801-272-0600
nathan@advancedfunding.com
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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Should I Pay Off My Utah Home Mortgage Before Retirement?

As you near retirement, you may be anxious to completely pay off your Utah home mortgage and be debt-free before your traditional income stops. In most cases, this is the best plan but there are situations when holding on to your mortgage into retirement may make more sense.   Why You Should Pay Off Your Mortgage Being debt-free as you start retirement can make the transition to a fixed-income much smoother. Those who do not have their mortgage paid off yet sometimes have to dip into their investments to make their payments. That can result in higher taxes and fewer reserves f...

December 5th, 2018 | Reverse Mortgages, Refinance, Retirement, Should I Pay Off My Utah Home Mortgage Before Retirement?

What is a Reverse Mortgage?

In the past decade, reverse mortgages have gained a lot of traction as a retirement tool. And yet, many people still do not understand reverse mortgages or their purpose. If you are one of those people, here’s what you need to know:   What Is It? A reverse mortgage is a loan that allows homeowners to use the equity in their home without having to make monthly repayments. While there are some risks and downsides, using a reverse mortgage can be a helpful financial strategy for seniors.   How Does It Work? After being approved, the borrower gets either a lump sum fr...

October 24th, 2018 | Reverse Mortgages, Retirement, Loan Programs, What is a Reverse Mortgage?