Debt in retirement can be a crippling thing for seniors in America to overcome, and for many who feel like they are without many options to try and address that, home equity could naturally come into play as a potential solution. But not all instruments that allow the tapping of home equity are created equal, and a reverse mortgage could be the best such option.
A column at Forbes examines some of the ways in which the COVID-19 pandemic has changed the face of American retirement, and includes at least one instance where a reverse mortgage loan may be useful in meeting the needs of affected seniors.
When keeping in mind the pros and cons of a home equity line of credit, one financial planner and industry participant describe how a reverse mortgage could be a better choice for some seniors.
A reverse mortgage can serve as part of a financial plan designed to weather economic downturns, according to a column at Kiplinger.
Seniors who are considering mortgage options may want to know a few things ahead of time, according to Bankrate. For RMD’s audience, some may find it surprising that people in their 90s are getting new, forward mortgages.
Highlighting many different ways a retiree can convert their home equity into cash, Kiplinger tackles the topic of reverse mortgages for retirees.
Recent data gleaned from surveys by AAG and RMD help to show what reverse mortgage professionals should keep in mind about consumers’ home equity thoughts, as well as some surprises.
Preparing for retirement can extend to tapping home equity, and making alterations to the property among other things, according to finance columnist Liz Weston.
New stimulus payments will be welcome for American seniors, but may not go far enough to be more than a ‘drop in the bucket,’ according to a MarketWatch column.
For seniors seeking options after prioritizing mortgage payments over retirement savings, finance columnist Liz Weston offers some ideas including a reverse mortgage.