Lori Ioannou
speaker
179 appearances
3 recordings
1 series
first heard Mar 2022
last heard Feb 2025
Lori Ioannou’s voice in public audio — every appearance, attributed to the second.
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Appearances
And additionally, many people will put some money in money markets and a CD.
This is all for your liquid cash needs.
How much money do you need?
How much liquidity do you need on a basis for what you need for your own personal life and circumstance?
You need cash for key purposes as an emergency fund in case of an unexpected circumstance like an illness or a job loss, liquid assets to tap for monthly expenses.
You need your cash to pay your loan and debt payments and other personal things.
So what people invest in, if they can lock up some money in a CD, it depends on
what they need the money for and how much access they need to the money.
So meeting with your financial advisor is always the great first step before deciding what to do.
In many cases, homeowners could not handle the expense involved and wound up borrowing more than they were able to pay back.
It resulted in some horror stories where some borrowers wound up facing foreclosure.
My pleasure.
Well, in a reverse mortgage, the bank takes ownership of a person's house.
It differs from a traditional mortgage in that the homeowner borrows a portion of the equity they have in their home as funds to live on, and the bill comes due either when the homeowner or homeowners die, sell the house, or move out.
But it's essentially geared to retired homeowners with limited incomes who want to stay in their homes until their death.
Well, in many cases, homeowners could not handle the expense involved and wound up borrowing more than they were able to pay back.
And for a lot of people, they simply did not fully understand the rules.
It resulted in some horror stories where some borrowers wound up facing foreclosure and surviving spouses who were evicted.
Well, the Federal Housing Administration, overseen by the Department of Housing and Urban Development, they really offer protections now to borrowers that include limits on how much borrowers can obtain.
So seniors don't opt for large lump sum distributions they can't afford.
Showing 41–60 of 179 · page 3 of 9
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