Dr. Megan Hanna is a fund journalist with well over 2 decades of experience during the fund, accounting, and you can financial. She spent thirteen many years inside the industrial financial in the positions away from broadening duty linked to financing. She plus instructs university groups from the loans and you can accounting.
Expertise: Alternative monetary thought, nonprofit endowments, tax think, investment management, later years thought, faith management, estate planning, cost management, cashflow analysis, organization sequence
Andrew Steger, CFP, will bring financial believe and consulting qualities, assisting household, executives, and you can entrepreneurs that have thought and you will carrying out effective futures.
A contrary mortgage is actually that loan making it possible for home owners 62 decades and you may beyond to transform section of their house equity on bucks instead of being forced to offer their houses otherwise create monthly mortgage repayments. Anyone aren’t imagine lenders instantly get the domestic when the borrower passes away or are concerned regarding the heirs’ personal debt.
However, defenses can be found in place, such linked to new Government Homes Management-insured Household Equity Transformation Mortgage (HECM) program. Continue reading
