Here’s the Average Cost of Retirement: How Prepared Are You? According to an Age Wave/Merrill Lynch report, 81% of Americans report not knowing how much money they’ll need for retirement. That’s more than a little problematic, because if you don’t know how much you’ll need, you can’t know if you’ve been saving enough. How much…
What the New Tax Law Means for Reverse Mortgage Borrowers American taxpayers and accountants are still sorting out the effects of the wide-reaching Republican-led tax overhaul, and the ramifications could be severe for reverse mortgage borrowers — or nonexistent, depending on who you ask. One key problem could potentially arise from new rules regarding the…
A reverse mortgage or bankruptcy are two options available to the elderly with high debt. How to find your way out of difficult financial circumstances. by Liz Weston question and answers. Dear Liz: I desperately need your help! My husband, who is 91, is in the early stages of dementia. I just turned 88 and…
Financial Assessment for Reverse Mortgages Looks Better and Better. Financial Assessment is still working, only more so. The Federal Housing Administration’s new policy of requiring financial assessment of the borrower’s ability to pay has cut tax and insurance defaults by nearly three-quarters and serious defaults by almost two-thirds. These results are even better than the…
Pull cash out. Reverse Mortgage Alabama reads in California’s O.C. Register. Now’s a good time to pull cash out of your home. Orange County Register. BUSINESS. By JEFF LAZERSON / CONTRIBUTING F Southern California homeowners are breaking into their home equity piggy banks as home values appreciated and equity has swelled. The number of cash-out…
Financial Plans help. Reverse Mortgage Alabama. How reverse mortgage loans can help with financial planning. Bankrate.com. Jay MacDonald Thanks to 2014 changes in federal regulations on reverse mortgages, the loans now serve as a financial planning tool for the waves of middle-class baby boomers facing retirement. In 2014, the Department of Housing and Urban Development,…
Younger retirees. New Thinking About Reverse Mortgages. MARKETS YOUR MONEY WALL STREET JOURNAL REPORTS: WEALTH MANAGEMENT. American College of Financial Services. By JEFF BROWN Younger retirees may benefit from using reverse-mortgage lines of credit as interest rates rise. Since rates tend to rise alongside inflation, a growing line of credit would provide an inflation hedge,…
Mortgage News. Reverse Mortgage Alabama. President Trump Signs Order to Begin Dodd-Frank Overhaul by Elizabeth Eckler President Trump on Friday signed an executive order that aims to begin unwinding the The Dodd–Frank Wall Street Reform and Consumer Protection Act, a massive piece of financial reform legislation signed into law by President Barack Obama in 2010.…
