Reverse Mortgage – It Could Be the Most Useful Tool in Your Financial Toolbox
May 1, 2009
Many seniors are self sufficient and independent people with strong wills and character to match. However, it is not easy to maintain that feeling of independence when lying awake at night wondering how to make ends meet.
Like many older Americans, you may be property rich and pocketbook-poor. Having a home or condominium that is owned free and clear, but not having savings or cash to access, causes dependency on fixed sources of income, such as social security, to meet the rising costs of living. Many Americans are experiencing a shortfall in their cash flow due to a low cost of living adjustment to their fixed source of income in comparison to the reality of exponentially rising costs of living in most parts of the county.
The financial tool box for many is unlikely to include …
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by: Julie A. Dialessi-Lafley, Esq.