A reverse mortgage is a loan based on the paid-up current value, or equity, in your home. Unlike a conventional mortgage, your lender pays you — in monthly payments, through a variable line of credit or in a lump sum. You don’t have to repay the loan until you sell your house, move or die. Read more…
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Kiplinger: Reverse Mortgages Help Seniors Avoid ‘Pre-retirement Crisis’
In trying to shore up finances as a senior prepares to enter retirement, one option that can help a senior to avoid a financial crisis in the period preceding retirement can be a reverse mortgage. This is according to Mike Piershale, president of Piershale Financial Group in Barrington, Ill. in a new article at Kiplinger. […]
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Americans are Making Mistakes with Retirement Savings
Nearly one in five Americans don’t contribute enough to their employee-sponsored 401(k) plans to earn the company match, according to a new survey by MagnifyMoney. That means they’re missing out on “free money.” Read more…
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