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Reverse mortgage loans are like traditional mortgages that permits homeowners to borrow money using their home as collateral while retaining title to the property.  Reverse mortgage loans don’t require monthly payments. Continue reading “Understanding Reverse Mortgages”

Approximately 52 million or 16% of Americans are age 65 and over.  It is easy to understand that some of them are thinking of downsizing their home because they don’t need the same space they did in the past. Continue reading “Downsizing in 2021”

Borrowing from a 401k, 403b or the cash value of life insurance policy is a common financial strategy.  While taxpayers are not allowed borrow from either a traditional or Roth IRA, they can withdraw funds before age 59 ½ for specific purposes like a first home purchase, qualified higher education expenses or permanent disability without incurring a 10% penalty. Continue reading “Another Source for a Down Payment”

The largest expenditure a buyer has when purchasing a home is the down payment which can range from zero for veterans or 3.5%, 5%, 10% and 20%.  With mortgages come closing costs which can be another 2-4% and must be paid at settlement in cash. Continue reading “Anticipating the Cost of a Home”

Even if Benjamin Franklin never actually used the expression “a penny saved is a penny earned”, the reality is that it has been a sentiment for frugality for centuries.  He did say: “Beware of little expenses; a small leak will sink a great ship.”  At the end of the day, it is not about how much you make as much as it is about how much you keep. Continue reading “Personal Finance Review”

Some people don’t need a reason to buy a home, they just want it.  That can be enough justification by itself.  Other people need some solid logic before they’re ready to make the commitment.  The following reasons might help you to make a decision. Continue reading “7 Reasons to Buy a Home”

Maybe you’re not ready to move into it but that doesn’t mean that you shouldn’t take advantage of the present opportunities to acquire the home you want to live in during retirement. Continue reading “Buy Your Retirement Home Now”

Whether it is a cosmetic or a mechanical reason for upgrading a toilet, you may not know all the choices that are involved to choose the right one for your home.  Continue reading “Time for a Toilet Upgrade”

Insurance is required on a home by the mortgage company, but homeowners rely on it for peace of mind also.  Unfortunately, people may not take the time to investigate their policy and what it covers until they need to file a claim, which could be too late. Continue reading “What every homeowner should know about their property insurance”

Occasionally, buyers who can qualify to purchase a home decide to “take a break” and wait to purchase a home.  When the focus of buying a home is relaxed, other uses for the money that was going to be used for the home are considered. Continue reading “Money You Saved for a Down Payment”