Social Security, Interest Rates, The House discussed on Business Beware

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On eighty five percent of at social security but the reverse mortgage money that you put in your pocket has absolutely nothing to do with that calculation just like a roth ira taking money out of a rough has nothing to do with that calculation myths number seven there are restrictions on how the money is used and taxes will have to be paid on it no no i just talked about the tax situation but there are no restrictions the government doesn't say well if you're gonna spend this money on fun stuff we're not going to you know ensured alone now they don't do that your money spent it out ever you want and then finally reverse mortgages are only for seniors in need or for the house rich cash individual world certainly get help the house poor person but it's not one of those things where you have to be you know in need and over sixty two as i mentioned just getting the line of credit set up at age sixty two that's as soon as you can do it and letting it grow grover time can be a tremendous financial resource for those that might be running a little thin on their retirement income and frankly that's most of us we'll talk about this the fed interest rates and preparing to get a home loan in 20 eighteen that's coming up.

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