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 »
Getting a reverse mortgage loan can help many seniors enjoy financial flexibility during their golden years. Retirees, in particular, can benefit from this type of loan because living on a fixed income isn’t always easy. These days, for instance, the rising rate of inflation means that even the most carefully constructed budgets may falter. Because… Read more »
As you are likely aware, inflation rates have risen to the highest levels in decades. Inflation is when the price of goods and services rises, causing the dollar’s purchasing power to drop. Essentially, your money doesn’t go as far. While this hurts everyone, it is particularly painful for retirees, as many are living on fixed… Read more »
As you are likely aware, inflation rates have risen to the highest levels in decades. Inflation is when the price of goods and services rises, causing the dollar’s purchasing power to drop. Essentially, your money doesn’t go as far. While this hurts everyone, it is particularly painful for retirees, as many are living on fixed… Read more »
Reverse Mortgages are becoming increasingly popular. In fact, the National Reverse Mortgage Lenders Association states that they saw a 34% year-over-year increase in reverse mortgages in 2020, placing the number at 43,000. With this increase, we can ascertain that more seniors are viewing these loans as viable options to help supplement their incomes during retirement…. Read more »
When you live in your house for a long time, you build up equity in it. With each mortgage payment you make — especially when paired with rising home values — you are increasing the amount of money you have in your home. While this will certainly benefit you if and when you decide to… Read more »
