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How does retirement income impact mortgage eligibility? Most lenders won't approve you for a mortgage if the payment is more than 31% of your projected gross income.
If your surviving spouse or partner would not be able to take over the loan, getting a mortgage during retirement may not be a smart financial decision. 7 mortgage options for seniors
Unless you've developed some hobbies or have significant interests outside your career, retirement can be a lonely place. Suddenly, many of your social contacts are gone. Mental and intellectual ...
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Some proprietary reverse mortgage options allow you to take out a loan at age 55, rather than age 62. Typically, you can receive a larger loan advance, too, especially if you have a higher-valued ...
Planning for retirement with a spouse makes things easier in some ways and more difficult in others. In many couples today, both partners are employed so they can work together to save for their ...
You likely didn't plan to be alone during retirement, but that doesn't mean you can't enjoy it. Check Out: Retirement Planning: How Much the Average Person 65 and Older Spends MonthlyRead More: 9 ...
The work you do in retirement can be an extension of your former career or head off in a diametrically opposed direction. Either way, here are 12 possibilities: 1.