I am a retired and divorced 75-year-old woman with one daughter. She will inherit what I've got and, believe me, she needs it. About seven years ago, I had a catastrophic health issue that required me ...

A home-equity conversion mortgage, also called a reverse mortgage, lets homeowners age 62 or older borrow against some of their home equity. You can use the money for just about any reason, including ...

At 65, she is preparing for retirement and is considering tapping into her own 401 (k) to pay back the reverse mortgage.

Reverse mortgages can be a versatile tool in many retirees’ arsenal, helping to bridge the gap when Social Security and savings aren’t quite enough on their own. A chief benefit of reverse mortgages ...

Reverse mortgages, which allow homeowners aged 62 and older to convert part of their home equity into cash without having to make monthly mortgage payments, have become increasingly popular among ...

Ali Hussain has a background that consists of a career in finance with large financial institutions and in journalism covering business. mixetto / Getty Images You might prefer to pay off your ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. But like most financial tools, there are also complexities and potential ...

Some homeowners use a home equity line of credit (HELOC) to pay off their mortgage in hopes of lowering their interest rate or monthly payments. It’s a strategy that can work, but it’s not without ...

At 65, she is preparing for retirement and is considering tapping into her own 401(k) to pay back the reverse mortgage.