Both products are worth exploring for seniors this year. Here's how to determine which could be best for you now.

For older homeowners considering a reverse mortgage, one of the most important factors to understand is the 60% rule. This lending cap, introduced as a safeguard, determines how much money borrowers ...

As we grow older, our financial needs change. Perhaps you need a different strategy to cover your regular living expenses, or ...

For many older homeowners, years of steady mortgage payments and climbing home values have resulted in a significant amount of home equity. Right now, for example, the average homeowner has well over ...

The new lender typically pays your switching costs and/or provides cash back of up to a half per cent of the mortgage amount ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. So, how exactly do these senior-focused loans work for married couples, ...

Home equity is a valuable financial resource. By definition, it’s the difference between your home’s value and how much you owe on your mortgage. For example, if your home is worth $500,000 and you ...

Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, ...

For many retirees, a reverse mortgage can be a useful tool that adds some much-needed breathing room to their finances. By allowing homeowners ages 62 and older to tap into their home equity without ...

Although some seniors can benefit from a reverse mortgage, there are pitfalls to know about. Speak to a financial advisor before committing to one. Are you ahead, or behind on retirement? SmartAsset's ...

Reverse mortgage educators Dan Hultquist and Jim McMinn brought their “Rules of the Game” presentation back to this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo ...