Dear Savvy Senior: What can you tell me about reverse mortgages? When my husband passed away last year my income dropped almost in half, and I’ve been struggling to keep up with my monthly living ...

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 ...

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

With high mortgage rates and home prices not much better, downsizing isn't very attractive to many older homeowners these days. Instead, reverse mortgages — which allow you to turn your existing home ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. There's a lesser-known reverse mortgage designed for specific, essential ...

If you’re a homeowner looking for ways to tap into your home’s equity, two common options you might consider are a reverse mortgage and a home equity loan. Both allow you to use your home’s value to ...

"I think a real good rule of thumb is don't touch the equity in your home unless you need it. And if you are 62+ and you are limited on income, we need to create income to offset Social Security.

Over one million homeowners have chosen to obtain a reverse mortgage, but it's good to know they are not perfect. Reverse Mortgages need to be the right loan, for the right person, at the right time, ...

Although some seniors can benefit from a reverse mortgage, there are pitfalls to know about. Speak to a financial advisor before committing to one. Are you ahead, or behind on retirement? SmartAsset’s ...

What can you tell me about reverse mortgages? When my husband passed away last year my income dropped almost in half, and I’ve been struggling to keep up with my monthly living expenses — Senior ...