For clients who need long-term care attention, the home-sweet-home solution unfortunately may be a money pit. When home-care costs go through the roof. By Donald Jay KornA recent poll from the Associated Press and the National Opinion Research Center shows 77% of older Americans would prefer to receive care in their own homes. That’s no…
How Reverse Mortgage Could Help Your Retirement I find tons of articles on Reverse Mortgages, and try to bring them all out in the open, not pick the good ones. Reverse mortgages, which let retirees tap the equity they have built up in their homes, have become a much better deal in recent years. (Newswire.net —…
10% of Older Homeowners Could Benefit from HECMs, Other Equity Loans About 10% of the homeowners aged 65 and older would benefit from the use of home equity extraction tools, according to a new study from the Urban Institute — but major structural and institutional barriers remain. Researchers Laurie Goodman, Karan Kaul, and Jun Zhu…
Reverse Mortgage Must-Reads: Cordray’s Warnings, CNBC’s Take Another week, another host of reverse mortgage headlines, from a top regulator’s plea to spread warnings about a particular Home Equity Conversion Mortgage strategy to a major news outlet’s take on the future of the program after recent changes. Use this handy cheat sheet of the most recent…
Why the HECM Reverse Mortgage Market Is Stunted – and What Can Be Done About It. by Jack Guttentag, Contributor. Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania Jack Guttentag, Contributor Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. On the positive side of the…
Reverse Mortgage Opportunities and concerns Changes include higher upfront costs, a lowered principal limit factor and an interest-rate deduction. Advisors have recommended clients use reverse mortgages for cash management, delaying Social Security withdrawals and funding long-term care. In August the Consumer Financial Protection Bureau issued a warning against taking out a reverse mortgage to maximize Social Security…
More Baby Boomers Will Enter Retirement with Mortgage debt, Fannie Mae Finds More baby boomers who have yet to retire will enter their golden years with outstanding mortgage debt than previous generations, according to a recent study from Fannie Mae. I have compared generalized spreadsheets with colleges from New York and Arizona, and its seems this problem…
Three ways your house could help you in retirement. CBS Moneywatch If you’re nearing retirement age and feeling as though your savings may not be quite as hefty as you had hoped, you aren’t alone: Many Americans don’t have enough money saved to retire comfortably by age 65. Most older Americans have more than 50…
