What is a Reverse mortgage With the average monthly Social Security check a scant $1,693.88 in 2023, many seniors struggle to find ways to survive in the face of rising inflation. In an effort to increase their incomes and remain in their homes, some turn to tapping the equity they’ve accrued in those homes, via a special form…
Foreclosures are up. But is the housing market headed for a crash? Foreclosure notices ticked up nationwide in the first quarter of the year with more than 65,000 properties beginning to go through the process. There were 36,617 new filings in March, which marks the 23rd consecutive month with a year-over-year increase in foreclosure activity, according…
Housing economist predicts home prices to drop 10% this year I found this great article today by Milken Institute Global Conference 2023: Bank stress, rate hikes, recession threats. I wanted to bring it to my news and blogs for my customers information. Housing values will drop by double digits this year, one expert is predicting,…
Americans could see promised Social Security benefits cut by 27% in just 10 years — 3 smart strategies for tapping into your benefits. Americans could see promised Social Security benefits cut by 27% in just 10 years — 3 smart strategies for tapping into your benefits Possible cuts of up to 27% to Social Security…
Why is everyone so worried about retirement? Confidence has dropped to 2008 levels. Workers and retirees have grown much gloomier about their retirement prospects. Will their bleakness last? Trouble ahead? Financial stress is rising among workers and retirees. In April 2022, when I looked through the 2022 annual Employee Benefit Research Institute (EBRI) Retirement Confidence Survey, I felt…
Retirement confidence in the US tanks by largest margin since the Great Recession Retirement confidence of Americans in having enough money for a comfortable retirement has taken the biggest dive in 15 years, according to a new survey. Just 64% of workers are very or somewhat confident they’ll have enough money to live comfortably in…
US foreclosure filings jump 22%, and repossessions hit highest level in 3 years. Luxury single-family homes in the top 20 US markets and with modest footprints between 2,500 and 3,500 square feet sold 18.6% faster between April and August 2022 than big homes between 4,500 and 5,000 square feet, according to a report by Coldwell…
Data shows older adults more likely to be denied mortgage loans Older people are denied mortgages loans at a higher rate while younger borrowers have higher HECM rejection rates: NYT Older adults tend to have higher credit ratings than any other age group in the nation. However, older Americans are also more likely to be…
