downsizing: Seniors should downsize, enjoy retirement facility while health is reasonably good!
- 07/21/15 01:36 PM
More than 80% of all seniors own their own homes and most remain in their homes until they have to be forced out for medical reasons. Coming from a different era, many are concerned about saving the house for their kids. This is so unfortunate to see a senior live in a home that has become functionally obsolete. Here is an example: mom bought a house 30 years ago. She is now 85 years old and the house has not been repaired since she was in her 60’s. Only 250 sq ft of space is being utilized and the remaining 3000 … (3 comments)
downsizing: Seniors: Creative ways to downsize and create your own support system
- 07/16/15 02:51 PM
Recently I blogged about using a Reverse Purchase Mortgage to downsize into a smaller home for seniors above 62 with no payment ever! What if two seniors above the age of 62 want to sell their current home and downsize into a smaller home and live together? Is it possible to use a Reverse Mortgage in this situation? Absolutely. Here is how it would work: Senior 1 and Senior 2 both own homes that are paid off and can be sold for $500,000 each. Instead of one senior bearing the total down payment of $200,000, partnering allows them to split the expense … (2 comments)
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Downsizing Seniors in Riverside County, California
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