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

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

If you're like many retirees, your home equity represents one of your largest stores of wealth. While many homeowners turn to home equity loans and lines of credit (HELOCs) to unlock their home's ...

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 ...

Inflation continues to strain the economy and American household budgets with higher prices at the gas pump, grocery store and other everyday purchases. As a result, many are taking on extra jobs and ...

Retirees often struggle to operate on a fixed income — but today's economy, with its rising prices and increasing costs of living, makes things even harder. Fortunately for homeowners, there are ...

In March, we explored the difference between Home Equity Conversion Mortgage (HECM) “expected rates” and “note rates” and why most reverse mortgages depend on these two interest rates. In April, we ...

For older homeowners who need cash, a reverse mortgage may be an option. But if your home value is higher than federal reverse mortgage limits allow, you might consider a jumbo reverse mortgage. Jumbo ...

Seniors approaching retirement (ideally) have a few sources of income to draw on, including Social Security and distributions from their investment accounts. But what if that’s not enough? Some older ...

My last couple of posts, beginning with The Mortgage is Dead; Long Live the Reverse Mortgage, have extolled the virtues of the improved FHA HECM reverse mortgage products. Given that the typical ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 exam holder, and ...