Jack Guttentag
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Some questions about refinancingOct 14, 2017 6:00 am - Q. What is the worst mistake made by borrowers looking to refinance? A. The most common mistake (it may or may not be the worst) is assuming that if the monthly payment ...
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Recent changes in the HECM reverse mortgage programOct 07, 2017 6:00 am - My inbox recently has been crowded with letters from seniors who are anxious about impending adverse changes in the HECM reverse mortgage program. Many of them were wond...
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Another method to encourage equity growth: a right to recastSep 30, 2017 6:00 am - Growth in home equity during working years is important because home equity is a potential source of spendable funds after retirement. In a recent column (Repaying your ...
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CFPB on delaying Social Security With a HECM reverse mortgageSep 23, 2017 6:00 am - Seniors can begin receiving Social Security at age 62, or wait before applying to draw a larger amount. For example, a Social Security payment of $910 a month starting a...
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Be cautious with mortgage contributions from private investorsSep 09, 2017 6:00 am - John Buyer has targeted a house he wants to purchase at $300,000, planning to put 10 percent down and finance the remaining 90 percent with a 30-year, fixed-rate mortgag...
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Public policy should encourage the building of home equitySep 02, 2017 5:00 am - Policies directed toward encouraging homeownership by increasing the affordability of mortgages usually reduce the rate at which borrowers build equity in their homes. T...
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More down payment versus more houseAug 19, 2017 6:00 am - I have written about this question in the past, and recently decided to take a fresh look at it. The conclusion I reached was that my previous articles on the subject we...
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Avoiding credit card scams: advice from knowledgeable readersAug 05, 2017 6:00 am - In a recent article, I described how a larcenous online firm billed me for a purchase I didn't make, using a credit card number of mine that it found from an earlier onl...
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Managing a HECM reverse mortgage when one spouse is significantly older than the otherJul 30, 2017 11:00 pm - Q. I am 75 years old, my wife is 56, and our home is worth $400,000. Our equity in the house will be her main financial resource when I have departed. She wants to live ...
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How I was scammed! Don't let it happen to youJul 22, 2017 6:00 am - About two weeks ago, I received an email advertisement on a topic in which I had an interest - enough to watch a video touting the contents of a book on the subject. Aft...