Taking out a mortgage refinance loan is good if you have a good credit score, a large enough down payment, and a low debt-to-income ratio. However, it is essential to understand that refinancing your mortgage will not make you rich or solve your financial problems. It will simply lower your interest rate, which is generally tax deductible.

Unlike a traditional mortgage, a reverse mortgage is a loan that allows you to borrow against the equity in your home. In return, you receive a source of monthly income that is guaranteed to provide a source of reliable cash flow. This home equity loan option may be useful if you need money for a major home repair...

Whether you're planning to use your home for retirement, or you're looking to supplement your income, a reverse mortgage can be a great way to make the most of your home. The key is to understand the type of reverse mortgage you're looking for and to shop around for the best deal. If you're unsure, a housing counselor or financial...