For someone looking for a hedge against property value risk, a senior may not need to look any further than a Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) loan. This is according to Jack Guttentag, aka the “Mortgage Professor,” in a new column published by Forbes. Tied to the motivation for someone to […]
A key determining factor of someone’s ability to build wealth in America is homeownership, and as retirement faces a mounting series of challenges, that ability to build wealth can factor crucially to an older individual’s retirement plans. Employing the housing asset can be an important piece of building wealth even more for people of color, […]
One often overlooked tactic that seniors can employ when seeking to pay down outstanding debt in retirement is the strategic use of a reverse mortgage loan, one of several options that an older American can use when examining their finances during their post-working years. This is according to contributor Bob Sullivan and editor John Schmidt […]
While Home Equity Conversion Mortgages (HECMs) have significant potential as financial tools for seniors who are trying to create cash flow in retirement, sometimes the benefits of HECMs can lead to a series of mistakes made by their borrowers. Access to an influx of cash can sometimes lead to irresponsible spending, with that cash chipped […]
As a growing number of older Americans may find it difficult to maintain their lifestyles through traditional fixed income streams, the idea of “partial retirement” — where a senior could maintain one or more part-time jobs — should be further embraced by the financial world. To support this, a senior’s strategic use of a reverse […]
One of the most pronounced deficiencies of existing retirement programs is that instead of integrating three core features — including asset management, annuities and a Home Equity Conversion Mortgage (HECM) — these are all components which are considered separately. Integrating them into a single, efficient retirement plan could be very beneficial for a retiree, according […]
The low interest rate environment currently being observed in the mortgage world can be difficult for retirees to navigate, due to the likelihood of their reliance on sources of fixed income. A reverse mortgage tailored to the specific needs of homeowner retirees may be able to help seniors in this situation, so long as the […]
For seniors who may feel squeezed by the necessity of paying taxes in retirement on a fixed income, there are a number of ways in which a senior might be able to reduce their tax burdens in retirement. One of the possible methods can include a reverse mortgage, according to financial planner Erik Carter in […]
For many people who have seen their home values rise during this low rate environment and additional activity in some regional real estate markets, some may be asking questions about what they can do to take advantage of these changes if they own a home. Taking equity out of the home is one such option, […]
For someone who has used existing assets to pay off an existing mortgage on their home, the use of a reverse mortgage line of credit would be an effective way to prepare for a person’s older years and to avoid premature exhaustion of assets, which can lead to poverty. This is according to Jack Guttentag, […]
