During your pre-retirement years, it’s important to keep your spending and savings habits in check. When this isn’t enough, a Reverse Mortgage might be right for you. One large problem facing retirees is the realization that the budget that was working for their first 10 years of retirement may not cover costs going into their next 10 years. This is largely due to people living...
Pros and Cons of Reverse Mortgage
CNN Money gave brief plus and minus analysis of reverse mortgages earlier this month (see video below). View the CNN Money Help Desk segment. While the segment was insightful it was not very detailed in its analysis. So below we’ve provided you a more thorough list of reverse mortgage pros and cons. Pros • Convert a portion of your home equity into tax-free cashflow without having to sell your...
A Reverse Mortgage Loan Helps Extend The Value of Your Assets
With older homeowners struggling to find the best way to cover their costs in a down economy, many are left with the decision of whether to sell stock or utilize a reverse mortgage loan. Suze Orman recently gave advice regarding a homeowner facing this particular dilemma and had ascribed to the theory that it’s better to hold onto stock investments and employ a reverse mortgage. The rationale...
Home Equity Line of Credit and How it Relates to Reverse Mortgages
The financial landscape has changed quite a bit from what it was 20 years ago. People are living longer, exiting the workforce later, and not receiving as much proportionally from Social Security as individuals have in the past. The Centers for Disease Control and Prevention has reported that life expectancy rose to 78.2 years in 2009, an all-time high, based on preliminary data that includes...
Reverse Mortgage Solutions Grow In Popularity And Improve Image
In the late 80’s, mortgage brokers steered clear of the reverse mortgage solutions due to the perception that it was confusing, expensive, and risky. The consumer advocate and radio personality Clark Howard still remains somewhat skeptical of reverse mortgages but actually refers to this site in order to differentiate the pros and cons of reverse mortgages. Part of a rise in popularity after the...