one such potential source…

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One often overlooked tactic that seniors can employ when seeking to pay down outstanding debt in retirement is the strategic use of a reverse mortgage loan, one of several options that an older American can use when examining their finances during their post-working years. This is according to contributor Bob Sullivan and editor John Schmidt…

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Based on the recent release of the Federal Reserve’s 2019 Survey of Consumer Finances (SCF), as much as half of today’s current American households are at serious risk of not having enough resources in retirement. Some of these risks can be mitigated with financial products including reverse mortgages, but more action is needed to fix…

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It’s a big question with no easy answer: Should you keep renting, or is it time to think about buying a home? One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. But that doesn’t mean buying is always the best…

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While a retiree can begin claiming his or her Social Security benefits at age 62, payments at that age will be reduced for anyone seeking them before full retirement age. As of January 1, for many Americans full retirement age does not begin until someone reaches age 66, but also not right at the birthday,…

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If you’re hoping to buy a house with your significant other, it can be easy to get caught up in the fun stuff, like deciding the style of home you’d love (Victorian, midcentury modern, Cape Cod?) and finding the perfect neighborhood (downtown or middle of the woods?). Still, don’t be fooled: The home-buying process is…

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A reverse mortgage, specifically a federal government-sponsored Home Equity Conversion Mortgage (HECM), has a lot of moving parts that may make the product concept intimidating for some people. For those who are looking for alternative ways to try and create more cash flow in retirement, there are clear benefits as well as some inherent complexities…

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My husband and I recently purchased our first rental property. Over the past few months, we’ve repaired and renovated the 1930s-era home, and are starting to look for tenants. And it turns out, our timing couldn’t be better: The Tax Cuts and Jobs Act made several changes for rental property owners that portend a more…

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