Don’t be suckered into buying a reverse mortgage

Reverse mortgages sound enticing: The advertisements you see on television, in print and online give the impression that these loans are a risk-free way to fill financial gaps in retirement. However, the ads don’t always tell the whole story. A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 […]
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Reverse mortgages: Useful retiree tool or bad move?

Reverse mortgages, once viewed as loans of last resort, are slowly gaining some mainstream respect. Due to both strengthened consumer protections for these loans and an aging population that is largely unprepared to deal with the reality of retirement expenses, financial advisors are becoming more comfortable with recommending reverse mortgages to some clients. Taylor Hinton […]
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What to do in the Event of an Unexpected Retirement

You try to do your best to plan for retirement, but what do you do when you’re forced to retire early?  According to two new surveys, this happens more often than you might think.  “Research from Voya Financial says that for 60 percent of retirees, the timing of retirement was somewhat or completely unexpected.  And […]
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What is a mortgage broker and how do they work?

Everyone has heard the term ‘mortgage broker’ at some point in our lives and honestly, most of us don’t completely understand who a mortgage broker is and what they do. Put in simple terms, a mortgage broker is an intermediary between the borrower and the bank. They essentially work with the borrower and the bank […]
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The Rewards and Risks

One of the greatest challenges facing retirees, particularly in today’s low-interest rate environment, is generating sufficient income for everyday living expenses. And for the 41% of Americans aged 55 to 64 with no retirement savings, their home may become their most effective way to fund retirement. The combination of those two trends makes reverse mortgages […]
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