There are certain qualifications that need to be in place before you can seek a reverse mortgage. Borrowers need to be at least 62 to be eligible. While it is not necessary to own your property outright, you do need to have at least 50% equity in it and be prepared to pay off the… Read more »
While your post-retirement life is a great time to travel, it is also a smart time to think about how to make your home as comfortable as possible. In addition to having more time to yourself, you can start thinking about how you can ensure your living space will still accommodate you in later years…. Read more »
By making smart plans and good investments, you can prepare for a comfortable retirement. Unfortunately, even great plans can fall short when you face unexpected expenses after you finish working. For many people, medical bills and long-term care plans can make retirement more costly than anticipated. Fortunately, homeowners who qualify can use a reverse mortgage… Read more »
Once you turn 62, you reach the age of eligibility for pursuing a reverse mortgage. For many people, this means finally having the opportunity to turn home equity into something that offers a more accessible kind of financial support. However, it may not be an appealing option for everyone. One reason for this is that… Read more »
The savings you build up over time help you with key milestones in your life. From practical matters like home ownership to helping pay for a child’s education to more fun plans like a dream vacation, your accumulated funds help you in many ways. As you near retirement age, you can look forward to one… Read more »
What does a reverse mortgage offer homeowners aged 62 and older? Answers can vary based on what information people have, their current home value, and their retirement plans. For the right people, this kind of loan opens up welcome opportunities to enjoy better support for retirement. Accessing equity can give you more money at an… Read more »
Is a reverse mortgage something you should consider? Many seniors can be hesitant about taking out this loan, which can stop them from exploring how it could help them. Family Home Loan Texas has experience serving people who want to know how their home equity can be accessed. We can talk to you about the… Read more »
Reverse mortgages have helped many people make use of their home equity. They offer welcome relief for those who have medical bills, costly repair projects, and other expenses that need to be managed. These mortgages have also made it easier for people to prepare for retirement by adding to their nest egg. For those who… Read more »
Beginning the process of learning about and getting a reverse mortgage can feel daunting. Because of the age requirements and prevalent myths, many people do not come across much information about these loans until later in life. This leads to a less organic learning process, so when you do start to gather information, you could… Read more »
Historically, many Americans could confidentially look towards retirement — knowing that their pensions, retirement accounts, and social security income could support them. While this is still true for some, there is growing insecurity about retirement and having enough money to maintain their lifestyle. In fact, according to a survey from Sagewell Financial, around 30% of… Read more »
