The U.S. Treasury allocated $9.9 billion for aid to homeowners who were adversely impacted by COVID to be distributed through state administrators for the purpose of preventing homeowner…
Housing Assistance Fund Resource Guide
Survey: Cost-of-Living Adjustment Not Enough for Many Retirees
A recent survey of 750 American retirees conducted by Motley Fool found that 55 percent don’t believe the 8.7 percent cost-of-living adjustment for 2023 announced by the Social Security Administration…
You Have a Reverse Mortgage: Know Your Rights and Responsibilities
A new guide from the Consumer Financial Protection Bureau explains your rights and responsibilities as a reverse mortgage borrower.
What is a reverse mortgage and how can it help you make ends meet?
Fortune published a balanced and informative article on reverse mortgages that examined how they work, key differences between HECMs and proprietary loans, and the pros and cons of getting…
Report: Almost Half of Baby Boomers Still Working Past Age 70
A new survey from the Transamerica Center for Retirement Studies® finds almost half of Baby Boomer workers (49 percent) expect to or already are working past age 70…
Social Security Announces 8.7 Percent Benefit Increase for 2023
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced today. On average, Social…
Opinion: Reverse mortgages can offer senior homeowners a financial lifeline with both stocks and bonds sinking
Most people think of reverse mortgages as the last-gasp attempt to stay in your house when you’ve run out of money in retirement. But even before they get…
Kiplinger: Worried About Inflation? A Reverse Mortgage Can Generate Cash
Kiplinger conducted a survey that found more than 70% of individuals age 50 and older are concerned that inflation will cause serious economic hardship during their retirement. In…
Study: Oregon’s Auto-IRA Program Making Progress
Over the past decade, since 2012, at least 46 states have acted to implement a new program, study program options, or consider legislation to establish state-facilitated retirement savings…
Syndicated Columnist Recommends Reverse Mortgage Over HELOC
Washington Post nationally syndicated personal finance columnist Michelle Singletary recommended to one of her readers this week that she consider a reverse mortgage to help finance home improvements. The…
Congress to Debate Retirement Savings Bills
Expanding access to retirement savings accounts remains a hugely popular issue for congressional lawmakers from both parties. When they return from their summer recess in September, lawmakers will…
Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
While 79% of employed workers are saving for retirement, 39% of them said they tapped their retirement accounts during COVID, including 29% who took a loan and 27%…
Survey: 70% of Retirees Have This Regret
More than two-thirds (70%) of American retirees wished they had saved more and planned earlier for retirement, according to the 2022 Retiree Reflections Survey, published recently by the Employee Benefit Research…
What Does Retirement Look Like By Generation?
For many, retirement can feel a bit like a fairy tale. When you’re young and working, it might seem like slow-building retirement savings (if you have any) might…
AARP: Over Half of Older Americans Happy With Finances
A new survey from AARP finds that just over half of Americans in their 70s (51%) and 80s (52%) rate their financial situation today as excellent or very good. When…
In the age of inflation, there are steps you can take to deal with higher prices
MarketWatch interviewed several financial planners to find out what they’re recommending to their clients to lessen the impact of increasing inflation. The general consensus is that consumers should develop…
Should you use a reverse mortgage to pay for long-term care?
Someone turning 65 has nearly a 7-in-10 chance of needing long-term care in the future, says the Department of Health and Human Services, and many don’t have the…
Here’s what you need to know about reverse mortgages
With the stock market getting volatile but the housing market still hot, reverse mortgages have become a more attractive tool for older Americans who need cash for retirement…