costs: Seniors in Kansas City: Should I sell my home and buy something cheaper?
- 07/08/08 04:17 AM
There are many options to consider when seniors in Kansas City are trying to make ends meet in retirement. Selling and buying something cheaper is one of the options that many including The Financial Industry Regulatory Authority (FINRA) tells you to consider. Let's see if this is a "good" option. Let's assume you have a $180,000 house, you want to sell and buy a $90,000 maintenance provided townhome. Your costs to sell are likely to be at least 6% for real estate commissions, plus typical seller's costs, plus any closing costs the buyer may request paid and do you think you … (0 comments)
costs: Seniors in Kansas City Are Reverse Mortgages Too Good To Be True?
- 07/06/08 06:40 AM
Advertisers attempt to make you think they are all that and then some while the media and some financial advisors make them sound like they are a horrible way to go. Let's see if we can help you decide for yourself. Reverse mortgages are for homeowners 62 years or older that either have their home paid for or have a mortgage balance 50% or less of the value of the house. Reverse mortgages work opposite of traditional loans. On traditional loans you make payments every month on reverse mortgages the bank pays you monthly, or in a lump sum, or a … (0 comments)
costs: Seniors in Kansas City Struggling to Make Ends Meet: Could a Reverse Mortgage Help?
- 07/04/08 04:05 AM
Prices in Kansas City keep going up. Investment accounts keep dropping. When will it stop? For most seniors/retirees the options to overcome this financial problem are limited. • Turn to family: Families are struggling financially. So is that a viable option? • Get a job to make ends meet. Is that the way live their retirement years? • Look to an asset that has been off limits. The house. Traditionally, the focus was to leave it to the kids. A noble sentiment, but in today's world where pensions are dwindling, social security benefits are not what many expected and so many … (0 comments)
costs: The Costs of Reverse Mortgages for Seniors in Kansas City, Missouri too High? (Part 2)
- 06/24/08 01:27 AM
It has been said that the cost of Reverse Mortgages can be too high, even here in Kansas City, Missouri. Really? The costs are high? Compared to what? Remember our first installment was a sixty-two year old with a $250,000 house would qualify for an $118,033 Line of Credit (LOC). Their closing costs would be about $10,180 so their available LOC is $107,853. She needed $100,000 for something very important. She has many other assets she could access. (I'm not a Tax advisor always consult a tax advisor). If she pulled a net $100,000 out of a Mutual Fund and she had held the … (0 comments)
costs: Reverse Mortgages Cost Seniors too Much in Kansas City, Missouri (Part 1)
- 06/24/08 01:23 AM
"Reverse Mortgages cost too much." "Don't get a Reverse Mortgage because they cost too much." That's the message the media pundits want you to believe. So when someone says that Reverse Mortgages for seniors cost too much in Kansas City, Missouri. I ask them "compared to what?" Let's do what the media hasn't taken the time to do, let's examine this more thoroughly. In our example a 62 year old with a $250,000 house would qualify for an $118,033 Line of Credit (LOC). Their closing costs would be about $10,180 so their available LOC is $107,853. Let's say this person needed $100,000 for … (1 comments)
costs: Keeping Reverse Mortgage Costs down in Kansas City Missouri.
- 06/23/08 03:31 AM
One of the biggest criticisms of a Reverse Mortgage in Kansas City Missouri is the perception that the costs are high. While they are higher than traditional mortgages they also provide features that traditional mortgages don't. We'll leave that argument for another today. The costs involved in a Reverse Mortgage in Kansas City Missouri include traditional mortgage costs like appraisal, title, closing fees, and recording fees. These fees are largely fixed and very difficult to achieve much in savings. One area that gets a lot of negative press is the origination fees. These are common in many areas on traditional loans … (0 comments)
There are many options to consider when seniors in Kansas City are trying to make ends meet in retirement. Selling and buying something cheaper is one of the options that many including The Financial Industry Regulatory Authority (FINRA) tells you to consider. 
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