Reverse mortgages are structured to convert home equity into a more liquid resource without selling the home.
Following a 30-year marketing and advertising career, Frederick Schindler started thinking about his retirement in his late 50s. His goal was to find a way to maintain a comfortable lifestyle by leveraging his projected assets and income against his expected fixed expenses, including his mortgage, (more…)
May 18th, 2012 | by Elizabeth Ecker
Americans are shifting their retirement expectations in light of the economic downturn and the long term outlook.
More than half of workers expect to continue working past age 65, with 16% saying they never plan to retire. When it comes to working post-retirement, only 19% report they do not plan to work at all, according to a recent Transamerica survey. (more…)
A reverse mortgage enables homeowners 62 and older to convert part of the equity in their homes into cash without having to sell the home, give up title, or take on a new monthly mortgage payment. The homeowner continues to pay insurance and taxes, live in and maintain home. The reverse mortgage is aptly named because the payment stream is “reversed.” Instead of making monthly payments to a lender, as with a (more…)
If you think that reverse mortgages are only for cash-strapped retirees without any other financial options, think again. The features of reverse mortgage loans have been evolving over the years and a growing body of research suggests that these loans can help older adults manage a dependable stream on income during their retirement years. (more…)
The New Reverse Mortgage is a versatile retirement funding tool that can be utilized in many ways. Here are just some of them: (more…)