Bankrate: Home Equity Borrowers Must Keep 2021 LIBOR Sunset in Mind

The London Interbank Offered Rate (LIBOR) index is set to expire at the end of 2021, and this approaching eventuality is something that home equity borrowers generally — including reverse mortgage borrowers — should keep in mind as a new rate index is poised to take LIBOR’s place. This is according to a new column […]

Bankrate: Low Interest Rates Fuel Renewed Reverse Mortgage Appeal

As the mortgage rate environment and the finances of seniors have gained renewed focus during the COVID-19 coronavirus pandemic, so too has the interest in and potential value proposition of tapping home equity to create cash flow with a reverse mortgage. This is according to a new column published at Bankrate. “Although there are costs […]

Bankrate: Pros and Cons of a Reverse Mortgage, Possible Alternatives

As a complex financial instrument, a reverse mortgage has the potential to help retirees which are in specific financial circumstances, but should be fully understood in context with features, potential shortcomings and comparison with available alternatives. This is according to a reverse mortgage guide published this month by Bankrate. Seniors at or over the age […]

Bankrate: Reverse Mortgages Can Help Pay for Home Modifications

As aging in place becomes increasingly preferred among seniors, those who may have some trouble paying for necessary home modifications to make the process easier may find a possible path forward through a reverse mortgage loan. This is according to a new column appearing in Bankrate. A majority of Americans over the age of 50 […]

Bankrate: HELOC Losses Could Mean Gains for Reverse Mortgages

The diminishing availability of Home Equity Line of Credit (HELOC) loans due to lenders pulling back on such offerings makes finding those loans difficult, but alternative options — including a reverse mortgage — can help those who wish to access their home’s equity. This is according to a column published this week by Bankrate. “Despite […]

Bankrate: 77% of Homeowners Say Mortgage Hampers Retirement Savings

The overwhelming majority of homeowners who maintain a traditional, forward mortgage payment indicate that the pressure that regular payment places upon their finances makes it very difficult to adequately save for retirement. This is according to a new survey recently conducted by Bankrate. “This figure includes 31% who say the mortgage has a major negative […]

Fox Business: 22% Say Retirement Savings Worse Than Before Great Recession

More than 1-in-5 American survey respondents who were adults when the Great Recession began in December, 2007 now say that their retirement savings are worse now than they were before it hit the market, according to a survey conducted by personal finance website Bankrate. This may be because the effects of the Recession were underestimated, […]