To help older Americans evaluate their financial future, AARP launched a new calculator to determine when they can retire and what is needed to do so. “Based on user feedback and a changing ...

If you’re at retirement age and worried about how you’ll pay the bills after the bear market devoured a chunk of your nest egg, you may be sitting on the solution: your home. With a loan ...

Reverse Mortgage Guides just released a new reverse mortgage calculator that allows lenders to quickly embed a calculator onto their website. The calculator is part of its Reverse Mortgage Toolkit ...

Over time, the reverse mortgage dishes out the equity in their home, currently worth about $400,000. In their case, it provides a monthly "paycheck" of $700. That's on top of their pensions.

According to AARP's reverse-mortgage calculator, a 75-year-old in Arlington, Va., with a home worth $500,000 could get a lump sum of about $258,000 from a fixed-rate Saver or a lump sum of about ...

If you’re shopping for a reverse mortgage, you have a new choice to mull over. The federal government has expanded its Home Equity Conversion Mortgage, or HECM, to include a product with a sm… ...

Now, such groups as AARP and Consumers Unions — publisher of Consumer Reports magazine — are saying that safeguards added in recent years to reverse mortgages have earned them qualified approvals.

A 2011 AARP report estimated that typical closing costs range from $2,000 to $3,000. This range is also consistent with the numbers found currently on a calculator created by the National Reverse ...

Reverse mortgages are insured by a Federal Housing Administration fund, which is in the red more than $13.6 billion because of an increase in claims paid out to reverse mortgage lenders since the ...

However, you’re not getting “free” money as a reverse mortgage borrower. The interest you don’t pay each month is being added to the debt. If you start with a $150,000 balance, you will ...

Key takeaways If you’re a homeowner aged 62 or older, a reverse mortgage can help you obtain tax-free income, allowing you to stay in your home, pay bills, supplement your income and more.

Important considerations. Now don't get it twisted—a reverse mortgage is not free money. It's still a loan that must be repaid eventually. Your debt increases over time.