Reverse mortgage can help in high-cost states
A new survey by AARP found that many senior citizens in New Jersey are struggling financially. AARP polled 400 New Jerseyans over 50 and found that about two-thirds said they don’t have enough resouces...
View ArticleMortgage market collapse has impacted reverse loan industry, says report
There have been some major changes in the reverse mortgage industry since the collapse of the mortgage market in 2008-09, according to a recent report from the AARP Public Policy Institute. The report...
View ArticleMore educated Americans stay in workforce longer
The more education people have, the longer they remain in the work force, according to the Employee Benefit Research Institute (EBRI). In 2009, 63.1 percent of Americans 55 and older with graduate or...
View ArticleWill reverse mortgages die on Capitol Hill?
Congress is on the warpath. It’s wants to get rid of allegedly failed and excessive housing programs and already two programs have bitten the dust with initial votes. The question, of course, is could...
View ArticleAARP sues HUD over reverse loan changes
AARP is suing the U.S. government over the effect of changes made to its reverse mortgage program. A lawsuit was filed this week in U.S. District Court for the District of Columbia seeking an...
View ArticleAddressing concerns of reverse mortgage heirs
Are your kids against you getting a reverse mortgage? Deciding to draw down the equity in your home with a reverse loan can cause a lot of concern among your adult kids. Although the decision to apply...
View ArticleBankruptcy and reverse mortgages
Maybe you got a reverse mortgage a while back and are still struggling with mounds of debt. If you’ve exhausted all your options for getting things under control, you may be contemplating a bankruptcy....
View ArticleYour reverse mortgage checklist
Your financial situation may not be the same today as it was last year or even last month. So if you are at least 62 years old and are trying to plan for retirement, use the following checklist when...
View ArticleSaver reverse mortgage shows modest gain
Things were supposed to be better in February. The FHA Saver reverse mortgage product was supposed to gain traction with time and to some extent this has happened. But given the huge advantage of the...
View ArticleEight budgeting tips for retirees
Enjoying a financially successful retirement depends on two things: adequate savings and investments for income and a streamlined spending plan. Boosting your income for retirement can be accomplished...
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