Reverse Mortgages: The Rodney Dangerfield of Retirement

CBS Money Watch

According to a recent brief from the Boston College Center for Retirement Research (CRR), middle-class Americans age 65 to 69 have more or equal wealth in their home equity than in their financial assets. Yet few retirees are taking steps to utilize this significant asset to help them finance their retirement.

Aging boomers probably remember Rodney Dangerfield as the comedian who lamented, “I don’t get no respect”. Are reverse mortgages the modern equivalent in the retirement planning world?

Read the full article here

Here’s what people like you are saying about us.



Original post here: Reverse Mortgages: The Rodney Dangerfield of Retirement

Comments

Post a Comment

Popular posts from this blog

What amount of down payment is required to buy a house?

This article: A down payment is the amount you pay to purchase a house. What amount of down payment is required to buy a house? You can put down anywhere from zero to 100 percent. Your mortgage is the difference in your down payment and purchase price. You must be able prove that your down payment came from an acceptable source Anyone who gains from the transaction is unacceptable Sometimes, down payments can be borrowed or gifted. Lenders will prefer to see larger down payments. To get a mortgage loan approved, applicants who have a lower down payment may need to purchase mortgage insurance. Verify your current interest rates updated daily. Purchase price equals down payment and borrowed funds “A down payment is money you pay that isn’t financed through a mortgage,” says attorney Michael Belle , “It is typically paid at closing to the home seller.” The down payment, together with the loan, equals the entire sale price of the home. Say your home’s sales price is $300,000.
Read more

First home buyer: Do you have the financial resources to buy a house?

This article: There are three key questions you should ask yourself when you’re a first time home buyer” “Do I have a steady job and reliable income?” “Is my credit history reasonable?” “Do I have money saved up for more than just my down payment?” If you can answer all three questions with “yes,” it may be time to consider homeownership. Verify your current national rates today! “Do I have a steady job and reliable income?” Before you choose to buy a home, you’ll want to be reasonably certain that you can make its monthly payment. You can’t know for  Certain that your job or income won’t change — life happens, after all — but an objective analysis will go a long way. For example, if you’re planning to leave your full-time job in favor of self-employment, be aware that such a switch may be trickier than it appears. Related: First Time borrower? These are the guidelines There are risks in becoming self-employed. Mortgage lenders will require that you have at least one ye
Read more