Download or read book Unlocking Home Equity Through Property Tax Deferral written by and published by . This book was released on 1980 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Home Equity Conversion Project written by Kristina Peterson and published by . This book was released on 1982 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Home Equity Dissavings written by John J. Gruidl and published by . This book was released on 1983 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unlocking Home Equity for the Elderly written by Ken Scholen and published by Ballinger Publishing Company. This book was released on 1980 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Property Tax Deferral written by Alicia H. Munnell and published by . This book was released on 2020 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many retirees will not have enough money from conventional retirement programs to maintain their standard of living once they stop working. To help support themselves, they will need to tap their home equity, the major asset for most middle-income older households. Yet tapping home equity is difficult: most people are reluctant to downsize and, even when they do, they rarely reduce their housing expenses. Reverse mortgages are an option, but most households are put off by the enormity of the decision, the complexity of the product, and the high up-front costs. A statewide property tax deferral program overcomes the hurdles to accessing home equity. Property tax deferral does not provide access to as much home equity as a reverse mortgage, but the offsetting advantage is that some of the house value after the repayment of the loan and interest will be available for a bequest. At the household level, the proposed program is revenue-neutral: all taxes owed by a participating household are paid back, with interest sufficient to cover borrowing costs and administrative expenses. But because loans are made well in advance of repayments, the sponsor of the plan must cover start-up costs. In Massachusetts, if the state government simply borrowed money to cover the annual outlays, the state's ratio of debt-to-GSP would rise from 14.0 percent to 15.1 percent. The alternative is to involve the private sector. This decision would raise the costs to homeowners, but nevertheless it may be necessary to get a broad-based program up and running.
Download or read book Home Equity Conversion in the United States written by and published by . This book was released on 1991 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Are Homeownership Patterns Stable Enough to Tap Home Equity written by Alicia H. Munnell and published by . This book was released on 2020 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: As retirees live longer, spend more on medical care, and get less income replaced by Social Security, many may need to tap their home equity to be comfortable in retirement. The most direct way to access home equity is downsizing, but few choose this option because they generally prefer to stay in their house. The alternative is withdrawing equity through a reverse mortgage or a property tax deferral, but few households use these options either. A potential reason that homeowners are reluctant to borrow against their house is that, if they do decide to move, they have to pay back the loan with interest, which could leave them with inadequate resources at a vulnerable time in their life. This paper assesses how likely households are to move as they age to see if borrowing against one's home is a viable financial strategy. The analysis uses the Health and Retirement Study (HRS) to analyze three cohorts: the HRS cohort (ages 50-54 in 1992), the AHEAD cohort (ages 70-74 in 1993), and a synthetic cohort covering the whole lifespan from age 50 to death. The analysis identifies typical housing trajectories in retirement and explores how often, and for whom, tapping home equity would be a viable strategy.
Download or read book Are Homeownership Patterns Stable Enough to Tap Home Equity written by and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: As retirees live longer, spend more on health care, and get less income replaced by Social Security, many may need to tap their home equity to be comfortable. They could access equity most directly by selling the house where they raised their children and buying a smaller, less expensive house. Such a shift would not only produce a bundle of cash but would also reduce the expenses associated with homeownership. The problem is that most retirees are attached to their homes and want to age in place. The alternative, then, is to tap equity through a reverse mortgage or a state property tax deferral program, both of which allow people to borrow against their house and pay back the loan with interest when they move or die. However, few households choose either of these options. The question is why homeowners â€" who need the money, have the equity, and want to stay put â€" avoid borrowing against their home. In part, they may be put off by the complexity of the product or want to avoid liens on an asset that they plan to leave as a bequest. But a more fundamental concern may be the fear that, if they do decide to move, they will have to pay back the loan with interest and could be left with inadequate resources late in life. This brief, which is based on a recent paper, assesses how likely people are to move as they age to see if borrowing against oneâ€TMs home is a viable financial strategy. The discussion proceeds as follows. The first section introduces the ways to tap home equity while remaining in place. The second section describes the data used for the analysis, the methodology for creating a “synthetic cohortâ€ŗ that can be observed from age 50 until death, and the sequence analysis technique for identifying common housing trajectories. The third section reports the results of applying sequence analysis to the synthetic cohort. Once groups with stable and unstable housing patterns have been identified, the fourth section reports on the characteristics of the homeowners who fit each pattern. The final section concludes that most homeowners experience enough residential stability to tap home equity.
Download or read book Home Equity Conversion written by and published by . This book was released on 1985 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The New Reverse Mortgage Formula written by Tom Kelly and published by Wiley. This book was released on 2005-03-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New Reverse Mortgage Formula explains reverse mortgages in easy language so seniors and their family members can fully understand and benefit from these useful loan products. Reverse loans allow seniors to convert part of their home equity into tax-free income, letting seniors easily borrow against the value of their home without selling it. Safer than ever, today’s reverse mortgages are non-recourse loans and lenders do not share in any appreciation or accrued equity. Safe and simple, reverse mortgages are a valuable option for senior homeowners having trouble living on a fixed income or in need of extra cash for any unforeseen expense.
Download or read book Unlocking Home Equity written by and published by . This book was released on 1979 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Income on the House written by Ken Scholen and published by Nchec Press. This book was released on 1992 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is your complete guide to all types of reverse mortgages."--Cover.
Download or read book Property Tax Deferral for Homeowners with Limited Income written by Washington (State). Department of Revenue and published by . This book was released on 2011 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Housing for a Maturing Population written by and published by Urban Land Institute. This book was released on 1983 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Potential for Income Enhancement Through Home Equity Conversion for Pennsylvania s Senior Citizens written by Pennsylvania. General Assembly. Legislative Office for Research Liaison and published by . This book was released on 1986 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Opportunities in Home Equity Conversion for the Elderly written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 1983 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Home Loan Bank Board Journal written by United States. Federal Home Loan Bank Board and published by . This book was released on 1980 with total page 996 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes a statistical series section which provides economic information on the Nation's savings and homefinancing industry.
