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Homeowners who are near or in retirement often find themselves in need of additional funds. Whether they’re looking to increase their monthly income, cover a large project such as a home renovation, or have a line of credit they can draw from in case of emergency, accessing extra cash can be a challenge.  It’s not […]

Reverse Mortgages: What They Are and How They Work A reverse mortgage is a home loan available to homeowners aged 62 or older. It allows them to convert part of the equity in their home into cash while eliminating monthly mortgage payments. The most common type of reverse mortgage is the home equity conversion mortgage […]

When workers enter retirement, one of the biggest concerns is whether or not their retirement savings will be enough to last them throughout their retirement. This makes managing cash flow in your golden years vitally important. One factor to consider is how to minimize taxes in retirement. Without employing some key strategies, taxes can quickly […]

What is a Reverse Mortgage? A reverse mortgage is a type of loan available to homeowners aged 62 or older who have significant equity in their home. Unlike traditional mortgages, where the homeowner makes monthly payments to a lender, a reverse mortgage allows the homeowner to receive payments from the lender by borrowing against the […]

There’s a lot of conflicting information out there about reverse mortgages. You don’t have to look very far before you run into warnings about “reverse mortgage scams” that may lead you to believe that a reverse mortgage is a financial product you should avoid. The Home Equity Conversion Mortgage (HECM), commonly known as a reverse […]

As you prepare for retirement, one of the questions you will want to answer is: How much money or income do you really need for this stage of life? Even if you have a decent nest egg, your income may not be what it was during your working years. But the good news is that your expenses won’t be what they were either.

Purchasing a home is one of the best investments you can make, and as the value of your home increases, you can use that growing wealth without having to sell the home. Two popular options for accessing that equity are a reverse mortgage and a Home Equity Line of Credit (HELOC). But which one is […]

One of the most attractive features of a reverse mortgage loan is that it does not require monthly mortgage payments to pay it back. This can help free up a significant amount of cash for retirees who may be struggling to make ends meet.   But a reverse mortgage is a loan, which means it will […]

Navigating the complex landscape of retirement planning is key for those looking to maximize their cash flow and financial security in their golden years.  One of the key considerations for retirees is the impact of state taxes on their retirement income. The United States presents a diverse tax landscape, with certain states standing out as […]