Review Mortgage Lenders

aarp and reverse mortgages

AARP sues HUD over Reverse Mortgages: What is a reverse mortgage ttp In this video, real estate attorney hugh Fitzpatrick from Tewksbury Massachusetts discusses the lawsuit ...

How to Finance Aging in Place Renovations: A Fully Accessible Guide

For the budget-minded homeowner, there are a number of ways to finance the aging in place process, including:

Home renovation loans Home equity loans/home equity lines of credit (HELOC) Reverse mortgages Government grants and loans

It is best to begin planning for aging-in-place renovations early, before you retire. If you haven’t, there are still financial steps you can take in order to remain in your home. Our fully accessible aging in place financial guide can help you comfortably grow older in your own home.

What’s your current situation? Choose an option below.

I’m still employed, and I haven’t retired yet
I’m retired and on a fixed income
I or a family member can no longer take care of myself or themselves

I’m still employed and I haven’t retired yet Best for you: home improvement loans or home equity loans/HELOC

If you’re still employed but considering aging-in-place, retirement may be on the horizon. At this point in life you may own a home. Maybe you’re also considering renovating your property.

I'm an unemployed widow with $600000 saved — how should I spend and invest it?

Dear Moneyist,

I am a widow who is 63 years old. I receive $2,115 per month in Social Security and $533 per month for a pension. I have $600,000 saved. I have not been able to find work in the past five years so I am looking at the money I have as the best case scenario. I rent, but it is getting quite expensive.

Where I live it will cost $240,000 to get a modest town home. I am thinking of buying the house in cash so I will only have property taxes and homeowner association fees, and home insurance to pay monthly which will be $1,150 less a month then what I pay now. I will have $320,000 left to invest.

Don’t miss: My sister took care of our mother for 10 years — shouldn’t she be entitled to her house?

What do you think would be the best course of action to invest the money left over? I will need it to throw off $12,000 a year to supplement my Social Security and pension and, if possible, grow the principle investment. I am hoping to take the money in such a way as not to pay much in taxes.

What are your mute-button commercials?

You know. TV ads that are so annoying that you have to dive for the mute button to avoid hearing them.

Flooring Express. Ugh.