Posts Tagged ‘retirement’
Why I Would NEVER Get a Reverse Mortgage
The Reverse Mortgage Myth Many people harbor misconceptions about reverse mortgages. They often associate them with negative stereotypes, believing they’re a last-ditch effort for desperate homeowners. This stigma originated many years ago due to media frenzy around situations in which a reverse mortgage was not the actual cause of any problem and government regulations that…
Read MoreDebt Consolidation: Is It the Right Choice for You?
Understanding Debt Consolidation Debt consolidation is a strategy used to pay off debt by combining multiple debts into a single payment. This can be achieved through a debt consolidation loan or a debt management plan. While it may seem like a simple solution to financial woes, it’s important to consider the potential drawbacks, particularly for…
Read MoreComparing the Options Available to Buy a New Home in Retirement
There are 3 ways in general to buy a new home in retirement: all cash, a traditional mortgage, or a reverse mortgage. Two of these options allow for no monthly mortgage payments, but is that the optimal solution for your situation? Let’s review a real-life scenario that one of our clients experienced while debating this dilemma…
Read MoreExploring the Idea of Purchasing a Home with Cash Compared to Purchasing a Home with a Reverse Mortgage in Retirement
When in or approaching retirement, it is imperative to explore all your living options including purchasing a home with a reverse mortgage. “NAR (National Association of Realtors) data shows that the largest portion of homebuyers in the real estate market today are Baby Boomers. And half of older Baby Boomers (aged 68 to 76) paid…
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