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Real Estate: Tom Kelly
The Real Estate Adviser |
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March 12, 2009
The Real Estate Adviser: New reverse mortgage rules will help seniors
By Tom Kelly
Special to the Journal
Special to the Journal
While job cuts and dwindling investment accounts continue to plague wage-earning households, many seniors continue to wonder how long their once healthy retirement funds will provide them with the cash needed for their leisure years.
Some good news arrived recently, especially for older homeowners who continue to make mortgage payments on their primary residence. The economic stimulus bill signed into law raises the single national loan limit for the country's most popular reverse mortgage to $625,500 from the previous ceiling of $417,000.
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Previous columns:
- Clean credit will save you more than money, 03-05-2009
- Tom Kelly: ‘Qualified' buyer? Better be ‘perfect' to get a loan, 02-26-2009
- The Real Estate Adviser: Exploring financial options for seniors, 02-19-2009
- The Real Estate Adviser: Stimulus has little help for homeless, 02-12-2009
- The Real Estate Adviser: Where are the country's low risk home markets?, 02-05-2009
- The Real Estate Adviser: Is this the year the kids buy you out?, 01-29-2009
- The Real Estate Adviser: One man's solution to foreclosure mess, 01-22-2009
- The Real Estate Adviser: Foreclosed homes threaten neighbors, 01-15-2009