Posts Tagged ‘social security’
Mortgage Rates Hit New All-Time Lows—and They May Fall More
There is at least one bright spot for home buyers, sellers, and owners amid the economic mayhem brought on by the novel coronavirus. Mortgage interest rates have fallen to a new record low, a boon to homeowners who may want to refinance and save money, and buyers (if anyone feels like buying a home right…
Read MoreMotley Fool: Reverse Mortgage a ‘Proven’ Way to Boost Retirement Income
Maintaining enough income in retirement is an ongoing issue for many American seniors, and finding effective methods to maintain or bolster senior finances becomes a major concern. One such proven way to boost retirement income is by employing a reverse mortgage, particularly since it requires no monthly payments. This is according to financial columnist Selena…
Read MoreMarketWatch: How Reverse Mortgages Can Provide Retirement Income
Tapping home equity is often an overlooked possible source of income for those with fixed resources, and considering the home equity that seniors have access to, reverse mortgage products should be considered when coming up with a retirement funding plan. This is according to Stephen Resch, VP of retirement strategies at Finance of America Reverse…
Read MoreTips and Tricks to Make Downsizing Easier (And More Lucrative) for Seniors
Have you wondered if downsizing your home could be a smart financial move? Maybe you’re already planning to downsize and you want to make sure it pays off. Downsizing definitely has the potential to be a smart move financially, but how you downsize makes all the difference. That’s why we’ve gathered these resources to help…
Read MoreAmericans 4 Times More Likely to Be Equity-Rich as Home Values Increase
14.5 million residential properties in the United States are considered equity-rich, based on data which indicates that the combined estimated amount of loans secured by those properties was 50% or less of their estimated market value. The count of equity-rich properties in the fourth quarter of 2019 represented 26.7% (a little over one in four)…
Read MoreForbes: Reverse Mortgages Can Help Pay for Long-Term Care
Because there are notable gaps in the coverage of long-term care (LTC) services in the Medicare program, one possible path to funding such services could be through the use of a reverse mortgage. This is according to Diane Omdahl, a former technical expert for the Centers for Medicare and Medicaid Services (CMS) and a Medicare…
Read MoreWomen Often Carry the Burden of Caring for Aging Parents
Women primarily carry the burden for serving as primary caregivers for their aging parents, which has notable implications on their own future financial and retirement goals. This is according to a study conducted by the Nationwide Retirement Institute, and highlighted recently by Yahoo Finance. According to the results of the study, nearly two-thirds of caregivers…
Read MoreFinancial Planner: Reverse Mortgages Can Offer Path to Retirement ‘Paycheck’
Managing finances in retirement can be difficult for a senior, most especially if someone is already strapped for cash. That makes the possibility of regular cash flow in addition to pre-existing benefit programs very attractive, and reverse mortgages can offer some seniors a viable path toward just such a path. This is according to a…
Read MoreFinancial Planner: Reverse Mortgages Can Offer Path to Retirement ‘Paycheck’
Managing finances in retirement can be difficult for a senior, most especially if someone is already strapped for cash. That makes the possibility of regular cash flow in addition to pre-existing benefit programs very attractive, and reverse mortgages can offer some seniors a viable path toward just such a path. This is according to a…
Read MoreMortgage Rates Are at 3-Year Lows—Here Are 5 Questions to Ask Yourself Before You Refinance
Mortgage rates are resting near record lows — and that’s spurring a wave of refinancing activity as Americans look to take advantage of the savings a cheaper interest rate could bring. Refinance loan volume jumped to the highest level since 2013 last week, especially among jumbo mortgage borrowers, on the heels of lower mortgage rates,…
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