What does “reverse mortgage” mean? Who benefits from a reverse mortgage and how does it work? The premise is simple enough for reverse mortgages, which are also referred to as a home equity conversion mortgage or HECM. More or less, against your house, you’re taking out a loan. However, a reverse mortgage for seniors also…
In the United States, nine in 10 of the 40 million unpaid caregivers are providing care for a loved one who is aging. Numerous family members find themselves in a position of a caregiver as the elderly population continues to grow. To save money on professional caregiving, some loved ones provide care as a choice.…
Financial scams that target seniors are costly and prevalent. Fraudsters bilk approximately $3 billion per year from unsuspecting retirement-age individuals. But why this age group? It is believed by scammers that more money is possessed by older adults. Naturally, those targeted extend beyond people 55 and above. The risk of financial abuse can even occur…
There are many rewards that can be experienced through caregiving. Particularly for a loved one, care is something you want to provide. Being there when a loved one needs you is, for most caregivers, extremely gratifying. That said, however, over time, things can change. If caregiver stress syndrome occurs, you may feel sad, alone, exhausted,…
Many people are unaware that they can still get loans and other types of financing even if they are older. While it’s true that there are more restrictions, depending on your age, you may still be able to get the money you need to buy a car, renovate your home, or take care of other…
