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Managing the equity in appreciated homes and second homes has become a pleasant and unexpected challenge for many. Especially on the coasts, residential real estate values soared the last five years. Suddenly owners, especially long-time owners, have properties that are more valuable than they imagined. For many families, real estate wealth exceeds the value of […]
The use of reverse mortgages is climbing as more seniors learn how to use them to raise cash from their home equity. The loans are not for every senior American, but they can be a valuable source of cash for strapped homeowners. Fewer than 20,000 reverse mortgages were originated in 2003. That’s a tiny part […]
Home equity is the most valuable asset of many older Americans. Even after the big bull market, Americans real estate holdings (primarily through their homes) are more valuable than their stocks. But that real estate wealth doesn’t help pay bills. You can sell a small part of a stock portfolio to pay medical bills or […]