Best Bridge Between Retirement and Full Social Security Benefit
December 2, 2015
Unlike with social security, which offers a higher guarantee for life, there is no guarantee with your retirement account which may be affected by low interest rates. One would also want to keep in mind that withdrawals from 401K will reduce the invested base precluding its presence for future growth. Additionally, 401K withdrawal is a taxable event.
Having tax-free cash proceeds from available Home Equity at your disposal may prove to be a better option yet.
Use of FHA’s new Home Equity Conversion Mortgage program provides a vehicle that provides bridge funds without creating an income tax obligation also keeps the home as a continued asset that grows in value with the real estate market. The line-of-credit continues to grow regardless of your property value.
Jay Kaplan
This is the place to share. Share news, updates and opinions. The reverse is the most misunderstood item in the lending and financial home ownership arena; we need more exchange of ideas.
This area is for questions and, I hope; answers. Please keep the dialogue going in the name of education, and that goes both ways. Please see that I have added two categories from The Educated Retirement show for Nostalgia and Wisdom
This is the place to share. Share news, updates and opinions. The reverse is the most misunderstood item in the lending and financial home ownership arena; we need more exchange of ideas.
This area ...
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This is the place to share. Share news, updates and opinions. The reverse is the most misunderstood item in the lending and financial home ownership arena; we need more exchange of ideas.
This area is for questions and, I hope; answers. Please keep the dialogue going in the name of education, and that goes both ways. Please see that I have added two categories from The Educated Retirement show for Nostalgia and Wisdom
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.
Your Reverse Mortgage Specialist serving Irvine, Newport Beach, Mission Viejo, Costa Mesa, Huntington Beach, Fountain Valley, Santa Ana, Westminster, and the surrounding Southern California area.
