Getting Your House in Order Before Home Purchase
Buying a house is a life-changing process that requires lots of upfront financial planning.
Senior Deciding on Whether to Downsize
Question: I am an 86-year-old widow. I own a townhouse with stairs, which are becoming difficult. I must dip into savings to pay taxes and insurance. I might need those savings for a nursing home some day. I'm thinking of selling and buying a less-expensive condo with costs I can manage with my retirement income. But now I hear that renting and investing may be better than buying and building equity. But rents are high, too. Any thoughts?
How to Determine if Refinance Makes Sense
Question: What is the worst mistake made by borrowers looking to refinance?
What FHA Reverse Mortgage Changes Mean
My email inbox has recently been crowded with messages from seniors who are anxious about impending changes in the home-equity conversion mortgage program. Many of them are wondering whether they should try to finalize a HECM before Oct. 2, when the changes go into effect.
Reverse Mortgage Rush as Costs Set to Rise
A rules change that will raise fees and reduce loan amounts for reverse mortgages apparently has created a nationwide rush to get new loans completed before the reforms take effect Monday, Oct. 2.
Mortgage Firms Help Hurricane-Stricken Borrowers
Weathering the financial aftermath of Hurricane Irma can be stressful and expensive.
Opinion: Make Credit Bureaus Bare Burden of Breaches
After Equifax revealed earlier this month that hackers accessed the Social Security numbers, birth dates and other intimate information of 143 million people, leaving them at a serious lifelong risk of identity theft, both the company and consumer rights advocates were quick to tell Americans they needed to get to work.
Deciding On Paying Debt Instead of Saving
Simple math suggests it's likely better to get rid of debt before saving for retirement or adding to your emergency fund.
How to Quickly Improve Your Credit Score
You're in the market for a mortgage or other type of loan but are consistently turned down. Or, you do get a loan offer, but the interest rate is staggering.
Regulator Warns HECM Costs Exceed Early SSI
Seniors can begin receiving Social Security at 62 or wait before applying in order to draw a larger amount. For example, a Social Security payment of $910 a month starting at age 62 becomes $1,300 starting at age 67.