Tag: tapping home equity
Extensive education, easy application process, and a reasonable interest rate are the keys to success. I am a great fan of thinking about the house as a retirement asset and about ways that people can access the equity in their home to support themselves in retirement. The conventional approaches involve downsizing to a cheaper home,…
The brief’s key findings are: Some states and localities allow older homeowners to defer property taxes, with deferred amounts repaid with interest when the house is sold. However, these programs have many limitations and very low take-up. A proposed redesign for Massachusetts would: open up the program to all older homeowners by removing income limits; make sign…