Seniors

How Should I Use My Home Equity For My Retirement?

October 10, 2009 by Jane Peters · Leave a Comment 

Home Equity for Retirement There is plenty of information and advice about when to retire and take social security, but very little about managing your home equity with a view to retirement. Equity in your home is a big part of your overall portfolio. If you are married, this is approximately 70% of your non-liquid assets per a 2009 Society of Actuaries (SOA) Report. The report also states the median value of financial assets is less than 1.5% of... [Read more...]

Should I Take Out a Reverse Mortgage?

September 29, 2009 by Jane Peters · Leave a Comment 

Reverse Mortgage Here are some points to take into account when considering a Reverse Mortgage. What is a reverse mortgage: A reverse mortgage is a loan given to seniors on the equity in their home.  It can be in one lump sum or several payments. In a conventional loan, amortized payments are made to the lender on a monthly basis with the equity increasing as payments continue.  At the end of the payment term the property has been paid off and the... [Read more...]

Don’t carry your mortgage into retirement

July 24, 2009 by Jane Peters · Leave a Comment 

http://www.marketwatch.com/story/its-a-bad-idea-to-retire-with-a-mortgage?siteid=nwhreal By Robert Powell, MarketWatch BOSTON (MarketWatch) — Time was when everyone retired debt free, or at least without a mortgage. Now many people retire while still paying that monthly home-loan bill. But should you? The short answer, according to a new Boston College Center for Retirement Research report, is no, no, no. It’s better to pay down your mortgage... [Read more...]