House and Home
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House and Home
Source : (remove) : Forbes
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Homeowners: How To Generate $2,400/Month For Life From Your House


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  How retirees can use reverse mortgages or HELOCs to unlock tax-free income, preserve portfolios, and boost financial flexibility in uncertain markets.

The article from Forbes, published on May 23, 2025, by Jason Lange, discusses a strategy for homeowners to generate a steady income of $2,400 per month for life by leveraging their home equity through a specific financial product called a Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage. The article explains that as homeowners age, they can tap into the equity of their paid-off or nearly paid-off homes without having to sell the property or make monthly mortgage payments. Instead, the loan is repaid when the homeowner moves out or passes away. The piece details the eligibility criteria, potential benefits such as tax-free income, and considerations like interest rates and fees, emphasizing the importance of consulting with a financial advisor to understand the full implications and suitability of this option for individual circumstances.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/jlange/2025/05/23/homeowners-how-to-generate-2400month-for-life-from-your-house/ ]

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