The median household income in the U.S. today is around $61,300. Earn less? Here are cities where a smaller income will go further.
Income shortfalls are the top reason why people aren’t buying homes, according to a survey from Bankrate.com Monthly cash flow is a key factor in determining whether you can afford a home.
Reverse mortgages have become more and more popular as the baby boomer generation ages into retirement. Unlike a traditional mortgage, a reverse mortgage uses your home as collateral against a loan that you can use to supplement your income. However, instead of receiving the proceeds of the loan in one lump sum and making regular monthly installment payments back to the lender, the lender keeps the bulk of the loan proceeds and disperses them to you in monthly allotments. This allows you to use the equity in your home as a way to pay your regular monthly expenses now that your income has become more limited.
Buying a car can be a hassle, and auto loans may only complicate the situation further. However, this doesn’t have to be the case if you plan ahead and know what you’re getting yourself into beforehand. Here are some examples of some things to consider before getting an auto loan.