Sentences with phrase «tap equity in their house»

Because the woman was constrained from tapping the equity in her house and relied on Social Security as her primary source of income, maintenance on the house suffered, threatening to depress the home's value below the market rate.

Not exact matches

So if you opt for the annuity payments, you'll want to be sure you have other resources you can dip into for extra cash and liquidity, say, money in an IRA or other retirement account or home equity you can tap by downsizing or taking out a reverse mortgage, two options that are laid out in detail in the Boston College Center For Retirement Research's Using Your House For Retirement Income report.

As people live longer and house prices rise, it's becoming an increasingly popular option for seniors who want to stay in their homes while still tapping its equity.

While it is possible to tap the equity in your home by taking out a loan against it, using your house as an ATM has proved to be a foolish strategy in the past.

If you're a homeowner, for example, you might tap the equity in your home for retirement income by downsizing to a smaller, less expensive house that's also less costly to maintain or by taking out a reverse mortgage, which can provide regular income, a reserve of cash you can dip into when necessary or both.

You are a homeowner looking for borrowing flexibility by tapping into the equity in your house (Home Equity Line of Crequity in your house (Home Equity Line of CrEquity Line of Credit).

Using Your House For Income In Retirement This guide from the Boston Center College For Retirement Research provides specific examples that allows you to compare downsizing vs taking out a reverse mortgage as a way to tap your home equity for retirement income.

During the last economic recovery in 2003, homeowners were able to spend easily by tapping housing equity to invest in small businesses and pay for everything from flat screen TVs to college tuitions.

If you wanted to buy another property and this wasn't Rosie's property, this was just a regular person, would you have any problem with $ 110,000 in equity in that house that you could tap into through an equity line of credit or a business line of credit or anything else?

As house prices have increased, many older Americans may be tempted to tap the equity in their homes with a reverse mortgage, which is a loan that allows homeowners 62 and older to convert a portion of the equity in their homes into cash.

However, historically low mortgage rates and strong house price appreciation could push more existing homeowners to tap their equity in the form of cash - out refinances, which reached an aggregate $ 57.7 billion for 2016.