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pattyl11
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Retirement

Re: Ask the Expert: Taking loans in retirement

Taxes, obviously. IRA is not a Roth. 
pattyl11 11-08-2022 12:03 PM
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0
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Retirement

Re: Ask the Expert: Taking loans in retirement

Thanks so much! Appreciate the gotchas (taxes) and the encouragement. I still think that AARP could do some advocacy in the lending department to make it easier for retirees to tap into the equity in their homes if they choose to. And BTW, I absolute...
pattyl11 07-08-2022 03:26 PM
1
Reply
0
Kudos
2294
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Retirement

Re: Ask the Expert: Taking loans in retirement

Thanks for your responses. The underwriter asked if there were exterior walls missing and I sent a drawing - however, those walls are now up and fully framed, siding is up, electrical/plumbing rough in complete/inspected, insulation is in/inspected, ...
pattyl11 07-08-2022 12:08 PM
1
Reply
0
Kudos
2324
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

AARP does have advocacy groups who work with Congress to safeguard seniors. Our HELOC is already maxxed out after a kitchen remodel and two bathrooms and we owe $62K total, $12K of that is our first; house appraised at $880K. We have zero owed outsid...
pattyl11 07-08-2022 09:37 AM
1
Reply
0
Kudos
2356
Views

Retirement

Ask the Expert: Taking loans in retirement

My spouse and I retired at 65 and 63 respectively. We own our 2 1/2 story home built in 1991 and we have $60k in debt on our first and second (HELOC) loans. Our first loan will be paid off in 9 months, at which point we will accelerate paying off our...
pattyl11 07-08-2022 07:13 AM
1
Reply
0
Kudos
2385
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

Taxes, obviously. IRA is not a Roth. 
pattyl11 11-08-2022 12:03 PM
0
Replies
0
Kudos
1493
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

Thanks so much! Appreciate the gotchas (taxes) and the encouragement. I still think that AARP could do some advocacy in the lending department to make it easier for retirees to tap into the equity in their homes if they choose to. And BTW, I absolute...
pattyl11 07-08-2022 03:26 PM
1
Reply
0
Kudos
2294
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

Thanks for your responses. The underwriter asked if there were exterior walls missing and I sent a drawing - however, those walls are now up and fully framed, siding is up, electrical/plumbing rough in complete/inspected, insulation is in/inspected, ...
pattyl11 07-08-2022 12:08 PM
1
Reply
0
Kudos
2324
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

AARP does have advocacy groups who work with Congress to safeguard seniors. Our HELOC is already maxxed out after a kitchen remodel and two bathrooms and we owe $62K total, $12K of that is our first; house appraised at $880K. We have zero owed outsid...
pattyl11 07-08-2022 09:37 AM
1
Reply
0
Kudos
2356
Views

Retirement

Ask the Expert: Taking loans in retirement

My spouse and I retired at 65 and 63 respectively. We own our 2 1/2 story home built in 1991 and we have $60k in debt on our first and second (HELOC) loans. Our first loan will be paid off in 9 months, at which point we will accelerate paying off our...
pattyl11 07-08-2022 07:13 AM
1
Reply
0
Kudos
2385
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

Taxes, obviously. IRA is not a Roth. 
pattyl11 11-08-2022 12:03 PM
0
Replies
0
Kudos
1493
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

Thanks so much! Appreciate the gotchas (taxes) and the encouragement. I still think that AARP could do some advocacy in the lending department to make it easier for retirees to tap into the equity in their homes if they choose to. And BTW, I absolute...
pattyl11 07-08-2022 03:26 PM
1
Reply
0
Kudos
2294
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

Thanks for your responses. The underwriter asked if there were exterior walls missing and I sent a drawing - however, those walls are now up and fully framed, siding is up, electrical/plumbing rough in complete/inspected, insulation is in/inspected, ...
pattyl11 07-08-2022 12:08 PM
1
Reply
0
Kudos
2324
Views

Retirement

Re: Ask the Expert: Taking loans in retirement

AARP does have advocacy groups who work with Congress to safeguard seniors. Our HELOC is already maxxed out after a kitchen remodel and two bathrooms and we owe $62K total, $12K of that is our first; house appraised at $880K. We have zero owed outsid...
pattyl11 07-08-2022 09:37 AM
1
Reply
0
Kudos
2356
Views

Retirement

Ask the Expert: Taking loans in retirement

My spouse and I retired at 65 and 63 respectively. We own our 2 1/2 story home built in 1991 and we have $60k in debt on our first and second (HELOC) loans. Our first loan will be paid off in 9 months, at which point we will accelerate paying off our...
pattyl11 07-08-2022 07:13 AM
1
Reply
0
Kudos
2385
Views
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Date Registered ‎11-04-2009 12:00 AM
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