by Steve G | Dec 1, 2023 | Finance, Retirement, Reverse Mortgage
A reverse mortgage can be an important part of retirement planning for wealthy retirees that have a substantial amount of home equity. It is a financial product that allows you to access part of the equity in your home while you are still living in it. This is equity... 
by Steve G | Nov 3, 2023 | Finance, Housing, Retirement, Reverse Mortgage
Undertaking unexpected home maintenance and renovation projects in retirement could negatively impact seniors’ budgets. More homeowners are turning to home equity lending — especially home equity lines of credit (HELOCs) and home equity conversion mortgages (HECMs) —... 
by Steve G | Oct 20, 2023 | Finance
Credit to MarketWatch, Fidelity Investments, and Chris Chow/USA Today for their data and insights. According data from Fidelity Investments, Baby boomers are “underwater” in recovering retirement account balances compared with millennials. The 401k account balances of... 
by Steve G | Oct 18, 2023 | Finance, Housing
Monday, October 16, 2023 Have you ever considered adding an additional living unit on your property, or purchasing a home with an existing additional unit? These types of properties are popular for generating revenue from both short-term and long-term rental. ... 
by Steve G | Oct 13, 2023 | Finance, Housing, Reverse Mortgage
Several factors determine how much money you can borrow through a reverse mortgage. Those factors include your age, the interest rate offered, the home’s value, and how much equity you have in the home. A reverse mortgage calculator will estimate how much money is... 
by Steve G | Sep 29, 2023 | Finance, Housing, Reverse Mortgage
Qualifying for a reverse mortgage requires far less documentation and fewer credit conditions than a forward mortgage. However, there are a few important requirements that must be met. Important Requirements: Borrowers in most states must be 55 years or older. Ages...
