Q: My Wife and I Are in Our Late Sixties. We Have Lived in Our House for 33 Years. But It Still has a Mortgage Because We Refinanced Over the Years to Pay for Remodeling and Upgrades. We Lost Most of Our Iras to the Falling Stock Market in 2000. Our Bigge

Press Telegram › November 27, 2005

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A: If you have at least 60 percent equity in your house, you might consider obtaining a reverse mortgage to pay off your existing home loan in a lump sum so you can afford to stay in your current house. Then you would have no monthly payments.

That would be much better than downsizing and giving up your home, which is an appreciating asset. Mobile homes usually depreciate in market value, just like your car, rather than appreciating in market value.

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Q: My Wife and I Are in Our Late Sixties. We Have Lived in Our House for 33 Years. But It Still has a Mortgage Because We Refinanced Over the Years to Pay for Remodeling and Upgrades. We Lost Most of Our Iras to the Falling Stock Market in 2000. Our Bigge

Before deciding to sell your house to buy a mobile home and make a major change in your lifestyle, I suggest renting for a few months in a mobile home park to see if that's where you want to spend your future.

Q: I am getting my paperwork together to do a living trust. How do I transfer my property title into my living trust? I presume it ge...

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