Aging In Place Paramount, But Seniors Seek Home Changes First

Affordable housing is a rising concern for the 65+ population, a Bipartisan Policy Center survey released this week finds. And while the vast majority agree that aging in place is ideal, there are also considerations for many homeowners that go beyond that goal. The study, “Demographic Challenges and Opportunities for U.S. Housing Markets,” speculates the market […]

Majority of Seniors Have Less Than $10,000 at Life’s End

The majority of seniors have less than $10,000 in financial assets when they pass away, with more than half of the senior population not having any home equity at the end of their lives, according to a report this week by Boston College. The study, “Were They Prepared for Retirement,” was prepared by researchers at […]

Financial Fraud Up 62%, Seniors Increasingly Targeted by “Specialists”

Financial fraud is on the rise. We have heard this before. With market uncertainty and many individuals facing dire financial situations, the opportunity for fraud and abuse has seen a surge. But seniors are at particular risk, says a new study from the Retirement Research Center at Boston College, due to their enormous population, lifetime […]

FINRA and NCOA Launch New Reverse Mortgage Education Website

The National Council on Aging has launched a new consumer web site focused on using home equity in retirement, funded by the Financial Industry Regulatory Authority. The site, Home Equity Advisor.org, covers home equity options including reverse mortgages for seniors looking to make the most of the wealth they have built in their homes. The site […]

Obama’s Budget Plan: Not Looking Any Better for Retirees

In light of government departmental budget proposals prepared and announced last week, the retirement outlook for most seniors and those approaching retirement years is none the better. In fact, given the lack of attention to Social Security and recent payroll tax cut extension, the retirement outlook could be even worse, according to the Boston College […]

MetLife: 41% of Boomers Cite Home Equity as Possible Income Source

Baby Boomers are more likely than younger generations to count on their family being able to use their home’s equity as income in the event that they passed away unexpectedly, according to a MetLife Mature Market Institute survey, “Multi-Generational Views on Family Financial Obligations.” All three generations, including Gen Xers and Gen Yers, believe they […]

Will the Nation Go Broke Paying for Senior Housing & Long-Term Care?

This article was originally published on Senior Housing News, a sister website from the team behind Reverse Mortgage Daily. Want to read more articles like this? Sign up for daily emails. Government healthcare spending is set to skyrocket, costs of long-term care are steadily rising, while at the same time, most seniors’ wallets are strained […]

CNBC: Use Home Equity as Nest Egg for Retirement

In these tough economic times, many retirees are looking for ways to guarantee income in their later years, and getting a reverse mortgage is one possibility, says a recent CNBC article. As the name implies, such loans work in the reverse order from a typical mortgage, in that you receive a monthly check from your […]

Fox News Already a SOPA Victim with Incorrect Reverse Mortgage “Facts”?

Just because Wikipedia’s blacked out today (in protest of the Stop Online Piracy Act) doesn’t give Fox Business News an excuse to not get its reverse mortgage facts straight, as a recent article states that eligible homeowners can receive up to the value of their home in reverse mortgage proceeds. Reverse mortgages allow homeowners who have […]

MSN Money: Reverse Mortgages to the Rescue?

Retirement accounts across the nation are suffering as a result of The Great Recession, but declining home equity, among other factors, has made reverse mortgages a “thing of the past” as a retirement option, says a recent MSN Money article. “The truth is that reverse mortgages shouldn’t be used as a last-minute tool to fund your […]