Home equity for homeowners over the age of 62 in the United States is continuing to rise. In Q3 of 2017 it increased by $121 billion, bringing senior housing wealth to a total of $6.5 trillion.1 Rising home equity comes as welcome news at a time when many seniors are faced with managing their own retirement savings. Home equity can be a much needed resource for living a more comfortable...

Many seniors enroll for social security benefits as soon as they are eligible to do so, at age 62, in order to help supplement their retirement income. While claiming social security benefits right away does help cover immediate costs, there are significant benefits in waiting to enroll. In fact, waiting to claim social security benefits until later in retirement can result in higher benefits...

If you are a homeowner 62 years of age or older you may want to refinance your conventional mortgage with a reverse mortgage. A reverse mortgage allows you to access a portion of your home equity as cash, while remaining in your home and maintaining ownership.1 Reverse mortgages, unlike conventional mortgages, do not require monthly mortgage payments for as long as you live in the home as your...

Many senior homeowners who are looking for a way to supplement their income are turning to Home Equity Conversion Mortgages (HECMs) as a way to convert their home equity into cash. A HECM, also called a reverse mortgage, allows seniors to access a portion of their home equity while remaining in their home and maintaining ownership.1 The process of acquiring a HECM loan is very similar to other...

Financial security and peace of mind is vital to retiring seniors’ well-being. In fact, research found that financial stress has a direct impact on the health of seniors.1 Unfortunately, many seniors experience financial stress despite the negative effect it has on them. A survey conducted by the Federal Reserve reported that 31% of adults in their 60’s experience “major financial stress”...