The National Council on Aging (NCOA) has redesigned its website providing information for “house rich but cash poor” older people who want to think about tapping their home equity. Home equity – the house’s market value minus the amount owed on the mortgage – remains a largely unused source of income that many older Americans could be putting toward their medical care or to improve their lives. Read full story at squaredawayblog.bc.edu
As many people grapple with how they’ll prepare for their non-working years, some may be forced to take on a “do-it-yourself” approach to diversify their assets, and that could mean incorporating a reverse mortgage into their retirement plans, suggests a recent article from CBS News Money Watch. In the […] Read More >>
Why This AARP Columnist Changed Her Mind on Reverse Mortgages by Jason Olivia. Thanks to various program changes in recent years, reverse mortgages have been winning over everyone from financial advisors to community banks and the mainstream press, and even one nationally recognized personal finance commentator who has recently changed her view on the product. Read More >>
Is Retiree Poverty Making a Comeback? by Jason Olivia.
Increased aging longevity coupled with diminishing Social Security benefits are stewing together in what could be a return in poverty among retirees and the elderly—and it’s not just happening in the U.S., says a recent article from The New York Times. On average, people are spending seven more years […] Read More >>
TIME: When Using a Reverse Mortgage Makes Sense in Retirement by Jason Olivia.
Various research in recent years have demonstrated the effective usage of reverse mortgages in retirement planning. But while using reverse mortgages as part of a retirement income planning strategy might not be a viable solution for everyone, it does make sense for some, says a recent article from TIME. Read More >>
Forbes: Reverse Mortgages Vs. ‘Caregiver Loans’ by Jason Oliva.
Like many financial products, reverse mortgages have their pros and cons. But where these loans come up short, alternatives may be able to bridge the gap. A recent article published in Forbes’ Personal Finance section explores the reverse mortgage basics, informing readers about the various qualifications, requirements, as well as potential advantages and disadvantages of how these loans work. Read More >>
Boomers’ Wealth Primed for Reverse Mortgage Use by Jason Olivia.
recent article by reversemortgagedaily.com discusses the challenges baby boomers face when it comes to retirement and having enough wealth and resources to live comfortably during their non-working years. According to the article, even though Boomers have accumulated more wealth than their parents’ generation, rising costs of living and high mortgage debt are two obstacles that may have Boomers looking for additional wealth building strategies. And for many, that could mean tapping into home equity with a reverse mortgage. Read Full Story >>