Ramsey points out that these loans steadily increase in balance because of accumulating interest, which erodes equity over ...

Longbridge cuts its proprietary reverse mortgage rate to 7.99% and raises the principal limit factor to help seniors tap more ...

Timing is everything, and when it comes to making financial decisions, it can be the difference between success and failure. For many seniors and older homeowners, many of whom are tied to limited ...

For seniors who own their own home — fully paid off or with a small remaining mortgage — but need more income, a reverse mortgage can be the perfect solution. Or it can be a costly mistake. And you ...

Americans are living longer, and for many retirees, that's a double-edged sword. While more years can mean more time with family and friends, and the freedom to enjoy retirement, it also means ...

"I think a real good rule of thumb is don't touch the equity in your home unless you need it. And if you are 62+ and you are limited on income, we need to create income to offset Social Security.

While saving for retirement is a major financial goal for many, not everyone saves or is able to save enough money to live on by the time they hit retirement age, leaving them wondering how they will ...

While a reverse mortgage may be the ideal financial tool for some, for others, it's important to know there are alternatives worth exploring. Costs: One-time, up-front costs include origination fees, ...

Can you elaborate on reverse mortgages and whether they’re a good idea? My in-laws are in their 80s and on limited social security. My mother-in-law loves to spend, spend, spend and has always been ...

When you inherit a home with a reverse mortgage, you're given six months to pay off the balance, or up to a year if you can get the deadline extended. It's best to work with the loan servicer to avoid ...