HELOCs Often a Bad Choice for Older Homeowners

Retired man showing banknotes

HELOCs were never designed for retirees.  They are designed for working-age people… people whose incomes tend to rise over 10 years and then can expect to refinance the loan when it becomes fully amortizing and the monthly payments increase.  That’s the opposite of someone who’s 65 or 70 and retired. HELOC stands for Home Equity […]