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Tag Archives: home equity loan

Need Extra Income? Five Options After Retirement

jobs for retirees

Retirement isn’t what is used to be. The death of most corporate pensions, Social Security that hasn’t kept pace with inflation, and an increasingly tight economy mean that fewer people have access to comfortable retirements. A 2015 survey found that more than half of retirees intend to continue working after they leave their careers. If you’re struggling to make ends meet, you’re not alone, but the good news is that there are plenty of potentially lucrative options—none of which require you to return to work full-time.  Freelancing For many employees it’s the boss, not the work, who is the problem. If you want complete control over your schedule, consider freelancing. You can take on as many or as few clients as you want, offering years of hard-earned wisdom to businesses, individuals, and nonprofits. If you’ve accumulated in-demand experience in a specific niche, consider becoming a consultant. Consultants command premium rates for their hard-won experience and insight, and since you’re providing a service rather than a product, the work is fairly low-stress.  Part-Time Jobs Many retirees are surprised by how isolating it is not to go to an office every day. If you’re a social butterfly, you may miss your routine, ...

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Buying A Home – Home Equity Loan or Mortgage?

    Home shoppers can easily get confused when they have to choose between home equality loans and mortgages for buying a home. While both options can be used to purchase the house, looking at the latest trends can help consumers to choose the better direction. Home equity loans are often confusing for first time users. Both normal home equity loans and home equity lines of credit are used to avoid private mortgage insurance at the time of purchase, but a home equity line of credit can also be utilized later for liquidity. Home Equity Loan – Latest Happenings This year, renowned banks and credit unions are developing interest in lines of credit and equity loans as home prices rise in different states and homeowners look to add some amount of equity. Credit reporting agency Experian reports that equity loans increased by 30% in the second quarter compared to the first quarter. However, consumers considering home equity should note that lending standards are now tighter than before. According to Bankrate, the home equity line average rate is 4.99% while the home equity loans average rate is 6.99%. Senior analyst at the source said that lenders aren’t acting as they did in the ...

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