-
5 Major Money Issues for Seniors in 2011
Tweet Share on Facebook October 4, 2010 Comment (5)The Great Recession may technically be over. But there has been no recovery, let alone a Great Recovery. Businesses still do not want to invest or hire. Consumers don't want to spend and are still slowly digging their way out of the mountain of mortgage and personal debt that helped fuel the downturn. Beyond these broader concerns, here are five big money issues that will affect seniors in 2011:
[See In Pictures: 10 Costs That Could Increase in Retirement.]
-
The New Reverse Mortgage: 4 Things You Should Know
Tweet Share on Facebook October 1, 2010 Comment (4)The Federal Housing Administration has formally approved a new reverse mortgage product that sharply cuts upfront payments by home owners but also significantly reduces the percentage of a home's equity that can be paid to owners under the program. Reverse mortgages insured by the government are available on homes where the youngest owner is at least 62 years old. The program is called a Home Equity Conversion Mortgage (HECM). Here are four things you should know about the new reverse mortgage:
[Bookmark the U.S. News Retirement site for more planning ideas and advice.]
