Suze Orman Quotes

Because the fees associated with a reverse mortgage are high, such loans make sense only for borrowers who expect to live in their home for a number of years.

While a reverse mortgage can indeed be a viable way to generate income, it is very important to understand that after you take out a reverse mortgage, you will still be responsible for paying the property tax, the insurance premium, and all the maintenance costs for your home.

Unlike other loans, a reverse mortgage doesn't have to be repaid until the borrower moves out of the home or passes away.

Some financial advisers say anyone who may move in less than seven years should not take out a reverse mortgage.

I've got no idea when I am going to retire. Whenever they pick me up and take me to the funeral home, I guess.

Many a man who pays rent all his life owns his own home; and many a family has successfully saved for a home only to find itself at last with nothing but a house.

While I encourage people to save 100% down for a home, a mortgage is the one debt that I don't frown upon.

As the United States has become an older nation, reverse mortgages have grown into a $20-billion-a-year industry, with elderly homeowners taking out more than 132,000 such loans in 2007, an increase of more than 270 percent from two years earlier.

Owning a home is a keystone of wealth - both financial affluence and emotional security.

I just want to retire before I go senile because if I don't retire before I go senile, then I'll do more damage than good at that point.

If you can't afford the upkeep of your home, it makes no sense to do a reverse mortgage. You will just end up having to sell eventually when you realize you can't afford the home, and whether you have any equity left after the sale depends on the size of the reverse loan that must be settled.

For my constituents, owning a home is the culmination of many years of hard work and the realization of the American Dream. At no time should a local entity take those years of hard work solely to increase their tax revenue.

On the other end of the spectrum, these women who do live long enough to collect Social Security face the challenge of being disproportionately dependent on the Social Security system for retirement income.

I don't think anybody ever really just retires where they don't do anything.

Social Security is the very foundation of retirement security for millions of Americans.

The most critical factor subduing the demand for housing is that home ownership is no longer seen as the great, long-term buildup in equity value it once was.

I'm a little young for retirement.

More Americans own their home than ever before. Nearly 70 percent of American's are homeowners. So it is a good time for us to asses the positive impacts of homeownership on families, communities and on the nation's economy.

The American dream is still to own your home.

Today, I'm 60, I'm not married, I don't have any kids. I would give up some Social Security to save a system that Americans are going to depend on now and in the future.

If you pay off your mortgage before retirement, you take a huge financial load off your shoulders. You also become eligible to take out a reverse mortgage once you turn 62.

I grew up thinking that renting is perfectly normal. And then, strangely enough, I never did buy a house. I live in New York City, and I'm still renting. My own personal narrative shows that it is possible to live a respectable life without ever having owned a home.

I don't suppose I'll ever retire completely.

Americans are not saving enough for retirement.

No one should expect the value of their house to appreciate quickly - counting on your home to be a significant part of your retirement saving isn't a winning strategy - but it is reasonable to expect that prices generally will rise with at least the rate of inflation for some time to come.