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Sould the rural elderly opt for the new equity conversion plans?


Author:
Meeks, C.B.
Source:
USDA
Year:
1986
Subject:
elderly, housing, loans, mortgages, and social welfare
Abstract:
Extract: Elderly homeowners should look before they leap into one of the new plans to tap the idle value of their home equity and turn it into cash. While such an equity conversion plan may be just what they've been looking for, the plans can be difficult to evaluate. Some plans will increase their income taxes or make them ineligible for public assistance. Before deciding, it would pay to look into other sources of financial aid, such as a loan secured by a traditional mortgage or a low-interest loan from a State government.
Format:
p. 32-35.
Language:
English
Collection:
Rural Development Publications Collection
Permanent URL:
http://handle.nal.usda.gov/10113/AGE86927757