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How To Sell Your House and Stay In It

Opportunities for financial changes are available with different scenarios. If you want to sell your house and stay in it, then you can look at different approaches to assist you. Financial companies are available to provide you with various scenarios, all which are designed to give you extra cash without having to change the home that you live in. A popular way in which many decide to receive financial assistance from their assets is with the use of a reverse mortgage. You can sell your house and stay in it by getting a mortgage from the money that you have already paid on the home. If you are 60 or older, then you can receive the value of your home back with fast cash and enter into a

Reverse Mortgage Information You Need Before Signing

Open the doors to financing with a reverse mortgage. If you are looking for different opportunities, you will want to research the different options. There are specific pieces of reverse mortgage information that you will want to find before you close on a financial program. This ensures that you get the best option for your financial needs while getting the options that are required for your home. The first piece of reverse mortgage information to look into is what you need to apply and to be approved. Most plans require that you are over 62, while others have different age limits. There are other plans that will require other demographics to secure the loan that you are interested in.

Reverse Mortgage Pros and Cons

Extra finances are easily available with certain programs and plans. If you are over 62, then you can consider a reverse mortgage. This allows you to alter the current status of your home while having a larger amount of money. Before you decide to move into a certain plan, you will want to look at reverse mortgage pros and cons. This can help you to find the perfect solution to the extra cash that you are interested in having. The reverse mortgage pros and cons begin with certain attributes to financing available. You will find several pros with the financing, specifically by having instantaneous cash. The qualifications for this particular plan includes being over 62 and having demogr

Top 3 Reverse Mortgage Disadvantages

Considering alternative financing requires weighing in your options for the plan you are interested in. If you are considering reverse mortgage planning, then you will want to look at the full scope of the plan. There are some reverse mortgage disadvantages that you will want to consider, specifically to assist with getting the right program. These top three disadvantages allows you to measure your choices carefully. 1. Reverse Mortgage Plans. Before you get a reverse mortgage, you will want to consider the plans that are available. Some of the programs may become reverse mortgage disadvantages. If the interest rates and overall plans doesn’t fit with your lifestyle, then it may become

5 Qualities of Reverse Mortgage Lenders

Getting the best deals and options for your home is reliant on the professionals who support you. If you are considering a reverse mortgage, then you will want to look at the characteristics of those who decide to assist you. Looking for the best reverse mortgage lenders can also help you to get the best deal. Following are the five best qualities to look for with those that can offer a helping hand for your home. 1. Offering the Best Fees. You will find a large variety of reverse mortgage lenders, all which provide you with different packages. You will want to find lenders who provide you with different fees for the lending program. This includes lender fees, mortgage insurance and in

How Do Reverse Mortgages Work?

Opportunities to change your finances are available with a variety of programs. Reverse mortgages are one of the popular ways for elders to alter the home program they are under. If you are looking at this option, then you will want to know, how do reverse mortgages work? There are specific procedures you will want to look into for the financing you are interested in. The first application you will want to look at when asking, how do reverse mortgages work, is with the specifications to apply. The reverse mortgage program is available for elders, usually including those who are 62 and over. The application is also inclusive of other demographics as well as the details of your home, speci

Federal Government: ‘The age of entitlement is over’

In the 2014 Federal Budget, the federal treasurer highlighted the fact that the world is changing, and that living longer is getting increasingly difficult for those who don’t have the financial security to maintain their standard of living. According to the Federal Government ‘The age of entitlement is over’… In his speech on budget night to all Australians, Joe Hockey stated that access to the pension is too generous, and that the rate at which pension payments are currently made needs to be slowed. Australia is no longer in a position to be able to support its aging population of baby boomers, especially in an economic environment of decreasing tax revenue from a dwindling resources secto

Australian Pensioners are Living in Poverty: OECD Report

The 2015 Organisation for Economic Co-operation and Development (OECD) report, Pensions at a Glance, compared the Australian pension (those aged 65 and over) to 33 other countries around the world. Startling from this report was the confirmation that 34 percent of Australian pensioners were found to be living below the poverty line, significantly worse than the OECD average, where 12.6 percent of pensioners were found to be living in such dire circumstances. Such degree of poverty was only beaten by one other country, South Korea. More in-depth information around the results of this report can be found in the chart below: But should we be surprised by such statistics? Unfortunately not, such

Government Nailing Pensioners to the Floor

Over 65s in Australia own over $1 trillion worth of housing, a huge amount of wealth by anyone's standing. Many retirees are asset rich, yet in the same breath, are unable to live a decent quality of life due to minimal cash flow. Unfortunately, the polices of our political parties discourage older Australian's from unlocking the equity in their property and using against supporting their lifestyle. The owner occupied property that pensioners reside in does not contribute to the pension asset test. However, if a pensioner was to downsize their home through a sale to unlock their equity they are penalised for doing so in the form of receiving a reduced pension. This is particularly difficult