Australia's Home Equity Release Blog

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Many Jobs Being Lost in Western Australia

We’re all completely clear of the fact that a steady job is the backbone of regular mortgage payments, with a worrisome trend has taken developed in Western Australia of late. From the beginning of 2017 till September the 30th 1,226 properties have been seized by banks. In other words, banks have repossessed an incredible number of homes this year because people have fallen behind in their mortgage payments. The reason derives from the fact that a many of members of the working class have lost their jobs in the mining industry which used to be fairly strong in these parts of the country. This also explains why the majority of the seized properties is mainly in the outer suburbs. There has be

Look for the Right Information on Reverse Mortgages

Even though you might be cash poor, you might have a property which gives you equity. The Australian situation is such that it allows people to, in fact, get paid for the property that they own. Well, it is a little bit more complicated than that but if you get the right information on reverse mortgage, then you just might find a way out of your financial woes. For instance, upon review of Australia’s reverse mortgage regulations, we see that only senior citizens are eligible for them. There’s nothing wrong with that as it is mostly retirees who struggle with their cash flow. Elders in Australia often own properties but do not have the cash in their bank accounts. The reverse mortgage produc

Australian Seniors and Their not so Good Financial Situation

It is safe to say that retirees struggle with their finances and more specifically savings after passing the age of 60. Studies show that most people in Australia have enough money to last about 14 years after they retire. This is not encouraging at all as the average senior citizen outlives their retirement fund by about 5 years. Now, not to be cynical here, but one’s life shouldn’t be longer than their savings can last. In attempt to solve this issue, a number of financial institutions and banks have thought about introducing various services for financial aid to seniors. Such a consultant is Mercer and they have started a product called LifetimePlus. This program basically allows customer